Jana Small Finance Bank Limited IPO

07 Feb 2024 - 09 Feb 2024 Individual Category IPO NSE

Min Investment

₹14904

Price Band

₹393-₹414

Issue Size

137.68 lakhs
Equity Shares

Lot Size

36

IPO Dates
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07 Feb 2024

Open Date

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09 Feb 2024

Close Date

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12 Feb 2024

Allotment Date

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14 Feb 2024

Listing Date

Jana Small Finance Bank Limited IPO 2024 is open for subscription from Wednesday, February 7, 2024 and will close on Friday, February 9, 2024. The price band for this IPO is decided at Rs 393 to Rs 414 per share. The minimum lot size of this application for the retail category has 36 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 504 shares. Whereas, the minimum lot for big non-institutional investors is 68 lots consisting of 2448 shares. The minimum amount of investment required for retail category investors is Rs 14,904 (414 x 36 shares). However, for small non-institutional investors the minimum investment amount is required Rs 2,08,656 ( 414 x 504 shares) and for big non-institutional investors is Rs 10,13,472 (414 x 2448 shares). Jana Small Finance Bank Limited IPO 2024 is a book-built issue of Rs 570 crores. The issue is a combination of the fresh issue and offer for sale. The fresh issue consists of 1.12 crore shares amounting to Rs 462.00 crores. However, offer for sale consists of 0.26 shares amounting to Rs 108.00 crores. The allotment for this IPO is expected to be finalized on Monday, February 12, 2024. Jana Small Finance Bank Limited IPO will list on both BSE, NSE and listing date fixed on Wednesday, February 14, 2024. The book running lead managers of Jana Small Finance Bank Limited are Axis Capital Limited, ICICI Securities Limited and SBI Capital Market Limited. The registrar for this IPO is Kfin Technologies Limited.

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About Jana Small Finance Bank Limited Ipo

Jana Small Finance Bank incorporated in July, 2006. It is engaged in a banking business which provides MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two wheeler loans and gold loans. Company also offers various unsecured loan products including individual and micro business loans, agricultural loans and group loans. Jana Small Finance is the fourth largest small finance bank in terms of AUM and deposit size as of March 31, 2023. As of March 31, 2023 the company had 754 banking outlets, including 272 in unbanked rural centres spread across 22 states and 2 Union Territories. Company served nearly 12 million customers since 2008, including 4.5 million active customers as at March 31, 2023. The vision of Jana Small Finance Bank is to be a leading digitized bank of an aspirational India serving all customers and communities. The mission is to be a trusted and inclusive bank with consistently high standards of performance, compliance and communities.

Founded

2006

Managing Director

Ajay Kanwal

Parent Organization

IPO Objectives

The objective of this IPO is to expand the bank’s operation in the Tier-1 cities. The net proceeds from the issue will be utilized to fund the capital requirements of the bank in Tier-1 which will help to increase the customer base. Other than this, the funds will also cover the issue expenses. Moreover, the bank will receive the benefit of listing equity shares on the exchanges.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0

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