Jana Small Finance Bank IPO subscribed 18.50 times on Day 3

Jana Small Finance Bank IPO: Bengaluru-headquartered Jana Small Finance Bank launched an initial public offer (IPO) worth an estimated Rs 570 crore on Wednesday, February 7. The IPO comprised fresh issuance of 1.12 crore shares, amounting to Rs 462 crore, and an offer for sale (OFS) worth Rs 108 crore by promoters and existing shareholders.

Here are a few important details to know about the upcoming Jana small Finance Bank IPO:

Jana Small Finance Bank IPO dates

The IPO was opened for subscription from 10 am to 5 pm for three trading days, till Friday, February 9.

Jana Small Finance IPO subscription status

On Friday (Day 3), Jana Small Finance's share sale received bids for 18,71,96,940 shares against 1,01,16,284 shares on offer. Overall, the public issue has been subscribed 18.50 times on Day 3 of the bidding process.

Jana Small Finance Bank IPO: Allotment date

The basis of the allotment of shares under the Jana Small Finance Bank IPO is set to be finalised tentatively on February 12.

Jana Small Finance Bank IPO: Listing date

Jana Small Finance Bank shares are likely to be listed on the bourses BSE and NSE tentatively on February 14.

Jana Small Finance Bank IPO: Issue price

Under the IPO, potential investors will be able to bid for Jana Small Finance Bank shares in a price band of Rs 393-414 apiece.

Jana Small Finance Bank IPO: Lot size

Potential investors will be able to bid for shares under the IPO in multiples of 36, translating into Rs 14,904 per lot.

Jana Small Finance Bank IPO: Book-running lead managers

Axis Capital Ltd, ICICI Securities Ltd and SBI Capital Markets Ltd are the book-running lead managers of the Jana SFB IPO, whereas Kfin Technologies is the registrar.

Jana Small Finance Bank IPO: Fund utilisation

The small finance bank aims to utilise the proceeds from the issue towards augmenting its Tier-1 capital base to meet its future capital requirements, and meeting the expenses related to the offer.

Jana Small Finance Bank IPO buy or not: Here's what Anil Singhvi suggests

Zee Business Managing Editor Anil Singhvi suggests only risk-taking investors apply for the IPO for the long term. 

• Positive:
  • Experienced management
  • Attractively priced equal to PSU Banks valuations
  • Strong growth track record
• Negative:
  • Volatility in Profit trend
  • Higher credit cost
  • Lower NIMs, CASA ratio and capital adequacy ratio

What does Jana Small Finance Bank do?

Jana Small Finance Bank is the country’s fourth largest small finance bank in terms of assets under management (AUM) as well as deposits, as of March 31, 2023, according to its website.

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