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Jana Small Finance Bank IPO is a book build issue of ₹570.00 crores. The issue is a combination of fresh issue of 1.12 crore shares aggregating to ₹462.00 crores and offer for sale of 0.26 crore shares aggregating to ₹108.00 crores.
Jana Small Finance Bank IPO bidding started from Feb 7, 2024 and ended on Feb 9, 2024. The allotment for Jana Small Finance Bank IPO was finalized on Feb 12, 2024. The shares got listed on BSE, NSE on Feb 14, 2024.
Jana Small Finance Bank IPO price band is set at ₹414.00 per share . The lot size for an application is 36. The minimum amount of investment required by an retail is ₹14,148 (36 shares). The lot size investment for sNII is 14 lots (504 shares), amounting to ₹2,08,656, and for bNII, it is 68 lots (2,448 shares), amounting to ₹10,13,472.
The issue includes a reservation of up to 3,26,086 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Jana Small Finance Bank IPO RHP for detailed Information.
| IPO Date | February 7, 2024 to February 9, 2024 |
| Listing Date | February 14, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹393 to ₹414 per share |
| Issue Price Final | ₹414 per share |
| Lot Size | 36 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,37,68,049 shares (aggregating up to ₹570.00 Cr) |
| Fresh Issue | 1,11,59,420 shares (aggregating up to ₹462.00 Cr) |
| Offer for Sale | 26,08,629 shares of ₹10 (aggregating up to ₹108.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,34,30,855 shares |
| Share Holding Post Issue | 10,45,90,275 shares |
Jana SFB IPO offers total 1,37,68,049 shares. Out of which 67,20,980 (48.82%) allocated to QIB, 26,88,392 (19.53%) allocated to QIB, 20,16,295 (14.64%) allocated to NII, 47,04,688 (34.17%) allocated to RII and 40,32,588 (29.29%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 67,20,980 (48.82%) | NA |
| − Anchor Investor Shares Offered | 40,32,588 (29.29%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 26,88,392 (19.53%) | NA |
| NII (HNI) Shares Offered | 20,16,295 (14.64%) | NA |
| − bNII > ₹10L | 13,44,196 (9.76%) | 2,667 |
| − sNII < ₹10L | 6,72,099 (4.88%) | 1,333 |
| Retail Shares Offered | 47,04,688 (34.17%) | 1,30,685 |
| Employee Shares Offered | 3,26,086 (2.37%) | NA |
| Total Shares Offered | 1,37,68,049 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Jana Small Finance Bank IPO raises ₹166.95 crore from anchor investors. Jana Small Finance Bank IPO Anchor bid date is February 6, 2024. Jana Small Finance Bank IPO Anchor Investors list
| Bid Date | February 6, 2024 |
| Shares Offered | 40,32,588 |
| Anchor Portion Size (In Cr.) | 166.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 12, 2024 |
Jana Small Finance Bank IPO opens on February 7, 2024, and closes on February 9, 2024.
| IPO Open Date | Wed, Feb 7, 2024 |
| IPO Close Date | Fri, Feb 9, 2024 |
| Tentative Allotment | Mon, Feb 12, 2024 |
| Initiation of Refunds | Tue, Feb 13, 2024 |
| Credit of Shares to Demat | Tue, Feb 13, 2024 |
| Tentative Listing Date | Wed, Feb 14, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Feb 9, 2024 |
Investors can bid for a minimum of 36 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,904 |
| Retail (Max) | 13 | 468 | ₹1,93,752 |
| S-HNI (Min) | 14 | 504 | ₹2,08,656 |
| S-HNI (Max) | 67 | 2,412 | ₹9,98,568 |
| B-HNI (Min) | 68 | 2,448 | ₹10,13,472 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in July 2006, Jana Small Finance Bank Limited is a non-banking finance company primarily engaged in providing MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans and gold loans.
Jana SFB offers various unsecured loan products, including individual and micro business loans, agricultural and allied loans, and group loans.
The bank classifies loans into three categories:
(i) individual loans for home improvement/repair,
(ii) individual loans for school fees, and
(iii) individual personal loans for debt consolidation, family functions, incidental expenses, and business purposes.
The company provides digital products, services, and platforms, such as mobile and internet banking for both retail and corporate clients. Between March 31, 2021 and March 31, 2023, the bank's gross secured advances increased from ₹50,760.00 million to ₹99,047.54 million, representing a compound annual growth rate (CAGR) of 39.69%.
As of March 31, 2023, Jana SFB had 754 banking outlets across 22 states and two union territories, including 272 in unbanked rural centers. This pan-India presence has helped the bank to reduce its concentration risk.
The bank has provided services to almost 12 million customers since 2008. As of March 31, 2023, there are 4.57 million active customers. In the last three fiscal years, the bank has added 0.91 million, 0.51 million, and 0.08 million new customers, respectively.
As of March 31, 2023, Jana SFB had a total of 18,184 permanent employees.
Jana Small Finance Bank Limited's revenue increased by 20.82% and profit after tax (PAT) rose by 1365.12% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 28,105.87 | 25,643.69 | 20,188.71 | 19,078.66 |
| Total Income | 2,215.57 | 3,699.88 | 3,062.37 | 2,720.74 |
| Profit After Tax | 213.22 | 255.97 | 17.47 | 72.26 |
| Net Worth | 2,547.11 | 1,777.07 | 1,184.56 | 1,100.77 |
| Reserves and Surplus | 2,225.44 | 1,472.28 | 999.29 | 914.09 |
| Total Borrowing | 5,313.54 | 6,277.46 | 4,509.83 | 4,815.32 |
| Amount in ₹ Crore | ||||
The market capitalization of Jana Small Finance Bank IPO is ₹4330.04 Cr.
| KPI | Values |
|---|---|
| ROE | 16.78% |
| Debt/Equity | 3.49 |
| RoNW | 14.40% |
| Price to Book Value | 1.28 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 27.40 | 40.77 |
| P/E (x) | 15.11 | 10.15 |
The Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting the Bank's Tier - 1 capital base to meet the Bank's future capital requirements. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer. The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.
[Dilip Davda] This SFB is the fourth largest financial service provider in India and has posted remarkable growth in its performance. No doubt, it marked a setback in margins for FY22 in line with general trends for the industry on account of the Pandemic. Based on annualized FY24 earnings, the issue appears reasonably priced. Investors may park funds for the medium to long term rewards. Read detail review...
| Listing Date | February 14, 2024 |
| BSE Script Code | 544118 |
| NSE Symbol | JSFB |
| ISIN | INE953L01027 |
| Final Issue Price | ₹414 per share |
| BSE Listing Group | B |
Jana Small Finance Bank Ltd.
The Fairway Business Park, #10/1, 11/2, 12/2B,
off Domlur, Koramangala Inner Ring Road,
Next to EGL, Challaghatta, Bengaluru 560 071
Bengaluru, Karnataka
Phone: +91 80 4602 0100
Email: investor.grievance@janabank.com
Website: https://www.janabank.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: jana.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Jana Small Finance Bank IPO is a main-board IPO of 1,37,68,049 equity shares of the face value of ₹10 aggregating up to ₹570.00 Crores. The issue is priced at ₹414 per share. The minimum order quantity is 36.
The IPO opens on February 7, 2024, and closes on February 9, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Jana Small Finance Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Jana Small Finance Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Jana Small Finance Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Jana Small Finance Bank IPO opens on February 7, 2024 and closes on February 9, 2024.
Jana Small Finance Bank IPO lot size is 36, and the minimum amount required for application is ₹14,904.
You can apply in Jana Small Finance Bank IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Jana Small Finance Bank IPO will be done on Monday, February 12, 2024, and the allotted shares will be credited to your demat account by Tuesday, February 13, 2024. Check the Jana Small Finance Bank IPO allotment status.
The Jana Small Finance Bank IPO listing date is on Wednesday, February 14, 2024.
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