Bookbuilding IPO | ₹570 Cr | Listed at BSE, NSE | Wed, Feb 7, 2024 - Fri, Feb 9, 2024
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 per share. The lot size for an application is 36. The minimum amount of investment required by an retail is ₹14,904 (36 shares) (based on upper price). 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 Open
Wed, Feb 7, 2024
IPO Close
Fri, Feb 9, 2024
Issue Price
₹414 per share
Market Cap (Pre-IPO)
₹4,330.04 Cr
| IPO Date | 7 to 9 Feb, 2024 |
| Listed on | Wed, Feb 14, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹393 to ₹414 |
| Issue Price | ₹414 per share |
| Lot Size | 36 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,37,68,049 shares (agg. up to ₹570 Cr) |
| Fresh Issue | 1,11,59,420 shares (agg. up to ₹462 Cr) |
| Offer for Sale | 26,08,629 shares of ₹10 (agg. up to ₹108 Cr) |
| Share Holding Pre Issue | 9,34,30,855 shares |
| Share Holding Post Issue | 10,45,90,275 shares |
| BSE Script Code / NSE Symbol | 544118 / JSFB |
| ISIN | INE953L01027 |
Jana Small Finance Bank 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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 36 shares and in multiples thereof.
| 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 |
Jana Small Finance Bank IPO raises ₹166.95 crore from anchor investors. Jana Small Finance Bank IPO Anchor bid date is February 6, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Feb 6, 2024 |
| Shares Offered | 40,32,588 |
| Anchor Portion (₹ Cr.) | 166.95 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Mar 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, May 12, 2024 |
| 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 |
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.
| 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 | ||||
| KPI | |
|---|---|
| ROE | 16.78% |
| Debt/Equity | 3.49 |
| RoNW | 14.40% |
| Price to Book Value | 1.28 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 27.40 | 40.77 |
| P/E (x) | 15.11 | 10.15 |
| Promoter Holding | 25.20% | |
| Market Cap | ₹4,330.04 Cr. |
The Jana SFB IPO is subscribed 19.89 times on February 9, 2024 5:59:00 PM (Day 3). The public issue subscribed 5.7 times in the retail category, 39.81 times in the QIB category, and 26.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 39.81 | 26,88,392 | 10,70,31,060 |
| NII | 26.13 | 20,16,294 | 5,26,91,004 |
| bNII (bids above ₹10L) | 28.73 | 13,44,196 | 3,86,18,172 |
| sNII (bids below ₹10L) | 20.94 | 6,72,099 | 1,40,72,832 |
| Retail | 5.7 | 47,04,687 | 2,68,03,908 |
| Total | 19.89 | 94,09,373 | 18,71,96,544 |
Total Application : 7,02,847
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 196.93 |
| 2 | Commission/processing fee for SCSBs and Bankers to the Offer and fee payable to the Sponsor Bank(s) for Bids made by RIBs using UPI | 1.93 |
| 3 | Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 12.73 |
| 4 | Fees payable to the Registrar to the Offer | |
| 5 | Fees payable to the other advisors to the Offer - Auditors | 28.32 |
| 6 | Fees payable to the other advisors to the Offer - Independent chartered accountant | 5.75 |
| 7 | Fees payable to the other advisors to the Offer - Industry expert | 1.53 |
| 8 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 35.38 |
| 9 | Printing and stationery | 16.70 |
| 10 | Advertising and marketing expenses | 19.11 |
| 11 | Fees payable to legal counsels | 55.21 |
| 12 | Miscellaneous | 46.90 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹414.00 | ₹414.00 |
| Open | ₹396.00 | ₹396.00 |
| Low | ₹365.00 | ₹365.00 |
| High | ₹408.80 | ₹409.00 |
| Last Trade | ₹368.20 | ₹368.15 |
Lead Manager Reports
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 Crores. The issue is priced at ₹414 per share. The minimum order quantity is 36.
The IPO opens on Wed, Feb 7, 2024, and closes on Fri, Feb 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 Wed, Feb 7, 2024 and closes on Fri, Feb 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 Tue, Feb 13, 2024. Check the Jana Small Finance Bank IPO allotment status.
The Jana Small Finance Bank IPO listing date is on Wed, Feb 14, 2024.
