Jana Small Finance Bank IPO: Check Out Price Band, Issue Size & More

Jana Small Finance Bank opened the subscription for its initial public offer (IPO) on February 7, 2024. The issue will close on February 9, 2024. The IPO has fixed a price band of Rs 393 to Rs 414 per equity share. It comprises a fresh issue of 1.12 crore equity shares totaling Rs 462 crore. It has an offer for sale (OFS) of 26.08 lakh shares amounting to Rs 108 crore. The Jana SFB IPO requires retail investors to invest a minimum amount of Rs 14,904, with a lot size of 36 shares.

About the company

Jana Small Finance Bank Limited is the fourth largest Small Finance Bank, in terms of AUM and the fourth largest Small Finance Bank in terms of deposit size as of March 31, 2023. As of September 30, 2023, the bank had 771 banking outlets, including 278 banking outlets in unbanked rural centers, in 22 states and two union territories. It has served nearly 12 million customers since 2008, including 4.87 million active customers as of September 30, 2023.

Price Band

The IPO has fixed a price band of Rs 393 to Rs 414 per equity share.

Also read: Capital Small Finance Bank IPO: Check Details Including Price Band, Issue Size & More

Issue Size

The IPO comprises a fresh issue of 1.12 crore equity shares. It amounts to Rs 462 crore and an offer for sale (OFS) of 26.08 lakh shares amounting to Rs 108 crore. The lot size for Jana SFB IPO is 36 shares. The minimum investment amount for retail investors is Rs 14,904.

Objectives of the Issue

The bank aims to utilise the net proceeds from the fresh issue to bolster its Tier-1 capital base for future capital requirements. Additionally, the funds will cover expenses related to the offer. The bank anticipates gaining advantages from the listing of the equity shares on the stock exchanges.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.