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Jana Small Finance Bank Limited IPO of Rs 462.00 crore(Jana Small Finance Bank IPO) Detail

Jana Small Finance Bank

Jana Small Finance Bank IPO is a book built issue. The issue comprises of fresh issue of Rs 462.00 crore and offer for sale of 0.26 crore shares.

Jana Small Finance Bank IPO opens for subscription on February 7, 2024 and closes on February 9, 2024. The allotment for the Jana Small Finance Bank IPO is expected to be finalized on Monday, February 12, 2024. Jana Small Finance Bank IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, February 14, 2024.

Jana Small Finance Bank IPO price band is set at ₹393 to ₹414 per share. The minimum lot size for an application is 36 Shares. The minimum amount of investment required by retail investors is ₹14,904. The minimum lot size investment for sNII is 14 lots (504 shares), amounting to ₹208,656, and for bNII, it is 68 lots (2,448 shares), amounting to ₹1,013,472.

Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the book running lead managers of the Jana Small Finance Bank IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to Jana Small Finance Bank IPO RHP for detailed information.

About Jana Small Finance Bank Limited

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 IPO Details

IPO Date February 7, 2024 to February 9, 2024
Listing Date [.]
Face Value ₹10 per share
Price Band ₹393 to ₹414 per share
Lot Size 36 Shares
Total Issue Size [.] shares
(aggregating up to ₹[.] Cr)
Fresh Issue [.] shares
(aggregating up to ₹462.00 Cr)
Offer for Sale 2,608,629 shares of ₹10
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 93,430,855

Jana Small Finance Bank IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50% of the Net Issue
Retail Shares Offered Not less than 35% of the Net Issue
NII (HNI) Shares Offered Not less than 15% of the Net Issue

Jana Small Finance Bank IPO Timeline (Tentative Schedule)

Jana Small Finance Bank IPO opens on February 7, 2024, and closes on February 9, 2024.

IPO Open Date Wednesday, February 7, 2024
IPO Close Date Friday, February 9, 2024
Basis of Allotment Monday, February 12, 2024
Initiation of Refunds Tuesday, February 13, 2024
Credit of Shares to Demat Tuesday, February 13, 2024
Listing Date Wednesday, February 14, 2024
Cut-off time for UPI mandate confirmation 5 PM on February 9, 2024

Jana Small Finance Bank IPO Lot Size

Investors can bid for a minimum of 36 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 36 ₹14,904
Retail (Max) 13 468 ₹193,752
S-HNI (Min) 14 504 ₹208,656
S-HNI (Max) 67 2,412 ₹998,568
B-HNI (Min) 68 2,448 ₹1,013,472

Jana Small Finance Bank IPO Promoter Holding

The Promoters of the company are Jana Capital Limited and Jana Holdings Limited.

Share Holding Pre Issue 25.20%
Share Holding Post Issue

Jana Small Finance Bank Limited Financial Information (Restated)

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
Revenue 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

Key Performance Indicator

KPI Values
ROE 16.78%
Debt/Equity 3.49
RoNW 14.40%

Jana Small Finance Bank Limited Contact Details

Jana Small Finance Bank Limited
The Fairway Business Park, #10/1, 11/2, 12/2B,
off Domlur, Koramangala Inner Ring Road,
Next to EGL, Challaghatta, Bengaluru 560 071
Phone: +91 80 4602 0100
Email: investor.grievance@janabank.com
Websitehttps://www.janabank.com/

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