Jana Small Finance Bank IPO: The initial public offering (IPO) of Jana Small Finance Bank sailed through on the second day as the IPO issue was fully subscribed.
Jana Small Finance Bank’s IPO, which opened for bidding on February 7, will close on Friday, February 9. The book built number is worth. ₹570 crore and has received a decent response from retail investors and Non-Institutional Investors (NIIs) so far.
Let’s check Jana Small Finance Bank IPO GMP, subscription status and other key details.
Jana Small Finance Bank IPO Subscription Status
Jana Small Finance Bank’s IPO has been subscribed 1.43 times so far on Thursday, the second day of the bidding process. It received total bids for 1.44 crore equity shares compared to 1.01 crore shares on the offer, according to data available on NSE till 2:30 pm
The public issue was subscribed 1.88 times in the retail category and 2.20 times in the Non-Institutional Investors (NII) category, while the Qualified Institutional Buyers (QIB) share has been reserved 14% so far.
Jana Small Finance Bank IPO GMP Today
Jana Small Finance Bank IPO GMP today, or gray market premium today, is ₹59 per share, according to market observers. This indicates that shares of Jana Small Finance Bank traded 14.25% higher than their IPO price at ₹473 in the gray market today.
Read here: Jana Small Finance Bank IPO opens; Check GMP, should you subscribe?
Jana Small Finance Bank IPO Review
Jana Small Finance Bank is the fourth largest small finance bank by assets under management (AUM) and also by deposit size as of September 30, 2023.
“At the upper price band of ₹414, Jana Small Finance Bank is available at a P/Bv of 1.4x (FY24E annualized), which appears to be reasonably priced compared to its peers. Given its rapid growth in deposits, diversified loan portfolio, strong brand equity, improved asset quality ratios, healthy return ratios and financial inclusion, we assign a ‘Subscribe’ rating on a medium to long-term basis,” said Geojit Financial Services.
Jana Small Finance Bank IPO Details
IPO of Jana Small Finance Bank started for public subscription on February 7 and will end on February 9. ₹570 crore worth issue consists of fresh issue of 1.12 crore equity shares coupled with ₹462 crore and an offer for sale (OFS) of 26.08 lakh shares aggregating to ₹108 crores.
The IPO price band was set at ₹393 to ₹414 per equity share. Jana SFB IPO lot size is 36 shares and the minimum investment amount required from retail investors is ₹14,904.
Before the opening of IPO, Jana Small Finance Bank raised ₹166.95 crore by allotting 40,32,588 equity shares to 17 anchor investors on February 6.
The IPO date of Jana Small Finance Bank is most likely on February 12, and the company can initiate repayments and credit the shares to investors’ demat accounts on February 13.
The equity shares of Jana Small Finance Bank are likely to be listed on February 14, both on BSE and NSE.
Axis Capital, ICICI Securities and SBI Capital Markets are the book-running lead managers of the Jana SFB IPO, while Kfin Technologies is the IPO registrar.
Read all IPO news here
Disclaimer: The opinions and recommendations made above are those of individual analysts or trading companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Here’s your comprehensive 3-minute summary of everything Finance Minister Nirmala Sitharaman said in her budget speech: Click to download!
Catch all Business News, Market News, News Events and Latest News Updates on Live Mint. Check out all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More or less
Published: 08 Feb 2024, 14:37 IST