IPO

Jana Small Finance Bank Limited IPO

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Other Bank

Listed On: Feb 14, 2024 at ₹ 396.0(NSE)

₹ 14904 /36 Shares

Check Allotment

07 Feb, 2024

Open Date

09 Feb, 2024

Close Date

12 Feb, 2024

Allotment Date

14 Feb, 2024

Listing Date
Price Summary

Last Closing

420.00 (1.45%)

52 Week High

552.50

52 Week Low

363.80

Last Update

18-Dec-2025 3:30 PM
Jana Small Finance Bank Limited IPO Issue Details
  • Issue Price ₹393-414 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 1,37,68,049 shares(aggregating up to ₹570 crore)
  • Fresh Share 1,11,59,420 shares(aggregating up to ₹462 crore)
  • Offer For Sale 26,08,629 shares(aggregating up to ₹108 crore)
  • Listing at BSE, NSE
  • List Price 396.0(NSE)
  • Listing Date 2024-02-14
  • Lead Manager Axis Capital Limited
    ICICI Securities Limited
    SBI Capital Markets Limited
  • Registrar Kfin Technologies Limited
Market Lot Size

Investors can bid for a minimum of 36 shares and in multiples thereof. The following 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 ₹1,93,752
SHNI(min) 14 504 ₹2,08,656
SHNI(max) 67 2,412 ₹9,98,568
BHNI(min) 68 2,448 ₹10,13,472
Jana Small Finance Bank Limited IPO Reservation

Jana Small Finance Bank Limited IPO offers total 13,441,961 shares. Out of which 2,688,392 (20%) allocated to QIB, 2,016,294 (15%) allocated to NII,4,704,687 (35%) allocated to RII, NA (NA%) allocated to employees and 4,032,588 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 4,032,588 (30%)
QIB Shares Offered 2,688,392 (20%)
NII (HNI) Shares Offered 2,016,294 (15%)
bNII > ₹10L 1,344,196 (10%)
sNII < ₹10L 672,099 (5%)
Retail Shares Offered 4,704,687 (35%)
Total Shares Offered 13,441,961 (100%)
Jana Small Finance Bank Limited IPO Documents
DRHP
RHP
Jana Small Finance Bank Limited IPO Details


Jana Small Finance Bank Limited IPO is a book-built issue of ₹570 crores, The total issue size is ₹570 crores. The IPO of Jana Small Finance Bank Limited is priced at ₹393-414 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Feb 7, 2024 and ends on Feb 9, 2024. The allotment for Jana Small Finance Bank Limited IPO will be finalized on Feb 12, 2024. Jana Small Finance Bank Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Feb 14, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 36 shares, extendable to 14,904. S-HNIs will be able to bid for 504 shares at ₹2,08,656, while B-HNIs can also apply for a bid of 2,448 shares at ₹10,13,472. The book-running lead manager for the IPO is/are Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited.

The total issue ₹570 crore, comprising a fresh issue of 1,11,59,420 shares ₹462 crore and having Offer for Sale (OFS) of 26,08,629 shares to mop up ₹108 crore.

The Jana Small Finance Bank Limited IPO sets its price band at 393-414 for each share. A single application for Jana Small Finance Bank Limited IPO must contain at least 36 shares. Sentiment investors need to invest a minimum of 36 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,904 In order to participate in the sNII, investors must purchase at least 14 lots of 504 shares for ₹2,08,656, while the bNII requires 68 lots of 2,448 shares for an investment of ₹10,13,472.

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Jana Small Finance Bank Limited IPO Subscription Analysis And Details
Retail
5.70x
QIB
39.81x
NII
26.13x
bNII
28.73x
sNII
20.94x
Total
19.89x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 2,688,392 2,016,294
1,344,196    672,099 		4,704,687 9,409,373
Day 1 07-02-24 05:00 PM
0.14 x 1.22
1.13 x   1.41 x 		1.20 x 0.88 x
Day 2 08-02-24 05:00 PM
0.19 x 3.03
2.73 x   3.62 x 		2.30 x 1.82 x
Day 3 09-02-24 05:00 PM
39.81 x 26.13
28.73 x   20.94 x 		5.70 x 19.89 x
Total No of Applications
702,847
Jana Small Finance Bank Limited Valuations
EPS Pre IPO ₹27.4/-
EPS Post IPO ₹40.77/-
P/E Pre IPO 15.11
P/E Post IPO 10.15
ROE 16.78%
Debt/Equity 3.49
RoNW 14.40%
Price to Book Value 1.28
Jana Small Finance Bank Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 25,643.69 20,188.71 19,078.66
Revenue 3,699.88 3,062.37 2,720.74
Profit After Tax 255.97 17.47 72.26
Net Worth 1,777.07 1,184.56 1,100.77
Reserves & Surplus 1,472.28 999.29 914.09
Total Borrowing 6,277.46 4,509.83 4,815.32
About Jana Small Finance Bank Limited Company

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,
(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.

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Jana Small Finance Bank Limited - Promoter(s)

Jana Capital Limited

Jana Holdings Limited

Pre Issue Share Holding : 25.20%

Post Issue Share Holding : N/A%

Jana Small Finance Bank Limited IPO - Issue Objectives
1

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.

Jana Small Finance Bank Limited IPO - Anchor Investors

Jana Small Finance Bank garners Rs 167 cr from anchor investors ahead of IPO.

A total of 17 institutional investors participated in the anchor book as per the data published on exchanges, including East Bridge Capital Master Fund and SBI Life Insurance Company, which were the biggest investors among them, buying Rs 24.99 crore worth of shares each.

Turnaround Opportunity Fund, HDFC Life Insurance Company, SBI General Insurance Company, and Kotak Iconic Fund were other big anchor investors, picking Rs 58 crore worth of shares in the small finance bank.

Among others, Citigroup Global, Copthall Mauritius Investment, Societe Generale Astrone Capital, 360 One Mutual Fund, Bandhan Mutual Fund, Tata AIA Life Insurance Company, Kotak Mahindra Life Insurance and Ananta Capital Ventures Fund also participated in the company's anchor book.

Jana Small Finance Bank Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
Jana Small Finance Bank Limited 47.47 42.64 323.23 N/A 14.4 N/A N/A
Au Small Finance Bank Ltd 21.86 21.74 164.64 35.47 13 4.71 Consolidated
Suryoday Small Finance Bank Limited 7.32 7.32 149.28 24.21 4.9 1.19 Consolidated
Creditaccess Grameen Ltd 52.04 51.82 326.89 32.66 16.18 5.2 Consolidated
Spandana Sphoorty Financial Ltd 1.74 1.74 436.58 665.52 0.4 2.65 Consolidated
Bandhan Bank Ltd 13.62 13.62 121.58 16.87 11.21 1.89 Consolidated
Ujjivan Financial Services Ltd 5.88 5.87 21.27 10.15 26.45 2.81 Consolidated
Equitas Small Finance Bank Limited 4.71 4.67 46.44 24.21 11.12 2.46 Consolidated
Fusion Micro Finance Ltd 43.29 43.13 230.74 14.68 16.67 2.75 Consolidated
Utkarsh Small Finance Bank Limited 4.52 4.51 22.33 13.51 20.22 2.73 Consolidated

Notes:

  1. P/E ratio is calculated as closing share price (January 16, 2024 - BSE) / Basic EPS for the year ended March 31, 2023.
  2. Basic and diluted EPS as reported in the relevant financial results of the respective company for the year ended March 31, 2023.
  3. Return on Net Worth (%) = Net profit/(loss) after tax / Net worth at the end of the year.
  4. Net asset value per share (in ₹) = Net worth at the end of the year / Total number of equity shares outstanding at the end of the year.
  5. P/B Ratio is calculated as closing share price as at January 16, 2024 at BSE divided by Net Asset Value per equity share.
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

+91 80 4602 0100

investor.grievance@janabank.com

https://www.janabank.com/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

jana.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/