Jana Small Finance Bank IPO Price: ₹393 to ₹414
IPO Date Range: Feb 7, 2024 - Feb 9, 2024
Established in July 2006, Jana Small Finance Bank Limited operates as a non-banking finance company with a primary focus on offering MSME loans, affordable housing loans, term loans to NBFCs, loans against fixed deposits, two-wheeler loans, and gold loans.
Jana SFB offers a range of unsecured loan products, including individual and micro-business loans, agricultural and allied loans, and group loans.
The bank categorizes its loans into three types:
Jana SFB also provides digital products, services, and platforms like mobile and internet banking for both retail and corporate clients. Over the period between March 31, 2021, and March 31, 2023, the bank's gross secured advances experienced substantial growth, increasing from ₹50,760.00 million to ₹99,047.54 million, indicating a Compound Annual Growth Rate (CAGR) of 39.69%.
As of March 31, 2023, Jana SFB boasted a widespread network with 754 banking outlets strategically spread across 22 states and two union territories, inclusive of 272 outlets situated in unbanked rural centers. This expansive pan-India presence has effectively mitigated the bank's concentration risk.
Since its inception in 2008, the bank has served nearly 12 million customers. As of March 31, 2023, there are 4.57 million active customers. Over the past three fiscal years, the bank has consistently expanded its customer base by adding 0.91 million, 0.51 million, and 0.08 million new customers in each respective year.
| IPO Date | February 7, 2024 to February 9, 2024 |
| Listing Date | Wednesday, February 14, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹393 to ₹414 per share |
| Lot Size | 36 shares |
| Total Issue Size | 13,768,049 shares (aggregating up to ₹570.00 Cr) |
| Fresh Issue | 11,159,420 shares (aggregating up to ₹462.00 Cr) |
| Offer For Sale | 2,608,629 shares of ₹10 (aggregating up to ₹108.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 93,430,855 |
| Share holding post issue | 104,590,275 |
Investors have the option to bid for a minimum of 36 shares, and they can bid in multiples of this amount. The table below outlines the minimum and maximum investment amounts for retail investors and HNIs, both in terms of shares and total value.
| 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) | 66 | 2412 | ₹998,568 |
| B-HNI (Min) | 67 | 2448 | ₹1,013,472 |
| 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 |
| 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 |
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During the fiscal year spanning from March 31, 2022, to March 31, 2023, Jana Small Finance Bank Limited experienced a notable 20.82% growth in revenue, accompanied by an impressive 1365.12% surge in profit after tax (PAT).
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 19078.66 | 20188.71 | 25643.69 | 28105.87 |
| Revenue | 2720.14 | 3062.37 | 3699.88 | 2215.57 |
| Profit After Tax | 72.26 | 17.47 | 255.97 | 213.22 |
| Net Worth | 1100.77 | 1184.56 | 1777.07 | 2547.11 |
| Reserves & Surplus | 914.09 | 999.29 | 1472.28 | 2225.44 |
| Total Borrowing | 4815.32 | 4509.23 | 6277.46 | 5313.14 |
| KPI | Values |
|---|---|
| Market Cap (₹ Cr.) | 4330.04 |
| EPS (Rs) | 27.4 |
| P/E (x) | 15.11 |
| ROE | 16.78% |
| Debt/ Equity | 3.49 |
| RoNW | 14.40% |
The bank intends to use the net proceeds from the fresh issue to bolster its Tier-1 capital base, addressing future capital needs. Additionally, the funds raised will cover expenses related to the offer. Listing the equity shares on stock exchanges is anticipated to bring about advantageous outcomes for the bank.
Prospectus: Official documents that provide detailed information about the IPO and the company. Jana Small Finance Bank DRHP and Jana Small Finance Bank RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Jana Small Finance Bank Limited" IPO is ₹393 to ₹414 per share.
The "Jana Small Finance Bank Limited" IPO is expected to be listed on Wednesday, 14 February 2024.
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