The shares of Jana Small Finance Bank got listed at a discount of over 4% to the IPO on Wednesday, February 14. The stock debuted at ₹396 on the NSE as against an offer price of ₹414. On BSE too the stock was listed at ₹396.
Read More: WTI Cabs IPO Closes Today: Check Subscription Status, GMP Today
The ₹570-crore offer, which consisted of a fresh issue of 1.11 crore shares worth ₹462 crore and an offer for sale of 26.08 lakh shares worth ₹108 crore, was subscribed 19.8 times.
The price band for the IPO was set at ₹393-414 per share.
Under the OFS, Hero Enterprise Partner Ventures, Client Rosehill, CVCIGP II Employee Rosehill, and Growth Partnership II Ajay Tandon Co-Investment Trust were some of the selling shareholders in the Jana Small Finance Bank offer.
Jana Small Finance Bank is the fourth largest SFB in terms of AUM.
Read More: Stocks to Watch: Adani Green, ZEE, Eicher Motors, Jana SFB, BHEL, Oil India, and Others
As of September last year, the lender had 771 banking outlets, including 278 banking outlets in unbanked rural centres. The company boasts of marquee investors including TPG, HarbourVest Group, Amansa Capital, Morgan Stanley and Hero Ventures.
Jana SFB’s operations are digitalised and majority services are available online to customers with integrated risk and governance framework.
The small banking lender’s gross advances rose from ₹11,838 crore in FY21 to ₹18,001 crore in FY23, representing a CAGR of 23.31%, and further increased to ₹21,347, as of September 2023.
Read More: Vibhor Steel Tubes IPO Day 2: Check Subscription Status, GMP Today
For the period ended September 2023, total income surged 31% to ₹2,215 crore, while profit more than doubled to ₹213 crore.
