Jana Small Finance Bank Limited has initiated its Initial Public Offering (IPO), aiming to raise Rs 570 crores through a book-built issue. The IPO comprises a fresh issue of 1.12 crore shares, totaling Rs 462 crores, and an offer for sale of 0.26 crore shares, amounting to Rs 108 crores.
Jana Small Finance Bank Subscription WindowThe bidding for the Jana SFB IPO commenced on February 7, 2024, concluding on February 9, 2024.
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Jana Small Finance Bank IPO Allotment DateThe finalization of allotments is anticipated on Monday, February 12, 2024.
Jana Small Finance Bank IPO Listing DateThe bank is scheduled to list on both BSE and NSE with a tentative listing date set for Wednesday, February 14, 2024.
Jana Small Finance Bank Price BandThe price band for the Jana SFB IPO is fixed at Rs 393 to Rs 414 per share, with a minimum lot size of 36 shares. Retail investors are required to invest a minimum amount of Rs 14,904. For sNII, the minimum lot size is 14 lots (504 shares), totaling Rs 208,656, while bNII requires an investment in 68 lots (2,448 shares), amounting to Rs 1,013,472.
Jana Small Finance Bank IPO GMPAs per multiple websites that track the grey market premium activities, the shares of Jana Small Finance Bank IPO are commanding a GMP in the price range of Rs 40 – Rs 50 in the unlisted market.
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To check the allotment status of Jana Small Finance Bank IPO on BSE, follow these steps:
–Visit the official BSE website at bseindia.com/investors/appli_check.aspx.
–Choose the option for Jana Small Finance Bank Limited IPO.
–Enter your Jana Small Finance Bank IPO application number.
–Provide your PAN details as required.
–Complete the captcha by clicking on ‘I’m not a robot’.
–Finally, click the ‘Submit’ button to retrieve the allotment status.
The bank intends to utilise the net proceeds from the Fresh Issue to bolster its Tier-1 capital base for future capital needs. Additionally, funds will be allocated to cover expenses related to the IPO.
Read More: Two IPOs to open for subscription next week. Check details
The Jana Small Finance Bank Limited was established in July 2006 and it is a non-banking finance company specializing in MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans, and gold loans. The bank provides various unsecured loan products, including individual and micro-business loans, agricultural and allied loans, and group loans.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TN NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
