Jana Small Finance Bank Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 7, 2024 to February 9, 2024 |
| Listing Date | February 14, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 393 to ₹ 414 per share |
| Lot Size | 36 Shares |
| Total Issue Size | 1,37,68,049 shares (aggregating up to ₹ 570.00 Cr) |
| Fresh Issue | 1,11,59,420 shares (aggregating up to ₹ 462.00 Cr) |
| Offer for Sale | 26,08,629 shares of ₹10 (aggregating up to ₹ 108.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 9,34,30,855 |
| Share holding post issue | 10,45,90,275 |
About Jana Small Finance Bank Limited IPO
Jana Small Finance Bank (JSFB) is the fourth largest Small Finance Bank in terms of AUM and the fourth largest Small Finance Bank in terms of deposit size as of September 30, 2023. As of September 30, 2023, it had 771 banking outlets, including 278 banking outlets in unbanked rural centers, in 22 states and two union territories. The company has served nearly 12 million customers since 2008, including 4.87 million active customers as of September 30, 2023. Its primary secured loan products are secured business loans, micro loans against property ("Micro LAP"), MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans and gold loans.
Its primary unsecured loan products are individual and micro business loans, agricultural and allied loans and group loans. Jana SFB IPO is a book-built issue of Rs 570.00 crores. The issue is a combination of fresh issue of 1.12 crore shares aggregating to Rs 462.00 crores and offer for sale of 0.26 crore shares aggregating to Rs 108.00 crores. Jana SFB IPO price band is set at ₹393 to ₹414 per share. The minimum lot size for an application is 36 Shares. Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the book running lead managers of the Jana SFB IPO, while Kfin Technologies Limited is the registrar for the issue.
Objectives of Jana SFB IPO
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 SFB IPO Review
This SFB is the fourth largest financial service provider in India and has posted remarkable growth in its performance. No doubt, it marked a setback in margins for FY22 in line with general trends for the industry on account of the Pandemic. Based on annualized FY24 earnings, the issue appears reasonably priced. Investors may park funds for the medium to long term rewards.
Jana Small Finance Bank Limited IPO Financial Information
Latest Revenue
2,215.57
₹ Crore
Profit After Tax
213.22
₹ Crore
Net Worth
2,547.11
₹ Crore
Total Borrowing
5,313.54
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 28,105.87 | 2,215.57 | 213.22 | 2,547.11 | 5,313.54 | ||||
| 31 Mar 2023 | 25,643.69 | 3,699.88 | 255.97 | 1,777.07 | 6,277.46 | ||||
| 31 Mar 2022 | 20,188.71 | 3,062.37 | 17.47 | 1,184.56 | 4,509.83 | ||||
| 31 Mar 2021 | 19,078.66 | 2,720.74 | 72.26 | 1,100.77 | 4,815.32 | ||||
| Amount in ₹ Crore | |||||||||
Jana Small Finance Bank Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 16.78% |
| Debt/Equity | 3.49 |
| RoNW | 14.40% |
| P/BV | 1.28 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 27.4 | 40.77 |
| P/E (x) | 15.11 | 10.15 |
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Competitive Strengths
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Jana Small Finance Bank Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,904 |
| Retail (Max) | 13 | 468 | ₹193,752 |
| S-HNI (Min) | 14 | 504 | ₹208,656 |
| S-HNI (Max) | 67 | 2,412 | ₹998,568 |
| B-HNI (Min) | 68 | 2,448 | ₹1,013,472 |