Jana Small Finance Bank IPO: From price range to GMP – 10 things to know before applying for issue

Jana Small Finance Bank is set to launch its initial public offering (IPO) this week. The IPO will begin offering on Wednesday, February 7th and will close on Friday, February 9th.

The company has fixed the IPO price range for Jana Small Finance Bank as follows. INRFrom 393 INR414 per share.

Also read: Jana Small Finance Bank IPO to launch next week;Fixed price range INRFrom 393 INR414 per share

Approximately 50% of the issue amount is reserved for Qualified Institutional Investors (QIBs), more than 35% of the issue amount is reserved for retail investors and more than 15% is reserved for NII investors.

Jana Small Finance Bank Limited is a non-banking financial company primarily engaged in providing MSME loans, affordable home 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 personal and micro business loans, agricultural and allied loans, and group loans.

The company grew its revenue by 20.82 percent and its profit after tax (PAT) by 1365.12 percent from the financial year ending March 31, 2023 to March 31, 2022.

The Bank proposes to utilize the net proceeds from the fresh issuance to augment the Bank's Tier-1 capital base to meet the Bank's future capital requirements. In addition, proceeds from fresh issuances will also be used to cover costs associated with the offer. The Bank expects to benefit from listing its shares on a stock exchange.

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Here are 10 important factors to consider before applying for Jana Small Finance Bank's IPO.

1. Jana Small Finance Bank IPO date: The Bookbuild issue will continue to be published from February 7th to 9th, 2024.
2. Jana Small Finance Bank IPO price range: Financial companies set fixed price ranges for public issues as follows: INRFrom 393 INR414 per share.
3. Jana Small Finance Bank IPO size: Small finance bank aims to raise funds INROf the $570 million from the initial offer, INRThe purpose of the $462 million is to issue new shares.rest INR180 million has been set aside for the OFS route.
4. Jana Small Finance Bank IPO Lot Size: Bidders can apply in lots, and one lot of public issue will consist of shares of 36 companies.
5. Jana Small Finance Bank IPO Promoter: The promoters of the company are Jana Capital Limited and Jana Holdings Limited.
6. Jana Small Finance Bank IPO Allotment Date: Following the T+3 listing rule, Jana Small Finance Bank's IPO allotment date is most likely to be February 12, 2024.
7. Jana Small Finance Bank IPO Listing Date: The IPO will be listed on BSE, NSE and the tentative listing date is fixed at Wednesday, February 14, 2024.
8. Jana Small Finance Bank IPO Registrar: KFin Technologies Limited has been appointed as the official registrar of the book creation issue.
9. Jana Small Finance Bank IPO Book Execution Manager: Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are acting as lead managers for the Jana SFB IPO.
10. Jana Small Finance Bank IPO GMP: Jana Small Finance Bank shares are currently available at: INRAccording to market sources, each piece sells for 80 pieces on the gray market.