Jana Small Finance Bank Limited IPO is set to launch on 7 February, 2024. The company initiated its business operations in the year 2006. It is an NBFC. The company provides various products like affordable housing loans, MSME Loans, term loans to NBFC, two wheeler loans, loans against fixed deposits, gold loans. The loans are classified into three categories like individual loans for school fees, individual loans for home improvements and repairs and individual loans for family functions, debt consolidation, incidental expense and business purposes. The CAGR of the company was 39.69% last year. It has provided services to over 12 million customers and it has 4.57 million active customers. It is present in 22 states and 2 union territories with 754 outlets. The bank has an employee base of 18184 people.
Jana Small Finance Bank Limited IPO DETAILS
Jana Small Finance Bank Limited IPO is set to launch on 7 February, 2024. The subscription timeline extends till 9 February, 2024. The size for the IPO is 570 Crore Rs. Shares issued through fresh issue mode are worth Rs 462 Crore. Shares issued through offer for sale mode are worth Rs 108 Crore. The lot size is 36 shares and the price is 393 Rs to 414 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 10 and this is a Book Built issue. The registrar for the company is KFin Technologies Limited.
Tabular Description of Jana Small Finance Bank Limited IPO
| IPO OPENING DATE | 7 February, 2024 |
| CLOSING DATE FOR IPO | 9 February, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 393 Rs. to 414 Rs. per share |
| LOT SIZE | 36 shares |
| MINIMUM ORDER QUANTITY | 36 shares |
| ISSUE SIZE | 570 Crore Rs. |
| OFFER FOR SALE | 108 Crore Rs. |
| FRESH ISSUE | 462 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 14 February, 2024 |
Jana Small Finance Bank Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 7 February, 2024 |
| CLOSING DATE FOR IPO | 9 February, 2024 |
| IPO ALLOTMENT DATE | 12 February, 2024 |
| REFUNDS | 13 February, 2024 |
| DEMAT A/C CREDITED ON | 13 February, 2024 |
| IPO LISTING DATE | 14 February, 2024 |
Jana Small Finance Bank Limited IPO begins for subscription from 7 February, 2024. The IPO subscription would continue till 9 February, 2024. The allotment status for the shareholders who applied would come on 12 February, 2024. The refunds for the ones who did not get allotment would be initiated on 13 February, 2024. The DEMAT accounts of shareholders would be credited on 13 February, 2024. The listing of the company would be completed on 14 February, 2024.
Jana Small Finance Bank Limited IPO : Lead Managers
The lead managers are :
- ICICI Securities Limited
- Axis Capital Limited
- SBI Capital Markets Limited
The minimum lot size for the company is decided at 36 shares. This holding accounts to 14904 Rs.. The maximum lot size is decided at 468 shares. This amounts to 193752 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 36 shares | 14904 Rs. |
| Maximum | 468 shares | 193752 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- With the IPO money the company might pay its outstanding loans.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 19078 | 20188 | 25463 |
| Revenue | 2720 | 3062 | 3699 |
| PAT | 72 | 17 | 255 |
Jana Small Finance Bank Limited had an asset base of 19078 Crore Rs in 2021 which increased to 20188 Crore Rs in 2022 and 25643 Crore Rs in 2023. The revenue of the firm was 2720 Crore Rs in 2021 which increased to 3062 Crore Rs in 2022 and 3699 Crore Rs in 2023. The profit of the firm was 72 Crore Rs in 2021 which decreased to 17 Crore Rs in 2022. In 2023 the profit of the firm was 255 Crore Rs.
PROS
- The company provides various products like affordable housing loans, MSME Loans, term loans to NBFC, two wheeler loans, loans against fixed deposits, gold loans.
- The loans are classified into three categories like individual loans for school fees, individual loans for home improvements and repairs and individual loans for family functions, debt consolidation, incidental expense and business purposes.
- The CAGR of the company was 39.69% last year.
- It has provided services to over 12 million customers and it has 4.57 million active customers. It is present in 22 states and 2 union territories with 754 outlets. The bank has an employee base of 18184 people.
Jana Small Finance Bank Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Jana Small Finance Bank Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
