Jana Small Finance IPO: Jana Small Finance Bank IPO Details

Jana Small Finance Bank Limited has made its mark in the financial sector, particularly in serving the underbanked and underserved segments of the population. Recently, the bank announced its Initial Public Offering (IPO) on both the NSE and BSE exchanges. This IPO comprises both a Fresh Issue, valued at Rs 462 Cr, and an Offer for Sale (OFS) of approximately 26.08 Lakh Shares. The subscription window for the IPO is open from 7th February to 9th February 2024, offering shares at a face value of Rs 10 each. Investors can apply for the IPO by purchasing at least one lot of 36 shares or its multiples, within a price band of Rs 393 to Rs 414 per share, as outlined in the offer document.

Jana Small Finance Bank IPO Grey Market Premium (GMP)

The Grey Market Premium (GMP) is a key indicator that reflects the unofficial market sentiment regarding an IPO prior to its listing. It’s essentially the price at which the IPO is traded in the unofficial or unregulated grey market. The GMP can provide insights into how the IPO might perform on its listing day. For Jana Small Finance Bank IPO, the latest GMP stands at ₹16, as of today. With a price band of Rs 414.00, the estimated listing price for the IPO is calculated to be ₹430 (adding the cap price and today’s GMP). This suggests an expected percentage gain/loss per share of 3.86%.

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Also Read: Upcoming IPO in India

Jana Small Finance Bank IPO GMP Trend

Below is a table showcasing the day-wise trend of Jana Small Finance Bank IPO GMP: [ Last Updated: 14 Feb, 2024; 08:50]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
14-02-2024414.00₹16400/5600₹430 (3.86%)
13-02-2024414.00₹16400/5600₹430 (3.86%)
12-02-2024414.00₹30800/11200₹444 (7.25%)
11-02-2024414.00₹371000/14000₹451 (8.94%)
10-02-2024414.00₹421100/15400₹456 (10.14%)
09-02-2024414.00₹421100/15400₹456 (10.14%)
08-02-2024414.00₹591600/22400₹473 (14.25%)
07-02-2024414.00₹551500/21000₹469 (13.29%)
06-02-2024414.00₹661800/25200₹480 (15.94%)
05-02-2024414.00₹802200/30800₹494 (19.32%)
04-02-2024414.00₹1083000/42000₹522 (26.09%)
03-02-2024414.00₹1083000/42000₹522 (26.09%)
02-02-2024414.00₹0₹414 (0%)

Also Read: When Can a Company Go for IPO in India

About Jana Small Finance Bank

Jana Small Finance Bank is a non-banking finance company (NBFC) and is the fourth largest small finance bank in terms of Assets Under Management (AUM), amounting to Rs 201,018.02 million. The company offers a range of secured and unsecured loan products catering to various segments of the market. Its gross advances, as of March 31, 2023, stood at Rs 180,007.41 million. Additionally, the bank acts as a third-party corporate agent for various insurance products.

Strengths of Jana Small Finance Bank IPO

  • New-age digitalized bank with a rapidly growing retail deposits base.
  • Over 16 years of experience in serving the unbanked and underserved segments.
  • Customer-centric organization with a strong track record.
  • Integrated risk management and governance framework.
  • Professional and experienced management with reputable shareholders.
  • PAN India presence with strong brand recognition.

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Jana Small Finance Bank IPO Objective

The primary objective of the IPO is to augment the bank’s Tier-1 capital base to meet future capital requirements. The net proceeds from the Fresh Issue will also be allocated towards meeting the expenses related to the IPO. The bank anticipates benefits from listing its equity shares on the stock exchanges.

Jana Small Finance Bank IPO Dates

Here are the important dates related to the Jana Small Finance Bank IPO:

  • IPO Open Date: 7th February 2024
  • IPO Close Date: 9th February 2024
  • Basis of Allotment Finalisation Date*: 12th February 2024
  • Refunds Initiation*: 13th February 2024
  • Credit of Shares to Demat Account*: 13th February 2024
  • IPO Listing Date: 14th February 2024 ( – Tentative Dates)

Conclusion

The Grey Market Premium for Jana Small Finance Bank IPO indicates a positive sentiment among investors. However, it’s crucial to note that GMP is subject to extreme volatility and may not always accurately predict the performance of an IPO. Investors should conduct thorough research and consider various factors before making investment decisions. Jana Small Finance Bank’s strong market presence, experienced management, and growth prospects make it an attractive proposition for investors looking to participate in its IPO.

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