Jana Small Finance Bank IPO: Jana Small Finance Bank's initial public offering (IPO) has received a decent response from investors as far as the issue is oversubscribed.
Jana Small Finance Bank's IPO, which opened for bidding on February 7, will close today, February 9. INR570 million will consist of new issues and offers for sale (OFS).
Let's check Jana Small Finance Bank IPO GMP, subscription status and other important details.
Jana Small Finance Bank IPO Application Status
Jana Small Finance Bank's IPO was oversubscribed 4.5 times so far on Friday, the third and final day of the bidding process. The company received bids for a total of 4.55 billion shares against 1.01 billion shares at the time of offer, as per data available on NSE till 1.10 pm.
The public issue has been booked 3.77 times in the retail sector, 10.97 times in the non-institutional investor (NII) sector and 1.24 times in the qualified institutional investor (QIB) sector so far.
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Jana Small Finance Bank IPO Today GMP
Jana Small Finance Bank's IPO GMP today or today's Gray Market Premium is INR59 shares per share, according to market sources. This shows that Jana Small Finance Bank stock is trading 14.25% higher than his IPO price at the time. INR473 on the gray market today.
Jana Small Finance Bank IPO Review
Jana Small Finance Bank is the fourth largest small finance bank in terms of assets under management (AUM) and deposit size as of September 30, 2023.
“Jana SFB’s strong fundamentals are primarily driven by its intention to strengthen its liability franchise with a focus on growing its deposit base to obtain a stable, low-cost source of funding. The net proceeds of the issue will be utilized to strengthen the Tier-I capital base, improving capital adequacy and stabilizing the leverage position.Current P/BV based on book value as of September 2023 At a multiple of 1.2x, we believe there is reasonable valuation,” BP Equities said.
He advised investors to “subscribe” to this stock from a medium- to long-term perspective.
Jana Small Finance Bank IPO Details
Jana Small Finance Bank's IPO opened for public offering on February 7th and will close today, February 9th. INRThe issuance amount worth 570 million yen consists of a total of 1.12 billion new shares. INR462 million shares and total offering of 26.08 million shares (OFS) INR180 million.
IPO price range is fixed INRFrom 393 INR414 per share. Jana SFB IPO lot size is 36 shares and the minimum investment amount required for individual investors is INR14,904.
Ahead of IPO launch, Jana Small Finance Bank raised funds INROn February 6, it allotted 40,32,588 shares to 17 anchor investors and acquired 166.95 million shares.
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The net proceeds from the new issue will be used to augment the Bank's Tier-I capital base to meet the Bank's future capital requirements and general corporate objectives.
Jana Small Finance Bank's IPO allotment date is most likely to be February 12 and the company may start disbursing refunds and depositing shares in investors' demat accounts on February 13.
Jana Small Finance Bank's shares are likely to be listed on both BSE and NSE on February 14.
Axis Capital, ICICI Securities and SBI Capital Markets are the lead managers for the Jana SFB IPO and Kfin Technologies is the IPO registrar.
Read all IPO news here
Disclaimer: The views and recommendations above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.
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