₹ 14904 / 36 shares
Issue Date
07 Feb - 9 Feb'24
Investment/lot
₹ 14904
Price Range
393 - 414
Lot Size
36
IPO Size
₹ 570.00 Cr
Listing On
14 Feb'24
Issue Price
414
Listed Price
₹ 396
Retail Gain/Listing Gain
▼-4.35%
Jana Small Finance Bank 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. (Source: Fitch Report).
The company was registered as a non-banking finance company (NBFC) in 2008 and was awarded a non-banking finance company-microfinance institution (NBFC-MFI) status in 2013. The company started operating as a small finance bank in 2018, and became a scheduled commercial bank in 2019.
With that, let's take a look at the competitive strengths and risk factors for Jana Small Finance Bank Limited:
Digitalised bank with majority services available in digital form to customers
The company’s core banking is supported by integrated multi-channel operations. It leverages technology to identify opportunities and deliver products and services to target customers. Its new products are designed with application programming interface (API) technology to increase operating efficiencies, deliver better quality services, and allow for integration with the larger ecosystem leveraging the API framework.
Pan-India presence with strong brand recognition
As of September 30, 2023, the company had 771 banking outlets, including 278 banking outlets in unbanked rural centres, in 22 states and two union territories. Its pan-India presence has enabled it to reduce its concentration risk.
Fast-growing retail deposit base and diversified deposit franchise
The company was among the top four small finance banks in India in terms of deposit size as of September 30, 2023 (Source: Fitch Report). Its deposits increased from Rs. 123,162.58 million as of March 31, 2021, to Rs. 163,340.16 million as of March 31, 2023, representing a CAGR of 15.16%, and further increased to ₹189,367.24 million as of September 30, 2023, an increase of 15.93%.
Here are the key financials for Jana Small Finance Bank Limited:
Particulars (in Rs. million)
Particulars (in Rs. million)
How to apply for IPO through ASBA
Kotak Securities
•4m 01s
Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.
Here are the steps to apply for Jana Small Finance Bank Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Jana Small Finance Bank Ltd will list on 2024-02-14.
570.00 is the issue size of Jana Small Finance Bank Ltd IPO.
The minimum lot size is 36 shares and the investment required is ₹14904.
The price band of Jana Small Finance Bank Ltd IPO is ₹393 to ₹414.
You can read more about Jana Small Finance Bank Ltd and its IPO from the company’s red herring prospectus (RHP) here.
The Jana Small Finance Bank Limited IPO has an issue size of Rs. 570 crores. The IPO opens for subscription on 7th February and closes on 9th February 2024.
KFin Technologies Limited is the registrar for this IPO.
You may read more about Jana Small Finance Bank Limited and its IPO from the company’s red herring prospectus (DRHP) here: