Jana SFB IPO closing today; Issue subscribed 3.07 times so far

9 Feb 2024 , 12:03 PM

The initial public offering (IPO) of Jana Small Finance Bank has garnered strong interest from investors, achieving full subscription on the second day of its offering. Click here to subscribe the IPO.

With the issue closing today, it has been subscribed times so far. The retail portion of the IPO has seen a subscription of 3.25 times, while the Non-Institutional Investors (NII) portion has received bids 6.70 times the offer size. However, the qualified institutional investors’ portion has been subscribed only 0.20 times. Additionally, a portion of the IPO reserved for employees has been subscribed 1.25 times.

The Jana Small Finance Bank IPO, which opened for bidding on February 7 and will close on February 9, aims to raise funds worth ₹570 crore. It has received a positive response from retail investors and NIIs.

The price band for the IPO has been set at ₹393 to ₹414 per equity share, with a lot size of 36 shares. The minimum investment amount required for retail investors is ₹14,904.

Ahead of the IPO opening, Jana Small Finance Bank raised ₹166.95 crore by allotting 40,32,588 equity shares to 17 anchor investors on February 6.

The allotment date for the Jana Small Finance Bank IPO is expected to be around February 12, with refunds and share credits to investors’ demat accounts likely to take place on February 13. Investors can stay updated on the allotment status through the IPO registrar’s website or the BSE portal.