Jana Small Bank IPO Overflows! Subscribed 18.5 Times on Final Day

9 Feb 2024 , 07:12 AM

Investor response to Jana Small Finance Bank’s initial public offering (IPO) has been respectable thus far, as the offering has been significantly oversubscribed.

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The public offering (IPO) of Jana Small Finance Bank, which began on February 7 and is closing today, February 9. The ₹570 Crore book constructed issue consists of an offer for sale (OFS) and a new issue.

Let’s examine the subscription status and other important information for Jana Small Finance Bank.

The IPO for Jana Small Finance Bank has received 18.5 subscriptions as of this Friday, the third and last day of the bidding procedure. According to information available on the NSE through 5:00 pm, it got bids for a total of 18.71 Crore equity shares, as opposed to 1.01 Crore shares on the offer.

The Qualified Institutional Buyers (QIB) component of the public offering has been booked 38.75 times thus far, while the retail category subscribed 5.46 times and the non-institutional investors (NII) category 25.05 times.

Public subscription for the Jana Small Finance Bank initial public offering (IPO) opened on February 7 and will end today, February 9. The ₹570 Crore offering consists of an offer for sale (OFS) of 26.08 lakh shares, totaling ₹108 Crore, and a new issue of 1.12 Crore equity shares, totaling ₹462 Crore.

A fixed price range of ₹393 to ₹414 per equity share has been set for the IPO. The minimum investment amount required by retail investors in the Jana SFB IPO is ₹14,904, with lots of 36 shares.

Jana Small Finance Bank raised ₹166.95 Crore prior to the IPO opening on February 6 by distributing 40,32,588 equity shares to 17 anchor investors.

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