Jana Small Finance Bank IPO Oversubscribed 1.83 times on Day 2

8 Feb 2024 , 07:05 PM

The Jana Small Finance Bank’s initial public offering (IPO) went smoothly on day two, with 100% of the shares being purchased.

Click here to subscribe to the IPO.

The initial public offering (IPO) of Jana Small Finance Bank, which began on February 7 and will end on Friday, February 9. To date, the book built offering valued at ₹570 Crore has garnered a respectable response from both retail and non-institutional investors (NII).

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

On Thursday, the second day of the bidding process, 1.83 times as many people subscribed to the Jana Small Finance Bank IPO. According to information accessible on BSE, it received bids for 1.85 Crore equity shares overall, compared to 1.01 Crore shares on the sale.

Qualified Institutional Buyers (QIB) have booked 19% of the public offering, while retail subscribers have subscribed 2.31 times and non-institutional investors (NII) 3.05 times. 83% of the employee part was reserved.

Public subscription for the Jana Small Finance Bank initial public offering (IPO) opened on February 7 and will end on 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.

The IPO allotment date for Jana Small Finance Bank is most likely set for February 12; on February 13, the company might start refunding investors and crediting their demat accounts with the shares.

On February 14, Jana Small Finance Bank’s equity shares are probably going to be launched on the BSE and NSE.

The IPO registrar for the Jana SFB is Kfin Technologies, while the book running lead managers are Axis Capital, ICICI Securities, and SBI Capital Markets.

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