Jana Small Finance Bank allotment out; Check details here

13 Feb 2024 , 10:49 AM

The eagerly awaited initial public offering (IPO) of Jana Small Finance Bank Ltd, which concluded on February 9, has now moved into the allotment phase. Investors who participated in the IPO can now check the status of their applications online.

The IPO allotment process has been finalized, and investors can conveniently verify their application status on the BSE website or the official website of the Jana Small Finance Bank IPO registrar, KFin Technologies Pvt Ltd.

Those fortunate investors who have been allotted equity shares in the Jana Small Finance Bank IPO can expect to see their shares credited directly into their demat accounts today. Conversely, for investors whose IPO application bids were not successful, the company will issue refunds accordingly.

The overwhelming response from investors is evident in the subscription status of the IPO, which witnessed robust demand across all categories. The IPO, which opened for subscription on February 7 and closed on February 9, was oversubscribed by an impressive 18.5 times against its offer size.

Specifically, the retail category saw a subscription rate of 5.46 times, while the Non-Institutional Investors’ (NII) category was oversubscribed by 25.05 times. The Qualified Institutional Buyers’ (QIB) portion experienced significant demand, with a subscription rate of 38.75 times.

The ₹570 Crore IPO consisted of a fresh issue of 1.12 crore equity shares, aggregating to ₹462 crore, and an offer for sale (OFS) of 26.08 lakh shares, aggregating to ₹108 crore. The IPO was offered in the price band of ₹393 to ₹414 per equity share.

Prior to the IPO opening, Jana Small Finance Bank had already raised ₹166.95 Crore by allotting 40,32,588 equity shares to 17 anchor investors on February 6, setting the stage for a successful public offering.