Jana Small Finance Bank IPO Sees Strong Retail Response, Subscription Reaches 1.60x on Day 2

8 Feb 2024 , 11:48 AM

The Jana Small Finance Bank IPO opened for bidding on January 7 and will close on February 9, with a book-built issue worth ₹570 Crore. The IPO garnered a decent response from retail investors on the first day of bidding. Click here to subscribe the IPO

On the second day, at the time of writing, the Subscription status indicates 1.60 times in the retail category and 1.76 times in the Non-Institutional Investors’ (NII) category, with 0.14 times Qualified Institutional Buyers (QIB). 

The IPO comprises a fresh issue of 1.12 Crore equity shares worth ₹462 Crore and an offer for sale (OFS) of 26.08 Lakh shares worth ₹108 Crore.

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

Before the IPO opening, Jana Small Finance Bank raised ₹166.95 crore through allotment to 17 anchor investors on January 6. The IPO allotment date is expected on February 12, with refunds and share credits likely on February 13. The equity shares of Jana Small Finance Bank are anticipated to be listed on both BSE and NSE on February 14.

Jana Small Finance Bank, headquartered in Bangalore, India, began its operations on March 28, 2018. The bank holds a license issued by the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.

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