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Jana Small Finance Bank IPO

Price Range (₹)

Rs. 393–Rs. 414

Issue Size (₹ in Cr.)

Up to 570 Cr

Minimum Quantity

36 Shares

Bidding Period

Feb 7 – Feb 9, 2024
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Jana Small Finance Bank IPO Issue timeline

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About the Jana Small Finance Bank IPO

- The fourth largest Small Finance Bank in terms of AUM. (Source: Fitch Report)
- Served nearly 12 million customers since 2008, including 4.87 million active customers as at September 30, 2023
- As at September 30, 2023, they had 771 banking outlets, including 278 banking outlets in unbanked rural centres, in 22 states and two union territories.

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Strengths

New age digitalised bank

They are a new age digitalised bank. Their core banking is supported by integrated multi-channel operations. They leverage technology to identify potential opportunities, deliver products and services to their target customers, and improve customer satisfaction and business efficiency. (Source: Company DRHP)

Robust risk and governance framework

Their integrated risk management framework lays down their core principles in identifying, measuring, assessing, and managing the key risks. They have put in place detailed risk management policies and a governance structure for each type of key risks, including credit, operations, liquidity, interest, market, cyber and information security, and reputational risks.  (Source: Company DRHP)

Pan-India presence with strong brand recognition

As at March 31, 2023, they had 754 banking outlets, including 272 banking outlets in unbanked rural centres, in 22 states and two union territories. The percentage share of their gross advances in top state was 12.88% and top three states combined was 37.79% as at March 31, 2023. (Source: Company DRHP)

Risks

Subject to inspections by various regulatory authorities,

They are subject to periodic inspections by various regulatory authorities, including the RBI, the PFRDA,IRDA and NPS. They have responded to these observations with compliances, wherever applicable. They cannot assure that the RBI will not require them to take further actions to comply with their observations or that RBI will not make similar or other observations in the future. While they seek to comply with all regulatory provisions applicable to them, in the event they are unable to comply with the observations made by the RBI, they could be subject to sanctions and/or penalties imposed by the RBI(Source: Company DRHP)

They are involved in certain legal proceedings

There are outstanding legal proceedings involving Bank. These proceedings are pending at different levels of adjudication before various courts, tribunals and appellate tribunals. They cannot assure that these proceedings will be decided in their favour. (Source: Company DRHP)

Financials

  • Net Worth
  • Total Income
  • Total Borrowings
  • Profit After Tax
  • Earnings Per Share

Industry Trends

- On-tap small finance banks' licensing in the private sector: There are significant untapped opportunities in the informal/ semi-formal sectors, and efficiency of SFBs delivery model can be used for the underserved segment. The RBI announced 'on tap' licensing in September 2019. In December 2019, the RBI issued guidelines for on-tap licensing of SFBs to further financial inclusion and widen competition.
- Deposit trends in the SFB industry: SFBs’ deposits have grown at a CAGR of 35.6% in the period from Fiscals 2021 to 2023. They have expanded their customer base, driven by large scale new customer acquisitions across assets and deposit products. Low cost of client acquisition over the long term due to wider reach, customer-centric approach and technology usage and high interest rates as compared to traditional banks are the major reason for the deposit growth (Source: Company DRHP)

Subscription Status

Retail Individual Investor
Non-Institutional Investor
Qualified Institutional Buyers
Overall

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Follow 3 simple steps TO APPLY IPO

  • Directly from Bank A/c

    For ICICI Bank linked A/c

  • Using UPI

    For non ICICI Bank A/c

  • lock-in of 3 years
    Select IPO

    Go to the IPO section, select the IPO you want to apply from the list and click on ‘Apply’.

  • lock-in of 3 years
    Fill in the required details

    Fill in the quantity of the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.

  • lock-in of 3 years
    Confirm your request

    Click on proceed to confirm the order. You can view the placed order under “order book”.

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  • lock-in of 3 years
    Select IPO

    Choose the IPO you want to apply from the list. Click on Apply.

  • lock-in of 3 years
    Fill in the required details

    Fill in the quantity of shares. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.

  • lock-in of 3 years
    Confirm your request

    Check the A/C, UPI details and click on proceed. You will get an UPI link by which payment can be made.

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Jana Small Finance Bank IPO FAQs

The lot size is 36 shares and minimum investment required is Rs.14,904 for Jana Small Finance Bank IPO

Jana Small Finance Bank IPO is mainboard IPO of issue size up to Rs.570 Crores

Jana Small Finance Bank IPO issue dates are from 07th -09th Feb, 2024

The allotment date is 12th Feb, 2024 and listing date is 14th Feb,2024 for Jana Small Finance Bank IPO

Head to IPO section on ICICI Direct website and select Jana Small Finance Bank IPO. Enter and submit bid details and then click on proceed to apply once details are verified. It’s that simple!!

The price band of Jana Small Finance Bank IPO is Rs.393 – Rs.414

The book runners for the Jana Small Finance Bank IPO are ICICI Securities Ltd, SBI Capital Markets Ltd, Axis Capital Ltd.

The objectives of Jana Small Finance Bank IPO are to utilize the Net Proceeds from the Fresh Issue towards augmenting Bank’s Tier– 1 capital base to meet their Bank’s future capital requirements, to improve their Tier-I capital and CRAR. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer.

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Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.