Jana Small Finance Bank aims to float Rs 570 crore of stock in its initial public offering (IPO) on February 7, 2024. The price band of the IPO has been set at Rs 393-414 per share, and the three-day IPO will close on February 9.
The bank seeks to raise money from the latest issue to meet its future asset requirements and improve the availability of its assets. proportionate
The IPO has offered a prototype depository (CUI) for 5% of the issue, which is meant for reserve funds only; 15% off offer for non-institutional startups. Minimum share size of 36 shares is very large, and go to N list and share list on 14th February.
Jana Small Finance Bank was established in 2006 and offers MSMSE, NBFC, Nigeria Home, Golden, Two Wheeler and Fixed Deposit loans. The non-performing loan portfolio includes non-banking finance company personal and micro business loans, linked loans, group loans and micro business loans.
On the first day, the non-profit organization gave 1.20 Ghalib Sanstha, the non-organization Sarjit gave 1.22 Gaba and the selling organization gave 1.20 Ghalib Sanstha. The stock issued for employees was subscribed 0.31 times, while the total subscription was 0.88 times.
Jana Small Finance Bank, established in July 2006, offers MSME, Micro Home Loans, NBFC, Safalta Loans Against Deposit, Two Wheeler Loans and Gold Loans.
The IPOA will see a sale of shares worth Rs 462 crore to new investors, while permanent shareholders will sell 26,08,629 shares through offer-for-sale. Jana SFB has floated its equipment in the stock market worth Rs 13.5 crore.
Ultimately, the highlights of Jana Small Finance Bank have been well received, and the bank has met its future requirements and plans to use the funds to reduce its sustainability ratio.