Jana Small Finance Bank Ltd IPO
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Jana Small Finance Bank Ltd IPO Details
Details
Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
---|---|---|---|---|---|
₹ 137.68 L | ₹ 26.09 L | ₹ 47.05 L | ₹ 235.76 L | BSE | ₹ 570 Cr |
IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
07 Feb, 24 | 09 Feb, 24 | 36 | ₹ 14,148 | Book Building | 14 Feb, 24 |
Jana Small Finance Bank Ltd IPO Dates
Details
Sector | Type |
---|---|
Sector | Banks - Private Sector |
Sub Sector | NA |
Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
---|---|---|---|
QIB | 15.92x | 6720981 | 107031060 |
NII | 26.13x | 2016294 | 52691004 |
Retail | 5.7x | 4704687 | 26804304 |
Employee | 2.06x | 326087 | 670572 |
Total | 13.6x | 13768049 | 187196940 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Jana Small Finance Bank Ltd Financial Status
Income Statement
Balance Sheet
Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
---|---|---|---|
Revenue from operations | 576.26 | 324.66 | 86.22 |
EBITDA | 638.17 | 393.35 | 167.04 |
PAT | 669.54 | 255.97 | 5.41 |
Total Assets | 2,719.23 | 2,535.16 | 1,945.13 |
Share Capital | 104.59 | 324.98 | 201.41 |
Total Borrowings | 5,876.56 | 6,725.31 | 4,917.86 |
Operating Activities (Net Cash) | 731.45 | 324.66 | 86.23 |
Investing Activities (Net Cash) | 6,734.75 | 5,216.08 | 5,064.08 |
Financing Activities (Net Cash) | 5,876.56 | 6,725.31 | 4,917.86 |
Net Cashflow | 2,054.13 | 2,087.31 | 1,537.09 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Jana Small Finance Bank Ltd
The Bank was incorporated as `Janalakshmi Financial Services Private Limited' on July 24, 2006 at Bengaluru, Karnataka as a private limited company under the Companies Act, 1956, and was granted the certificate of incorporation by the Registrar of Companies, Karnataka at Bengaluru (RoC). Janalakshmi Financial Services Private Limited, was granted a certificate of registration dated March 4, 2008 by Reserve Bank of India (RBI) to commence the business of non-banking financial institution without accepting public deposits, and was converted into an NBFC-MFI with effect from September 5, 2013. Subsequently, pursuant to a Board resolution dated June 1, 2015 and a Shareholders' resolution dated June 29, 2015, the Bank was converted into a public limited company under the Companies Act, 1956 with effect from August 10, 2015, and the name of the Bank was changed from `Janalakshmi Financial Services Private Limited' to `Janalakshmi Financial Services Limited', and a fresh certificate of incorporation of the Bank was issued by the RoC under such name. Janalakshmi Financial Services Limited, was granted a fresh certificate of registration as a non-banking financial institution without accepting public deposits dated September 18, 2015 pursuant to such name change. The Bank, then known as Janalakshmi Financial Services Limited, was granted an in-principle approval by the RBI to convert into a small finance bank (SFB) on October 7, 2015. Thereafter, the Bank received the final approval, dated April 28, 2017 from the RBI, to establish and carry on business as an SFB. Pursuant to resolutions passed by the Board and Shareholders on May 30, 2017 and January 12, 2018 respectively, the name of the Bank was changed from `Janalakshmi Financial Services Limited' to `Jana Small Finance Bank Limited', and a fresh certificate of incorporation dated January 29, 2018 was issued by the RoC consequent upon the change of name. the Bank commenced its business as an SFB with effect from March 28, 2018 and its name was included in the second schedule to the RBI Act pursuant to a notification dated July 16, 2019 issued by the RBI.
SFBs offer basic banking services such as payment, accepting deposits and lending to the unserved and the underserved segments of the Indian economy, including small businesses, marginal farmers, micro and small industries, and the unorganized sector. SFBs are focused on serving the customers at the bottom of the pyramid to drive financial inclusion. The growth in the industry is illustrated by the exponential growth in both advances and deposits and is supported by the robust rural growth, new product offerings and associated cross-selling opportunities, which will drive the SFBs' market share to multi folds in the future.
Jana Small Finance Bank Limited is a small finance bank with its registered and corporate office in Bengaluru, Karnataka, India. As at September 30, 2023, the bank had 771 banking outlets in 22 states and two union territories. Its primary products are deposits (demand deposits, savings deposits and term deposits) and advances. The Bank offers secured loans, including micro loans against property, loans to micro, small and medium enterprises, affordable housing loans, term loans to non-banking finance companies, loans against fixed deposits, two-wheeler loans and gold loans, and unsecured loans, including individual and micro business loans, agricultural and allied loans, and loans offered to groups of women as per the joint liability group model.
Peer Comparison:
- Electronica Finance Ltd
- Suryoday Small Finance Bank Ltd
- SAY India Jewellers Pvt Ltd
- Spandana Sphoorty Financial Ltd
- Bandhan Bank Ltd
- Ujjivan Small Finance Bank Ltd
- Equitas Small Finance Bank Ltd
- Fusion Micro Finance Ltd
- Utkarsh Small Finance Bank Ltd
Jana Small Finance Bank Ltd IPO Key Points
Strengths
- Digitalised bank and majority services are available in digital form to customers.
- Integrated risk and governance framework.
- Professional and experienced management and Board.
- Customer-centric organization with more than 16 years' experience in serving underbanked and underserved customer.
- Pan-India presence with strong brand recognition.
Risk
- The bank is subject to inspections by various regulatory authorities, such as the RBI, PFRDA, IRDA and National Pension System Trust. Non-compliance with the observations of such regulators could adversely affect its business, financial condition, results of operations and cash flows.
- The bank is subject to stringent regulatory requirements and prudential norms. In addition, some of these regulatory requirements and prudential norms are more onerous for Small Finance Banks compared to other banks. The bank has not been able to comply with certain provisions of the SFB Licensing Guidelines and the RBI Final Approval. As a result, the RBI may take regulatory action against it, which could include imposition of monetary penalties, revocation of the RBI Final Approval or such other penal actions and restrictions deemed fit by the RBI, the imposition of any of which could have a material adverse effect on its business, financial condition, results of operations and cash flows.
- Its Bank is subject to restrictions relating to the Equity Shares as per the RBI In-Principle Approval, RBI Final Approval, SFB Licensing Guidelines and SFB Operating Guidelines.
Strategy
- Focus on accelerating its secured loans book with the purpose of meeting customers' needs and diversifying its lending book.
- Reshape its unsecured loans (Microfinance Loans) business.
- Improve our risk profile.
- Enhance the growth of Retail Deposits.
- Alliances with third parties from banking to broking.
- Digitalised bank and majority services are available in digital form to customers.
- Integrated risk and governance framework.
- Professional and experienced management and Board.
- Customer-centric organization with more than 16 years' experience in serving underbanked and underserved customer.
- Pan-India presence with strong brand recognition.
How To Apply for Jana Small Finance Bank Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.