Jana Small Finance Bank Ltd IPO

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.

Open Demat Account

50years

Jana Small Finance Bank Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
₹ 137.68 L₹ 26.09 L₹ 47.05 L₹ 235.76 LBSE₹ 570 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
07 Feb, 2409 Feb, 2436 ₹ 14,148 Book Building14 Feb, 24

Jana Small Finance Bank Ltd IPO Dates

  • 07 Feb 2024

    Opening date

  • 09 Feb 2024

    Closing date

  • 12 Feb 2024

    Basis of
    Allotment

  • 13 Feb 2024

    Initiation of
    Refunds

  • 13 Feb 2024

    Credit of
    Shares

  • 14 Feb 2024

    Listing date

Details

SectorType
SectorBanks - Private Sector
Sub SectorNA
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB15.92x6720981107031060
NII26.13x201629452691004
Retail5.7x470468726804304
Employee2.06x326087670572
Total13.6x13768049187196940

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)FY23FY22FY21
Revenue from operations576.26324.6686.22
EBITDA638.17393.35167.04
PAT669.54255.975.41
Total Assets2,719.232,535.161,945.13
Share Capital104.59324.98201.41
Total Borrowings5,876.566,725.314,917.86
Operating Activities (Net Cash)731.45324.6686.23
Investing Activities (Net Cash)6,734.755,216.085,064.08
Financing Activities (Net Cash)5,876.566,725.314,917.86
Net Cashflow2,054.132,087.311,537.09

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.

Get your FAQs right

Jana Small Finance Bank Ltd's IPO offers shares for up to ₹ 0 L It begins on Feb 7, 2024 and ends on Feb 9, 2024.

The price of Jana Small Finance Bank Ltd IPO ranges between ₹393 to ₹414 per share.

The Jana Small Finance Bank Ltd IPO opens on Feb 7, 2024 and closes on Feb 9, 2024.

The allotment for the Jana Small Finance Bank Ltd IPO will be finalised on Feb 12, 2024. The shares will be listed on BSE and NSE on Feb 14, 2024.

The minimum lot size for Jana Small Finance Bank Ltd IPO is 36 shares, priced between ₹393 to ₹414 per share.

The GMP (Grey Market Premium) of Jana Small Finance Bank Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Jana Small Finance Bank Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Jana Small Finance Bank Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Feb 7, 2024, and closes on Feb 9, 2024. The allotment is finalised on Feb 12, 2024.

To apply for the Jana Small Finance Bank Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.