Adrian Johnson**TLDR:**
– Jana Small Finance Bank’s IPO has been subscribed 34% on the first day of bidding, with total bids for 34.66 lakh equity shares as compared to 1.01 crore shares on offer.
– The retail category is subscribed 0.59 times, while the Non-Institutional Investors’ category is subscribed 0.25 times.
– The IPO price band is set at ₹393 to ₹414 per equity share, with a lot size of 36 shares and a minimum investment amount of ₹14,904 for retail investors.
– Jana Small Finance Bank is the fourth largest small finance bank in terms of assets under management and deposit size.
– The IPO will raise ₹570 crore, with the listing set for February 14.
Jana Small Finance Bank’s IPO has seen a subscription of 34% on the first day of bidding, with total bids for 34.66 lakh equity shares as compared to 1.01 crore shares on offer. The retail category is subscribed 0.59 times, while the Non-Institutional Investors’ category is subscribed 0.25 times. The IPO price band is set at ₹393 to ₹414 per equity share, with a lot size of 36 shares and a minimum investment amount of ₹14,904 for retail investors.
Jana Small Finance Bank is the fourth largest small finance bank in terms of assets under management (AUM) and deposit size. It is a digitalized bank that offers majority services in digital form to customers. The bank also has a pan-India presence with strong brand recognition. Anand Rathi, a brokerage firm, believes that the IPO is fairly priced and recommends a ‘Subscribe’ rating for the IPO.
The IPO will raise ₹570 crore, with the listing set for February 14. Axis Capital, ICICI Securities, and SBI Capital Markets are the book running lead managers, while Kfin Technologies is the IPO registrar.
