New Delhi: The Initial Public Offering (IPO) of Jana Small Finance Bank is all set to open today. The bank will use the money from the fresh issue to augment its core capital to meet future capital requirements and to improve its capital adequacy ratio. Jana Small Finance Bank Limited, has allotted 40,32,588  Equity Shares to 17 anchor investors and raised Rs 166.95 crore ahead of the IPO on Tuesday..

“The Bank plans to raise funds through initial public offering comprising fresh issue of Equity Shares aggregating to ₹ 4,620.00 million (₹ 462 crore) ( the “Fresh Issue”)* after adjusting for the Pre-IPO placement and Offer of Sale aggregating up to 2,608,629  Equity Shares by the selling shareholders (the “Offer for Sale”) (together, the “Offer”). The Offer includes a reservation of up to ₹ 135.00 million for subscription by eligible employees (“Employee Reservation Portion”),” the company had said.

Here are key things you want to know about Jana Small Finance Bank IPO 

Jana Small Finance Bank’s issue consists of a primary share sale of Rs 462 crore at the upper end of the price band and the remaining Rs 108 crore as offer for sale.

The company has fixed Price Band at Rs 393 to Rs 414 per equity share of face value of Rs 10 each

Bid/ Offer will open on Wednesday, February 7, 2024 and close on Friday, February 9, 2024

The Anchor Investor Bidding Date was February 6, 2024 during which the company raised Rs 166.95 crore

Out of the total allocation of 40,32,588 Equity Shares to the Anchor Investors, 2,41,560 Equity Shares (i.e. 6 % of the total allocation to Anchor Investors) were allocated to 1 domestic mutual funds through a total of 2 schemes.

Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter

Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.