Jana Small Finance Bank IPO: NBFC mobilises ₹617 crore from anchor investors ahead of subscription

SBI Life Insurance Company, East Bridge Capital Master Fund were among the biggest anchor investors. Citigroup Global, Turnaround Opportunity Fund, Tata AIA Life Insurance Company, Kotak Mahindra Life Insurance, 360 One Mutual Fund, HDFC Life Insurance Company, SBI General Insurance Company, and Kotak Iconic Fund also participated in the company’s anchor book.

Also Read: Jana Small Finance Bank IPO: From price band to GMP – here are 10 things to know before subscribing to the issue

Jana Small Finance Bank IPO Details:

The small finance bank aims to raise ₹570 crore from its initial offer out of which ₹462 crore is aimed at issuance of fresh shares. The remaining ₹108 crore is reserved for the offer-for-sale (OFS) route. A bidder will be able to apply in lots and one lot of the public issue will comprise 36 company shares.

Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the book running lead managers of the Jana SFB IPO. KFin Technologies Limited has been appointed as the official registrar of the book build issue. In the wake of the T+3 listing rule, Jana Small Finance Bank’s IPO allotment date is most likely on February 12, 2024.

The NBFC proposes to utilize the net proceeds from the fresh issue towards augmenting the bank’s tier – 1 capital base to meet the future capital requirements. Further, the proceeds from the issue will also be used towards meeting the expenses in relation to the offer. 

Jana Small Finance Bank offers various unsecured loan products, including individual and micro business loans, agricultural and allied loans, and group loans.

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Published: 06 Feb 2024, 09:33 PM IST