Jana Small Finance Bank Limited IPO
Jana Small Finance Bank Limited IPO
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Jana Small Finance Bank Limited's successfully completed its Initial Public Offering and commenced trading on 14-02-2024 at the NSE, BSE exchange. The company raised 1,37,68,049 Shares through this public offering, comprising 1,11,59,420 Shares in fresh capital and ₹108.00 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹393 to ₹414, with minimum application lots of 36 shares. The offering attracted significant investor interest during its subscription period from 07-02-2024 to 09-02-2024.
Share allotment was finalized on 12-02-2024, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Jana Small IPO About Company
Founded in July 2006, Jana Small Finance Bank has grown into a key player in the financial sector, offering a variety of services for individuals and businesses. Their loan offerings include MSME loans, affordable housing loans, term loans to NBFCs, loans against fixed deposits, two-wheeler loans, and gold loans. Jana SFB also provides unsecured loans for various needs, including micro-businesses, agriculture, education, home improvements, and personal expenses. Their loan portfolio is structured into three categories, covering everything from school fees and debt consolidation to business growth. The bank is committed to digital banking, offering seamless mobile and internet banking services for both retail and corporate customers. Between March 31, 2021, and March 31, 2023, their secured advances nearly doubled, growing at an impressive 39.69% CAGR, reaching ₹99,047.54 million. With 754 banking outlets across 22 states and 2 union territories, including 272 branches in unbanked rural areas, Jana SFB has successfully reduced regional concentration risks. Since its launch, Jana SFB has served 12 million customers, with 4.57 million active customers as of March 31, 2023. Over the past three years, they have consistently expanded their customer base, adding 0.91 million, 0.51 million, and 0.08 million new customers annually. The bank’s success is driven by its dedicated team of 18,184 employees, committed to providing top-notch financial services and ensuring customer satisfaction.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Jana Small IPO Strength Factors
- A strong risk and governance framework ensures effective risk management and regulatory compliance, making the bank stable and reliable.
- As a fully digital bank, most services are available online, offering customers easy and convenient banking anytime, anywhere.
- A team of experienced professionals and leaders provides strategic direction, driving the bank’s growth and success.
- With over 16 years of experience, the bank has a customer-first approach, focusing on serving underbanked and underserved communities with tailored financial solutions.
- A strong brand presence across India helps the bank reach a wide customer base, strengthening its market position.
Jana Small IPO Risk Factors
- The bank must follow RBI and SFB regulations regarding Equity Shares, which could limit its growth or expansion plans.
- It is regularly inspected by regulators like RBI, PFRDA, IRDA, and the National Pension System Trust. Failure to meet compliance standards could negatively impact its operations, finances, and cash flow.
Jana Small IPO Lead Manager(s)
- Axis Capital Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
Jana Small IPO Promoter(s)
- Jana Capital Limited
- Jana Holdings Limited
Jana Small IPO FAQs
Jana Small Finance Bank Limited IPO subscribed 19.19 times. The public issue subscribed 5.7 times in the retail category,39.81times in QIB, and 28.73 times in the HNI (10+) category byNovember 20, 2025 9:49:02 AM (Day 20).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Jana Small IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Jana Small IPO FAQs
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