February 14, 2024
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JANA SMALL FINANCE BANK IPO GMP, Details to watch, Guidance & Subscription Status @ Chanakyanipothi.com
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Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
JANA SMALL FINANCE BANK IPO Listing Review
The scrip on 14th February, is listed at Rs. 396, compared to the Issue-price of Rs. 414, The listing is at a discount of 4.35%. The listing has been disappointment to the investors as well as grey market players. Even Investors with solid names could not bring positive listing.
JANA SMALL FINANCE BANK Anchor Investors
Subscription to Anchor portion will open on 6th February 2024. Will provide detailed list very soon.
What is the last GMP of JANA SMALL FINANCE BANK IPO?
Premium: Rs. 16
Small Subject to 400
Big Subject to Rs. 5600
What is the Subscription Status of JANA SMALL FINANCE BANK IPO?
On 9 February 2024 2.00 pm (Day 3) (Closed)
Review: Not so impressive subscription
QIB: 2762350 Shares 38.75 T
NII(10L+): 1402084 Shares 27.54 T
NII (<10L) 701043 Shares 20.07 T
NII (Total) 2103127 Shares 25.05 T
RII: 4907296 Shares 5.46 T
Emp: 343511 Shares 1.95 T
Total: 10116284 Shares 18.50 T
Who are the promoters of JANA SMALL FINANCE BANK IPO?
JANA CAPITAL LIMITED AND JANA HOLDINGS LIMITED are the promoters of the Bank.
What is the business of JANA SMALL FINANCE BANK ?
JANA SMALL FINANCE BANK is the fourth largest Small Finance Bank in terms of AUM and the fourth largest Small Finance Bank in terms of deposit size as at March 31, 2023. As of March 31, 2023, it had 754 banking outlets, including 272 banking outlets in unbanked rural centers, in 22 states and two union territories. It has served nearly 12 million customers since 2008, including 4.57 million active customers as of March 31, 2023.
It was incorporated on July 24, 2006, registered as a non-banking finance company (“NBFC”) on March 4, 2008, and it was awarded non-banking finance company-microfinance institution (“NBFC-MFI”) status on September 5, 2013. It started operating as a Small Finance Bank with effect from March 28, 2018, and became a Scheduled Commercial Bank on July 16, 2019.
it has gained a deep understanding of the financial needs of underbanked and underserved customers over the past 16 years.
Its primary secured loan products are secured business loans, micro loans against property (“Micro LAP”), MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans and gold loans. Its primary unsecured loan products are individual and micro business loans, agricultural and allied loans, and group loans. It gross advances has increased from Rs. 118,389.82 million as of March 31, 2021, to Rs.180,007.41 million as of March 31, 2023, representing a CAGR of 23.31%.
Its deposits have increased from Rs.123,162.58 million as of March 31, 2021, to Rs.163,340.16 million.
as of March 31, 2023, representing a CAGR of 15.16%. it was among the top four Small Finance Banks in India in terms of deposit size as at March 31, 2023.
The bank is also a corporate agent for third-party life insurance products, general (non-life) insurance products and health insurance products, including COVID-19 insurance products. It also offers Point of Sales (“POS”) terminals and payment gateway services through our merchant acquiring partners.
In addition to delivering its products and services through banking outlets and ATMs, it delivers its products and services through business correspondents, ATM cum debit cards, mobile banking platforms, internet banking portals and SMS alerts.
For more information, click www.janabank.com
What is the Object of JANA SMALL FINANCE BANK IPO?
The Offer comprises of the Fresh Issue and the Offer for Sale.
The Net Proceeds are proposed to be utilised towards augmentation of the Bank’s Tier – 1 capital base to meet the Bank’s future capital requirements such as organic growth and expansion and to comply with the regulatory requirements for enhanced capital base, as may be prescribed by the RBI from time to time.
JANA SMALL FINANCE BANK IPO GMP, Particulars & Guidance
| JANA SMALL FINANCE BANK IPO Details | |
| IPO opens on | 7 February 2024 |
| IPO closes on | 9 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 13768049 Sh /Rs 570 Cr |
| * Fresh Issue | 11159420 Sh /Rs 462 Cr |
| * Offer for Sale | 2608629 Sh /Rs 108 Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 393-414 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 36 Shares |
| Listing will at | BSE, NSE |
| Shares offered in JANA SMALL FINANCE BANK ? | Shares | Rs. in Cr |
| QIB (50 %) | 6720981 | 278.25 |
| NII (15 %) | 2016294 | 83.47 |
| RII (35 %) | 4704687 | 194.78 |
| Employees | 326087 | 13.50 |
| Total Shares | 13768049 | 570.00 |
| Retail portion will be oversubscribed by | 130686 Forms. | |
| How to apply in JANA SMALL FINANCE BANK IPO? | Amount Rs. | |
| Min Retail Application | 36 Sh | 14904 |
| Max Retail Application | 468 Sh | 193752 |
| Small HNI (Min) application | 504 Sh | 208656 |
| Small HNI (Max) application | 2412 Sh | 998568 |
| Big HNI Application | 2448 Sh | 1013472 |
| What is the timetable of JANA SMALL FINANCE BANK IPO? | |
| IPO opens on | 7 February 2024 |
| IPO Closes on | 9 February 2024 |
| IPO Allotment on | 12 February 2024 |
| Unblocking of ASBA | 13 February 2024 |
| Credit of Shares | 13 February 2024 |
| Listing on | 14 February 2024 |
| Registered Office of JANA SMALL FINANCE BANK | |
| The Fairway Business Park, #10/1, 11/2, 12/2B, off Domlur, Koramangala Inner Ring Road, Next to EGL, Challaghatta, Bengaluru 560 071, Karnataka, India |
|
| Who are the Lead Managers of JANA SMALL FINANCE BANK IPO? Axis Capital Limited ICICI Securities Limited SBI Capital Markets Limited |
|
| Registrar to IPO | |
| KFin Technologies Limited |
| JANA SMALL FINANCE BANK IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 2720.74 | 72.26 | 14.25 | 6.56 |
| 2021-22 | 3044.89 | 17.47 | 3.44 | 1.47 |
| 2022-23 | 3443.90 | 255.97 | 47.47 | 14.40 |
| Book Value of the Share on 31.03.2023 | Rs. | 323.23 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 414 | ||
| JANA SMALL FINANCE BANK IPO Ratio Analysis |
|
| Price /EPS | 8.72 |
| Price/Book Value Ratio | 1.28 |
| Price/BV after IPO | ? |
How JANA SMALL FINANCE BANK IPO compares with the Peers?
Peer Comparison.
| As on date of RHP | Total Income | Face | PE |
| Value | Ratio of | ||
| Rs. In Cr | Rs | ||
| Jana Small Finance B | 3700 | 10 | 8.72 |
| AU Small Finance Bank | 9240 | 10 | 31.55 |
| Suryodaya SFB | 1281 | 10 | 23.97 |
| Credit Access Grameen | 3551 | 10 | 21.84 |
| Spandana Spooty | 1477 | 10 | 16.43 |
| Bandhan Bank | 18373 | 10 | 17.35 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
JANA SMALL FINANCE BANK IPO Guidance
India with its vast population of self-employed people is one of the largest markets for small finance banks. JANA SMALL FINANCE BANK is the fourth largest Small Finance Bank in terms of AUM and the fourth largest Small Finance Bank in terms of deposit size as of March 31, 2023. As of March 31, 2023, it had 754 banking outlets, including 272 banking outlets in unbanked rural centers, in 22 states and two union territories. It has served nearly 12 million customers since 2008, including 4.57 million active customers as of March 31, 2023.
The bank is also a corporate agent for third-party life insurance products, general (non-life) insurance products and health insurance products.
Lets check how the bank compared with its peers. IPO size of Rs. 570 Cr. not very large. The shares are offered at very very reasonable valuation and leaves room for strong listing gains as well as long term returns to its investors. Must Apply IPO.
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