Jana Small Finance Bank IPO Details
Issue Date
07 Feb - 9 Feb'24
Price Range
₹393 - ₹414
Lot Size
36
IPO Size
₹570.00 Cr
Jana Small Finance Bank IPO Listing Details
Listing On
14 Feb'24
Issue Price
₹414
Listed Price
₹ 396
Retail Gain/Listing Gain
▼-4.35%
Schedule of Jana Small Finance Bank IPO
Start date
07/02/2024
End date
09/02/2024
Allotment of bids
Refund Initiation
13/02/2024
Listing on exchange
14/02/2024
Company Background
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 September 30, 2023. (Source: Fitch Report).
The company was registered as a non-banking finance company (NBFC) in 2008 and was awarded a non-banking finance company-microfinance institution (NBFC-MFI) status in 2013. The company started operating as a small finance bank in 2018, and became a scheduled commercial bank in 2019.
With that, let's take a look at the competitive strengths and risk factors for Jana Small Finance Bank Limited:
Competitive Strengths
Digitalised bank with majority services available in digital form to customers
The company’s core banking is supported by integrated multi-channel operations. It leverages technology to identify opportunities and deliver products and services to target customers. Its new products are designed with application programming interface (API) technology to increase operating efficiencies, deliver better quality services, and allow for integration with the larger ecosystem leveraging the API framework.
Pan-India presence with strong brand recognition
As of September 30, 2023, the company had 771 banking outlets, including 278 banking outlets in unbanked rural centres, in 22 states and two union territories. Its pan-India presence has enabled it to reduce its concentration risk.
Fast-growing retail deposit base and diversified deposit franchise
The company was among the top four small finance banks in India in terms of deposit size as of September 30, 2023 (Source: Fitch Report). Its deposits 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%, and further increased to ₹189,367.24 million as of September 30, 2023, an increase of 15.93%.
Jana Small Finance Bank IPO Review | BFSI Industry | IPO issue details and more
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Risk Factors
- The company is subject to inspections by various regulatory authorities, such as the RBI, PFRDA, IRDA and National Pension System Trust. Any non-compliance will adversely affect business operations.
- The RBI may take regulatory action against the company for non-compliance, which could include monetary penalties.
- The company may be unable to maintain or renew its statutory and regulatory permits, licences and approvals required to operate the business.
Key Strategies
- Focus on accelerating the secured loans book to meet customers’ needs and diversify the lending book.
- Reshape its unsecured loans business (microfinance loans).
- Improve its risk profile.
Jana Small Finance Bank Ltd Key Financials
Here are the key financials for Jana Small Finance Bank Limited:
How to apply for IPO through ASBA
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How To Apply for Jana Small Finance Bank Ltd IPO?
Here are the steps to apply for Jana Small Finance Bank Ltd IPO:
Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Jana Small Finance Bank IPO FAQs
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