Jana Small Finance Bank (MAINBOARD)
Feb 7, 2024 - Feb 9, 2024
| Price | ₹393 - ₹414 |
| Premium | ₹16 |
|---|---|
| Lot size | 36 |
| Allotment | Feb 12, 2024 |
| Listing | Feb 14, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 36 | 14904 | 130686 |
| sHNI | 14 | 504 | 208656 | 1334 |
| bHNI | 68 | 2448 | 1013472 | 2667 |
Last Updated as on 09-Feb-2024 17:57:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 2688392 | 107031060 | 39.81 |
| HNIs | 2016294 | 52691004 | 26.13 |
| HNIs (10+L) | 1344196 | 38618172 | 28.73 |
| HNIs (2-10L) | 672099 | 14072832 | 20.94 |
| Retail | 4704687 | 26803908 | 5.7 |
| Employees | 343511 | 670572 | 1.95 |
| Total | 9752884 | 187196544 | 19.19 |
| Total Application : 702,847 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹22.13 | @8% ₹25.29 | @9% ₹28.45 | @10% ₹31.61 | @11% ₹34.77 | @12% ₹37.93 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹11492 |
Established in July 2006, Jana Small Finance Bank Limited has positioned itself as a significant player in the financial sector, offering a wide range of services tailored to meet the diverse needs of individuals and businesses. Their offerings include MSME loans, affordable housing loans, and term loans to NBFC, loans against fixed deposits, two-wheeler loans, and gold loans.
Jana SFB prides itself on its diverse portfolio of unsecured loan products, catering to various segments such as individual and micro-business loans, agricultural and allied loans, and group loans. Their loan portfolio is strategically classified into three categories, addressing specific needs ranging from home improvement/repair to school fees, debt consolidation, family functions, incidental expenses, and business purposes.
Committed to delivering seamless banking experiences, Jana SFB provides cutting-edge digital products, services, and platforms, including mobile and internet banking for both retail and corporate clients. Over the period between March 31, 2021, and March 31, 2023, their gross secured advances witnessed remarkable growth from ₹50,760.00 million to ₹99,047.54 million, reflecting a robust compound annual growth rate (CAGR) of 39.69%.
As of March 31, 2023, Jana SFB operates through 754 banking outlets spread across 22 states and two union territories, with 272 outlets strategically located in unbanked rural centers. This widespread presence has significantly mitigated concentration risks.
Since inception, Jana SFB has served nearly 12 million customers, with 4.57 million active customers as of March 31, 2023. Over the past three fiscal years, they have consistently expanded their customer base, adding 0.91 million, 0.51 million, and 0.08 million new customers, respectively.
The backbone of Jana SFB's operations is its dedicated workforce, comprising 18,184 permanent employees as of March 31, 2023, committed to delivering excellence in every aspect of service delivery.
Jana Small Finance Bank IPO Details
| Issue Size | 13,768,049 shares (aggregating up to ₹570.00 Cr) |
| Fresh Issue | 11,159,420 shares (aggregating up to ₹462.00 Cr) |
| Offer for Sale | 2,608,629 shares of ₹10 (aggregating up to ₹108.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 93,430,855 |
| Share holding post issue | 104,590,275 |
Jana Small Finance Bank IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Jana Small Finance Bank IPO Lead Manager(s)
- Axis Capital Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
Key Performance Indicator
| KPI | March 31, 2023 | March 31, 2022 | March 31, 2021 |
|---|---|---|---|
| ROE (%) | 16.78% | 1.53% | 6.51% |
| Debt/Equity Ratio | 3.49 | 3.76 | 4.32 |
| RoNW (%) | 14.40% | 1.47% | 6.56% |
| Basic EPS (in ₹) | 47.47 | 3.44 | 14.25 |
| Diluted EPS (in ₹) | 42.64 | 3.21 | 13.46 |
| P/E | 15.11 |
| P/E POST IPO | 10.15 |
Company Financials
Jana Small Finance Bank Limited Financial Information (Restated)
Jana Small Finance Bank Limited's revenue increased by 20.82% and profit after tax (PAT) rose by 1365.12% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | 30 Sep 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 28,105.87 | 25,643.69 | 20,188.71 | 19,078.66 |
| Revenue | 2,215.57 | 3,699.88 | 3,062.37 | 2,720.74 |
| Profit | 213.22 | 255.97 | 17.47 | 72.26 |
| Net Worth | 2,547.11 | 1,777.07 | 1,184.56 | 1,100.77 |
| Reserves | 2,225.44 | 1,472.28 | 999.29 | 914.09 |
| Borrowing | 5,313.54 | 6,277.46 | 4,509.83 | 4,815.32 |
| Amount in ₹ Crore | ||||
Strength
1. Integrated risk and governance framework ensure effective risk management practices and compliance with regulatory requirements, enhancing stability and reliability.
2. The company operates as a digitalized bank, offering a majority of its services in digital form, providing convenience and accessibility to customers in today's digital age.
3. Professional and experienced management and board bring expertise and strategic direction to the organization, contributing to its overall success and growth.
4. With a customer-centric approach and over 16 years of experience, the company has a proven track record of serving underbanked and underserved customers, catering to their specific needs and requirements.
5. The company boasts a Pan-India presence with strong brand recognition, positioning it well in the market and enabling it to reach a wide customer base across the country.
1. The bank is bound by restrictions regarding Equity Shares as per RBI In-Principle Approval, RBI Final Approval, SFB Licensing Guidelines, and SFB Operating Guidelines, which may impact its ability to operate or expand as desired.
2. The company is subject to inspections by various regulatory authorities, including the RBI, PFRDA, IRDA, and National Pension System Trust. Non-compliance with regulatory observations could have adverse effects on business operations, financial condition, and cash flows.
Jana Small Finance Bank IPO Lead Manager(s)
- Axis Capital Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: jana.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/