Jana Small Finance Bank Limited is a non-banking finance company primarily engaged in providing MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans and gold loans.
Jana SFB offers various unsecured loan products, including individual and micro business loans, agricultural and allied loans, and group loans.
As of September 30, 2023, Jana SFB had 771 banking outlets, including 278 banking outlets in unbanked rural centres, in 22 states and two union territories. The bank has provided services to almost 12 million customers since 2008, including 4.87 million active customers as at September 30, 2023.
The bank classifies loans into three categories:
- Individual loans for home improvement/repair,
- Individual loans for school fees, and
- Individual personal loans for debt consolidation, family functions, incidental expenses, and business purposes.
The company provides digital products, services, and platforms, such as mobile and internet banking for both retail and corporate clients. Between March 31, 2021 and March 31, 2023, the bank’s gross secured advances increased from ₹50,760.00 million to ₹99,047.54 million, representing a compound annual growth rate (CAGR) of 39.69%.
As of March 31, 2023, Jana SFB had a total of 18,184 permanent employees.
Jana Small Finance Bank IPO – Details
| IPO Opening Date | 07 February 2024 |
| IPO Closing Date | 09 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,37,68,049 Shares Worth ₹570.00 Crore Fresh Issue: 1,11,59,420 Shares Worth ₹462 Crore Offer For Sale: 26,08,629 Shares Worth ₹108.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹393 – ₹414 |
| Market Lot | 36 Shares |
| Min Order | 36 Shares ( 1 Lot ) |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Jana Small Finance Bank IPO – Date Schedule
| IPO Open Date | 07 February 2024 |
| IPO Close Date | 09 February 2024 |
| Basis of Allotment Date | 12 February 2024 |
| Initiation of Refund | 13 February 2024 |
| Credit of Shares to Demat Account | 13 February 2024 |
| IPO Listing Date | 14 February 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 09 February 2024 |
Jana Small Finance Bank IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | ₹14,904 |
| Retail (Max) | 13 | 468 | ₹1,93,752 |
| S-HNI (Min) | 14 | 504 | ₹2,08,656 |
| S-HNI (Max) | 67 | 2,412 | ₹9,98,568 |
| B-HNI (Min) | 68 | 2,448 | ₹10,13,472 |
Competitive Strengths
- Digitalised bank and majority services are available in digital form to customers.
- Integrated risk and governance framework.
- Professional and experienced management and Board.
- Customer-centric organization with more than 16 years’ experience in serving underbanked and underserved customers.
- Pan-India presence with strong brand recognition.
- Fast growing Retail Deposits base and diversified deposit franchise.
- Proven execution ability.
Company Promoters
- Jana Capital Limited
- Jana Holdings Limited
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 2720.74 | 2648.48 | 72.26 | 4,815.32 |
| 31 March 2022 | 3062.36 | 3044.89 | 17.47 | 4,509.83 |
| 31 March 2023 | 3699.87 | 3443.90 | 255.97 | 6,277.46 |
| 30 September 2023 | 2215.56 | 2002.35 | 213.21 | 5,313.54 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 16.78% |
| Debt/Equity | 3.49 |
| RoNW | 14.40% |
| P/BV | 1.28 |
Object Of The Issue
- The Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting the Bank’s Tier – 1 capital base to meet the Bank’s future capital requirements. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer. The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.
Jana Small Finance Bank IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | AU Small Finance Bank Limited | 35.47 |
| 2 | 10 | Suryoday Small Finance Bank Limited | 24.21 |
| 3 | 10 | Credit Access Grameen Limited | 32.66 |
| 4 | 10 | Spandana Sphoorty Financial Limited | 665.52 |
| 5 | 10 | Bandhan Bank Limited | 16.87 |
| 6 | 10 | Ujjivan Small Finance Bank Limited | 10.15 |
| 7 | 10 | Equitas Small Finance Bank Limited | 24.21 |
| 8 | 10 | Fusion Micro Finance Limited | 14.68 |
| 9 | 10 | Utkarsh Small Finance Bank Limited | 13.51 |
Jana Small Finance Bank IPO Promoter Holding
| Pre Issue Share Holding | 25.23% |
| Post Issue Share Holding | 22.54% |
Jana Small Finance Bank IPO Prospectus
Company Contact Information
| Jana Small Finance Bank Limited The Fairway Business Park, #10/1, 11/2, 12/2B, off Domlur, Koramangala Inner Ring Road, Next to EGL, Challaghatta, Bengaluru 560 071 Phone: +91 80 4602 0100 Email: investor.grievance@janabank.com Website: https://www.janabank.com/ |
Jana Small Finance Bank IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: jana.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Jana Small Finance Bank IPO Lead Manager(s)
| 1. Axis Capital Limited 2. ICICI Securities Limited 3. SBI Capital Markets Limited |
Jana Small Finance Bank IPO FAQs
| What is Jana Small Finance Bank IPO? Jana Small Finance Bank IPO is a main-board IPO. The issue is priced at ₹393 to ₹414 per equity share. The IPO is to be listed on BSE & NSE. |
| When Jana Small Finance Bank IPO will open? The IPO is to open on 07 February 2024 for QIB, NII, and Retail Investors. |
| What is Jana Small Finance Bank IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Jana Small Finance Bank IPO? You can apply Jana Small Finance Bank IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Jana Small Finance Bank IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Jana Small Finance Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Jana Small Finance Bank IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Jana Small Finance Bank“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Jana Small Finance Bank IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Jana Small Finance Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Jana Small Finance Bank IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Jana Small Finance Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Jana Small Finance Bank IPO Size? Jana Small Finance Bank IPO size is ₹570.00 Crore. |
| What is Jana Small Finance Bank IPO Price Band? Jana Small Finance Bank IPO Price Band is ₹393 to ₹414. |
| What is Jana Small Finance Bank IPO Minimum and Maximum Lot Size? The minimum bid is 36 Shares with ₹14,904 amount while the maximum bid is 468 Shares with ₹1,93,752. |
| What is the Jana Small Finance Bank IPO Allotment Date? Jana Small Finance Bank IPO allotment date is 12 February 2024. |
| What is the Jana Small Finance Bank IPO Listing Date? Jana Small Finance Bank IPO listing date is 14 February 2024. The IPO is to list on BSE and NSE. |
