Jana Small Finance Bank Limited shall open bids for its initial public offering of Equity Shares face value Rs 10 on Wednesday, February 7, 2024. The Anchor Investor Bidding Date shall be Tuesday, February 6, 2024. The Offer will open on Wednesday, February 7, 2024 for subscription and will close on Friday, February 9, 2024. The Price Band of the Offer has been fixed at Rs 393 to Rs 414 per Equity Share. Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter.
The Bank plans to raise funds through initial public offering comprising fresh issue of Equity Shares aggregating to Rs 4,620.00 million after adjusting for the Pre-IPO placement and Offer of Sale aggregating up to 2,608,629 Equity Shares by the selling shareholders. The Offer includes a reservation of up to Rs 135.00 million for subscription by eligible employees. The Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting Bank’s Tier – 1 capital base to meet Bank’s future capital requirements, to improve its Tier-I capital and CRAR. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer. The Equity Shares are to be listed on the Stock Exchanges being BSE Limited and National Stock Exchange of India Limited.
