Jana Small Finance Bank IPO

With its establishment as Janalakshmi Financial Services (JFS) in 2008, the Bangalore-headquartered Jan Small Finance Bank currently comes under the purview of the banking license of the Reserve Bank of India (RBI). With the legacy of Janalakshmi, it is recognized globally as one of the largest Micro Finance Institutions (MFIs). Jana Small Finance Bank IPO will hit the market in 2021.

Issue

The proposed IPO will include a fresh issue of Rs 700 crore and a OFS of 92,53,659 shares. The OFS will be sold by Alpha TC Holdings Pte for 17,48,975 shares, 1,15,195 shares by Badri Narayan Pilinja and 1,26,482 shares by Bajaj Allianz General Insurance (Policyholder Fund) and Bajaj Allianz General Insurance (Shareholder Fund) will also sell 54,207 shares.

 

About

Jan Small Finance Bank has a long and distinguished history, which stands as a testament to who they are today. For over a decade, they have actively listened to and responded to the needs of their customers. They work hard every day to deliver value through their competitive and thoughtful financial services, thus helping their customers live better lives.

Footprints

They have 611 branches, with approximately 3.05 million active clients. The lender was also featured in ‘Fortune – The Top 500’ largest corporations in the country. It was also recently awarded India’s Distinctive Goodwill Brand for 2017.

It is one of the globe’s innovative financial institutions working on the problem of financial inclusion, the objective of Jan Bank To remain service oriented, fully compliant and committed for good governance and practices.

Promoters

• JANA CAPITAL LIMITED
• JANA HOLDINGS LIMITED

Financials Trends

Particulars	For the year/period ended ( in Cr.)
	30-Sep-20	31-Mar-20	31-Mar-19	31-Mar-18
Total Assets	15,350.00	14,147.12	9,446.29	9,748.79
Total Revenue	1,334.52	2,424.77	1,368.27	1,597.05
Profit After Tax	82.44	30.13	(1,949.07)	(2,503.80)

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

IPO Details

IPO Opening Date	2021
IPO Closing Date	2021
Issue Type	Book Built
Face Value	10 per  share
IPO Price	0 to 0 per equity share
Market Lot	0
Min Order Quantity	0
Listing At	BSE, NSE
Issue Size	2000 cr.
Fresh Issue	700 cr.
Offer for Sale	1300 cr.

IPO Tentative Date

Jana Small Finance Bank IPO open date is 2021, and the close date is 2021. The issue may list in 2021.

IPO Open Date	2021
IPO Close Date	2021
Basis of Allotment Date	2021
Initiation of Refunds	2021
Credit of Shares to Demat Account	2021
IPO Listing Date	2021

Basis of Allotment

Type	% of Offer	Basis of Allotment
Qualified Institutional Buyer	75	Roughly  equivalent
Non Institutional Investor	15	Roughly  equivalent
Retail	10	Minimum level of 1 lot, based on availability, for every shareholder.

Promoter Holding

Pre Issue Share Holding	42.08%
Post Issue Share Holding