Jana Small Finance Bank IPO: Lender files papers with SEBI for ₹575-crore issue
- Jana SFB IPO: Jana Small Finance Bank has filed its DRHP with market regulator SEBI for the second time. Jana Small finance IPO consists of a fresh issue of up to ₹575 crore and OFS of up to 4,051,516 equity shares.
Jana Small Finance Bank Ltd (Jana SFB) has filed its Draft Red Herring Prospectus (DRHP) with capital market regulator, Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
Jana Small Finance IPO comprises of a fresh issue of up to ₹575 crore and an offer for sale of up to 4,051,516 equity shares by investor sharing shareholders.
A total of 4,051,516 equity shares are up for OFS for Jana Small finance IPO, with 1,757,755 of those coming from Client Rosehill Ltd, 929,656 from CVCIGP II Employee Rosehill Limited, and 141,285 from Global Impact Funds, S.C.A., SICAR, Sub-Fund Global Financial Inclusion Fund. Growth Partnership II Ajay Tandon Co-Investment Trust, Growth Partnership II Siva Shankar Co-Investment Trust, and Hero Enterprise Partner Ventures will offer shares up to 825 equity shares, 1,995 equity shares, and 1,220,000 equity shares, respectively.
Jana Small finance IPO net proceeds are proposed to be used to increase the Bank's Tier 1 capital base in order to meet the Bank's future capital needs, including those resulting from organic growth and expansion, as well as to satisfy any regulatory requirements for an enhanced capital base that the RBI may from time to time impose.
A person in the know told Mint earlier in June that the Bengaluru-based Jana Small Finance Bank would resubmit its DRHP after an earlier effort to file an IPO was postponed due to Covid.
The book-running lead managers (BRLM) for the Jana Small finance IPO offer are Axis Capital Ltd, ICICI Securities Ltd and SBI Capital Markets Ltd, while KFin Technologies Ltd is the registrar.
As of March 31, 2023, Jana Small Finance Bank Ltd ranked fourth among Small Finance Banks in terms of AUM and fourth in terms of deposit size, according to Fitch Report. The bank had 754 locations as of March 31, 2023, including 272 in rural areas that were unbanked. These locations were spread over 22 states and two union territories.
Since 2008, Jana Small Finance Bank has provided services to almost 12 million clients, including 4.57 million live clients as of March 31st, 2023.
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