Jana Small Finance Bank IPO Day 1: Issue subscription rate so far is 34%. The retail portion accounted for 59%. GMP, check key details

Jana Small Finance Bank IPO: Jana Small Finance Bank's initial public offering (IPO) opened for bidding today, January 7, and will close on Friday, February 9.

Jana Small Finance Bank's IPO will be a book-worthy issue. INRThe first day has so far received a decent response from retail investors.

Let's check Jana Small Finance Bank IPO GMP, subscription status and other important details.

Jana Small Finance Bank IPO Application Status

As per data available on NSE till 12:25 pm, Jana Small Finance Bank's IPO received total bids of 3.466 million shares against 1.01 billion shares on offer so far on the first day. The application rate is 34%.

So far, the public issue has been subscribed 0.59 times in the retail category and 0.25 times in the non-institutional investor (NII) category. Qualified Institutional Buyers (QIBs) have yet to bid on the IPO.

Jana Small Finance Bank IPO Today GMP

Jana Small Finance Bank's IPO GMP today or today's Gray Market Premium is INR66 shares per share, according to market sources. This shows that Jana Small Finance Bank stock is trading 15.94% higher than his IPO price at the time. INR480 on today's gray market.

Also read: Jana Small Finance Bank's IPO launches today. Please check GMP. Do I need to subscribe?

Jana Small Finance Bank IPO Review

Jana Small Finance Bank is the fourth largest small finance bank in terms of assets under management (AUM) and deposit size as of September 30, 2023.

The company is a digital bank, with an integrated risk and governance framework and a customer-centric organization, meaning that most of its services are available to customers in digital format, making it possible for customers with bank accounts and sufficient With over 16 years of experience serving underserved customers and a pan-India presence with strong brand recognition. said brokerage firm Anand Rati.

“At the upper end of the price band, the company's market capitalization is valued at a P/BV of 1.50x. INRAfter the issuance of shares, it will be worth $43.3 billion, with a return on net assets of 14.40%. We believe the IPO is fairly priced and therefore recommend a 'subscribe' rating for the IPO,” Anand Rati said in a report.

Jana Small Finance Bank IPO Details

Jana Small Finance Bank's IPO will open for public offering on January 7th and close on January 9th. INRThe issuance amount worth 570 million yen consists of a total of 1.12 billion new shares. INR462 million shares and total offering of 26.08 million shares (OFS) INR180 million.

IPO price range is fixed INRFrom 393 INR414 per share. Jana SFB IPO lot size is 36 shares and the minimum investment amount required for individual investors is INR14,904.

Ahead of IPO launch, Jana Small Finance Bank raised funds INRAllotted 40,32,588 shares to 17 anchor investors on January 6th, acquiring 166.95 million shares.

Jana Small Finance Bank's IPO allotment date is most likely to be February 12 and the company may start disbursing refunds and depositing shares in investors' demat accounts on February 13.

Jana Small Finance Bank's shares are likely to be listed on both BSE and NSE on February 14.

Axis Capital, ICICI Securities and SBI Capital Markets are the lead managers for the Jana SFB IPO and Kfin Technologies is the IPO registrar.

Read all IPO news here

Disclaimer: The views and recommendations above are those of individual analysts or brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.