Jana Small Finance Bank lists at a discount of 4.3% at Rs 396 on bourses on February 14. The company set the price band for the issue at Rs 393 to 414 at a face value of Rs 10 per equity share. The company raised Rs 570 crore by offering 13.8 million shares.
The IPO of the company was opened to retail investors on February 07 and was closed on February 09. In the grey market, the shares of the company were fetching a premium of Rs 16 or 3.8% on the upper band of the issue. The grey market is an unofficial market where shares are traded illegally before listing.
Jana has raised Rs 166.95 crore from the anchor investors by offering 4 million shares.
The bank is a non-banking finance company providing MSME loans, affordable housing loans, loans against fixed deposits, two-wheeler loans, gold loans, and term loans to NBFC to both retail as well as corporate customers.
The bank provides mobile and internet banking to retail as well as corporate customers. The SFB has its presence with 754 banking outlets in 22 states and two union territories.
Axis Capital, ICICI Securities, and SBI Capital Markets are the book-running lead managers for the issue, while Kfin Technologies registrar.
