₹ 393 - ₹ 414
07-Feb-2024 - 09-Feb-2024
₹ 14904.00



07-Feb-2024 - 09-Feb-2024

₹ 393 - ₹ 414

Price Band

₹ 14904.00

Minimum Investment


Bid Lot


  • Face Value - ₹ 10/- Per Share

  • Listing at NSE BSE

  • 130,685 Application Required in Retail for 1 Time.

  • Registrar : KFin Technologies Limited

IPO Details

Fresh Issue of Equity Shares aggregating upto Rs.462 Cr and Offer for Sale of 2,608,629 Equity Shares.

Category % Shares/Amount
QIB 50% 6,720,680 Shares Rs.278.25 Cr
HNI 1 5% 672,099 Shares Rs.27.82 Cr @ 1334 Form 1X
HNI 2 10% 1,344,196 Shares Rs.55.65 Cr @ 2667 Form 1X
Retail 35% 4,704,688 Shares Rs.194.77 Cr @ 130686 Form 1X
Employee 0% 326,086 Shares Rs.13.50 Cr

BRLMs: Axis Capital, ICICI Securities, SBI Capital Markets

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
130686 Form 1X 1334 Form 1X 2667 Form 1X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 36 ₹ 14,904
Retail (Upto 2 Lakh) 13 468 ₹ 193,752
S-HNI (2 Lakh to 10 Lakh) 14 504 ₹ 208,656
S-HNI (2 Lakh to 10 Lakh) 67 2412 ₹ 998,568
B-HNI (Above 10 Lakh) 68 2448 ₹ 1,013,472

IPO Timeline

  • Open Date

  • Close Date

  • Basis of Allotment Date

  • Initiation of Refunds

  • Credit Shares to Demat A/c

  • IPO Listing Date


About Company

  • Jana Small Finance Bank (“Jana SFB”) was incorporated as ‘Janalakshmi Financial Services Private Limited’ on July 24, 2006, at Bengaluru, Karnataka as a private limited company. It started operating as a Small Finance Bank w.e.f. March 28, 2018. Jana SFB is the 4th largest Small Finance Bank in terms of AUM and the 4th largest Small Finance Bank in terms of deposit size as at September 30, 2023.

  • Jana SFB had 771 banking outlets, including 278 banking outlets in unbanked rural centres, in 22 states and 2 union territories as on September 30, 2023. It has served nearly 12 million customers since 2008, including 4.87 million active customers as at September 30, 2023.

  • The bank’s primary secured loan products are secured business loans, micro loans against property (“Micro LAP”), MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, 2-wheeler loans, and gold loans.

  • Jana SFB is also a corporate agent for third-party life insurance products, general (non-life) insurance products and health insurance products, including COVID-19 insurance products.

  • Jana SFB was amongst the Top-5 Small Finance Banks in term of share of Retail Deposits (comprising CASA and Retail Term Deposits) as a percentage of total deposits among all Small Finance Banks as at March 31, 2023.

  • Jana SFB has placed a strong emphasis on increasing their Retail Deposits, and with its low-cost, diversified Retail Deposit base, the bank has decreased its Cost of Funds from 8.61% as at March 31, 2021, to 7.02% as at March 31, 2023.

  • Jana SFB’s Shareholders include TPG, HarbourVest Group, Amansa Capital, Morgan Stanley and Hero Ventures. In June 2023, they raised ?449.94 crore through the issuance of Equity Shares to new and existing investors and ?112 crore through the issuance of Preference Shares.

Read More


Competitive Strength 

  • Digitalised bank with majority of the services available in digital form to customers; 

  • Integrated risk and governance framework;

  • Professional and experienced management and Board;

  • Customer-centric organization with more than 16 years’ experience in serving underbanked and underserved customers;

  • Pan-India presence with strong brand recognition;

  • Fast growing Retail Deposits base and diversified deposit franchise;

  • Proven execution ability

Business Strategies 

  • Focus on accelerating secured loans book with the purpose of meeting customers’ needs and diversifying the lending book;

  • Reshape the unsecured loans (Microfinance Loans) business;
  • Improve the risk profile;
  • Enhance the growth of Retail Deposits;
  • Alliances with third parties from banking to broking;
  • Deepen customer relationships;
  • Continued focus on digitized operations

Company Promoters

Subhash Chandra Khuntia is the Part-Time Chairman and an Independent Director of the Bank. Ajay Kanwal is the Managing Director and Chief Executive Officer of the Bank. Krishnan Subramaina Raman is the Executive Director and Chief Credit and Collection Officer of the Bank. Ramesh Ramanathan is the Non-Executive Non-Independent Director of the Bank. Rahul Khosla is the Non-Executive Non-Independent Nominee Director. Ramalingam Ramaseshan is the Non-Executive Independent Director of the Bank.

Company Financials

Jana Small Finance Bank Limited's revenue increased by 20.82% and profit after tax (PAT) rose by 1365.12% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 30 Sep 2023 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 28,105.87 25,643.69 20,188.71 19,078.66
Revenue 2,215.57 3,699.88 3,062.37 2,720.74
Profit After Tax 213.22 255.97 17.47 72.26
Net Worth 2,547.11 1,777.07 1,184.56 1,100.77
Reserves and Surplus 2,225.44 1,472.28 999.29 914.09
Total Borrowing 5,313.54 6,277.46 4,509.83 4,815.32
Amount in ? Crore

Objects of the Issue

The Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting the Bank's Tier - 1 capital base to meet the Bank's future capital requirements. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer. The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

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