- The stock listed at ₹396 ahead of its issue price of Rs 414 per share.
- Its market capitalisation is at ₹4,09,366.34 lakhs, according to
National Stock Exchange .
The ₹570 crore issue was subscribed almost 20 times the shares on offer. It has mobilised Rs 166.95 crore from investors like
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The issue is a combination of fresh issue and an offer for sale. It intends to use as much as ₹462 crore raised from net proceeds to augment its tier-1 capital base.
The small finance bank was incorporated in July 2006, and was awarded NBFC-MFI status in 2013. They started operating as a Small Finance Bank from 2018, and became a Scheduled Commercial Bank in 2019. As at September 30, 2023, they had 771 banking outlets, including 278 banking outlets in unbanked rural centers, in 22 states and two union territories.
Their business model is centered on building a ‘one-stop shop’ to cater to their customers’ different financial needs. They expanded their asset products, and launched gold loans, MSME loans with revised credit and collateral conditions in FY18, affordable housing loans, secured business loans, and loans against fixed deposits in FY19, and two-wheeler loans in FY21.
The digitalised bank offers its customers a number of digital products, services, and platforms, including mobile banking and internet banking.
“Jana Small Finance Bank is a digitalized bank and majority services are available in digital form to customers with integrated risk and governance framework and customer-centric organisation with more than 16 years’ experience in serving under banked and underserved customers along with pan-India presence with strong brand recognition,” said a report by