Image Source : PTI (FILE) IPO
The Initial Public Offering (IPO) of Jana Small Finance Bank is ready to open right now, with the financial institution aiming to utilise the funds from the contemporary situation to reinforce its core capital and meet future capital necessities. Ahead of the IPO, the financial institution has already allotted 40,32,588 fairness shares to 17 anchor traders, elevating Rs 166.95 crore on Tuesday.
Jana Small Finance Bank plans to boost funds by way of an IPO comprising a contemporary situation of fairness shares amounting to Rs 4,620.00 million (Rs 462 crore), adjusted for the pre-IPO placement and provide of sale by promoting shareholders. Additionally, there’s a reservation of as much as Rs 135.00 million for subscriptions by eligible workers.
The IPO features a major share sale of Rs 462 crore on the higher finish of the worth band, with the remaining Rs 108 crore as a suggestion on the market. The worth band is mounted at Rs 393 to Rs 414 per fairness share of face worth Rs 10 every.
Bidding for the IPO will start on Wednesday, February 7, 2024, and conclude on Friday, February 9, 2024. The Anchor Investor Bidding Date was February 6, 2024, throughout which the corporate raised Rs 166.95 crore.
Out of the entire allocation to Anchor Investors, 6 per cent was allotted to at least one home mutual fund by way of two schemes. Bids will be made for no less than 36 fairness shares and in multiples of 36 fairness shares thereafter.
Axis Capital Limited, ICICI Securities Limited, and SBI Capital Markets Limited are the book-running lead managers for the problem.
Source: www.indiatvnews.com
