The Bank had filed DRHP proposing to raise funds through offer of equity shares (face value of Rs. 10 each) comprising of fresh issue aggregating up to Rs. 575 crore (The “Fresh Issue”) and an Offer for Sale aggregating up to 4,051,516 equity shares by “Investor Sharing Shareholders” (The “Offer for Sale”).
The Net Proceeds are proposed to be utilised towards the augmentation of Bank’s Tier – 1 capital base to meet Bank’s future capital requirements such as organic growth and expansion and to comply with the regulatory requirements for enhanced capital base, as may be prescribed by the RBI from time to time.
According to the Fitch Report, Jana Small Finance Bank Limited is fourth largest Small Finance Bank in terms of AUM and the fourth largest Small Finance Bank in terms of deposit size as of March 31, 2023. As of March 31, 2023, the bank had 754 banking outlets, including 272 banking outlets in unbanked rural centres, in 22 states and two union territories. As of March 31, 2023, Jana Small Finance Bank has served nearly 1.2 crore customers since 2008, including 45.7 lakh active customers.
Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Issue.
