Punjab News Network

Today is the last day to check the subscription status and GMP for Jana Small Finance Bank’s IPO

<p><strong>Initial Public Offering (IPO) of Jana Small Finance Bank:</strong> 3.20 times as many subscriptions have been received for the bank’s IPO, which is scheduled to conclude on Friday, February 9. On Friday, the last day of bidding, at 11:43 am, the Rs 570-crore initial public offering (IPO) sold 3,00,98,016 shares, against the 94,09,373 shares that were offered.</p>
<p><img decoding=”async” class=”alignnone wp-image-393325″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-today-is-the-last-day-to-check-the-subscription-status-and-gmp-for-jana-small-fina.jpg” alt=”theindiaprint.com today is the last day to check the subscription status and gmp for jana small fina” width=”1001″ height=”667″ title=”Today is the last day to check the subscription status and GMP for Jana Small Finance Bank's IPO 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-today-is-the-last-day-to-check-the-subscription-status-and-gmp-for-jana-small-fina.jpg 510w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-today-is-the-last-day-to-check-the-subscription-status-and-gmp-for-jana-small-fina-150×100.jpg 150w” sizes=”(max-width: 1001px) 100vw, 1001px” /></p>
<p>Bids under the non-institutional investor category were received 6.69 times for private equity firm TPG and the Morgan Stanley-backed IPO; bids under the retail individual investor (RII) category were subscribed 3.33 times. Twenty percent of the subscription was allocated to the Qualified Institutional Buyers (QIBs) segment.</p>
<p><strong>GMP Today’s Jana Small Finance Bank IPO</strong></p>
<p>Market watchers report that unlisted shares of Jana Small Finance Bank are selling on the gray market for Rs 59 more than the upper issue price. The grey market is anticipating a 14.25 percent listing gain from the public offering, as shown by the Rs 59 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.</p>
<p>The willingness of investors to pay above the issue price is shown by the “grey market premium.”</p>
<p><strong>Details of the Jana Small Finance Bank IPO</strong></p>
<p>In its first public offering, the Bengaluru-based company is offering up to Rs 462 crore in new issues as well as up to 2,608,629 equity shares for sale.</p>
<p>The pricing range for the IPO is Rs 393–414 per share. Anchor investors gave Jana Small Finance Bank Rs 167 crore on Tuesday.</p>
<p>Following the offering, the promoter, Jana Holdings, which now owns 32% of the bank, will cut its ownership to around 25%. The funds from the new offer will be used by the bank to increase its core capital, which will help it satisfy future capital needs and raise its capital adequacy ratio.</p>
<p>The offer’s managers are Axis Capital, ICICI Securities, and SBI Capital Markets.</p>