Jana Small Finance Bank Limited
Promoters JANA CAPITAL LIMITED · JANA HOLDINGS LIMITED
Against an issue price of ₹414. Split- and bonus-adjusted official closes — a past move, never a forecast.
Jana Small Finance Bank Limited raised ₹575 crore through a mainboard initial public offer.
The filing places it in Banks and names two promoters: JANA CAPITAL LIMITED and JANA HOLDINGS LIMITED.
The book was open from 7 February 2024 to 9 February 2024.
The issue was priced at ₹414 a share, from a band of ₹393 to ₹414.
Of the offer, ₹462 crore is a fresh issue of shares — money that goes to the company — and ₹108 crore is an offer for sale, which goes to existing shareholders selling down. Valued at the final issue price.
The issuer reported the offer subscribed 19.0 times the shares on offer. That is its own final figure, filed with the exchange after the book closed — not a reading we took while bidding was open.
The shares listed on 14 February 2024.
The last official close on file is ₹489 (30 September 2026), which is 18.2% above the issue price.
It now trades as JSFB, and its filed financials are on its company page.
Shares sold in the issue at ₹414 last closed at ₹489.3.
See JSFB’s filed financials and price history →Official exchange closes, restated for splits, bonuses and rights issues since listing. A record of past price movement, not a forecast.
Share counts converted at ₹414, the final issue price.
- How it was priced
- Book-built — the price was discovered inside a band from the bids received
- Listing sought at
- BSE And NSE
- Designated exchange
- BSE
- Discount
- None offered
- Registered office
- Southern India
- Company website
- https://www.janabank.com/
- Registrar
- Other RTA
- Lead managers
- Axis Capital Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
- Bidding opens7 Feb 2024
- Bidding closes9 Feb 2024
- Basis of allotmentnot published
Not published in the exchange feeds we ingest — we do not estimate it.
- Listing14 Feb 2024
This is the issuer’s own final figure, filed with the exchange once bidding had closed — not a reading we took while the book was open. The exchange publishes only a running cumulative figure and no history, so for an issue nobody polled live this filing is the only account of the book that exists. It covers the whole offer and carries no breakdown by category and no timestamp.
- Anchor investors29.3%40,32,588 sh
- Qualified institutional buyers19.7%27,09,001 sh
- Non-institutional investors14.7%20,22,478 sh
- Retail individual investors34.3%47,19,114 sh
- Reserved portion2.1%2,84,868 sh
No part of the offer was set aside for market maker or other.
The portion of the offer set aside for each category before bidding opened, as the issuer filed it. The anchor allocation is filed as its own line rather than inside the institutional one, so these add up to the whole offer. Shares as filed; the percentages are computed against the offer's own share count.
We did not poll this issue while its book was open. The exchange publishes only the current cumulative figure and no history, so a subscription series cannot be reconstructed after an issue closes.
We have not extracted an anchor allotment list for this issue.
- All other pre-issue capitalSEBI ICDR 2018 Reg. 17 — all other pre-issue capital, 6 months from allotment14 Aug 2024already free
- Promoters' minimum contributionSEBI ICDR 2018 Reg. 16(1)(a) — promoters' minimum contribution, 18 months from allotment14 Aug 2025already free
Computed from the SEBI ICDR 2018 lock-in rules, not disclosed by the issuer or the exchange. The regulation counts from the date of allotment, which no feed we ingest publishes, so these are counted from the listing date and fall at most two to three business days later than the true expiry.
Every offer document must set out the reasoning behind its own price: what the company earned in the years before it came to market, and what multiple of those earnings it is asking for. This is that chapter — the issuer’s argument for its price, not our assessment of it.
| Year | Basic | Diluted | Weight |
|---|---|---|---|
| FY2021 | ₹14.25 | ₹13.46 | 1 |
| FY2022 | ₹3.44 | ₹3.21 | 2 |
| FY2023 | ₹47.47 | ₹42.64 | 3 |
Figures as printed in the offer document's "Basis for Offer Price" chapter. A record of the case the issuer made for its own price, not our valuation of it.
Everything we extracted from this issue's offer document is the pricing justification rather than the restated statements — it is shown under how the offer was priced. The restated financial statements themselves have not been extracted for this issue.
We have not extracted this section from the offer document for this issue yet. It is read from the abridged prospectus, and several offer documents are served as .zip archives or as scanned pages with no text layer.
The offer document must name the listed companies the issuer considers comparable, and print their valuation figures beside its own. This is that list — the issuer’s choice of comparison, not ours.
| Company | P/E | P/B | RoNW | EPS | Income |
|---|---|---|---|---|---|
| AU Small Finance Bank Limited | 35.5 | 4.7 | 13.0% | 21.86 | ₹92,399 cr |
| Bandhan Bank Limited | 16.9 | 1.9 | 11.2% | 13.62 | ₹1,83,733 cr |
| CREDITACCESS GRAMEEN LIMITED | 32.7 | 5.2 | 16.2% | 52.04 | ₹35,508 cr |
| Equitas Small Finance Bank Limited | 24.2 | 2.5 | 11.2% | 4.71 | ₹48,315 cr |
| Fusion Micro Finance Limitednot in our universe | 14.7 | 2.8 | 16.7% | 43.29 | ₹18,000 cr |
| Spandana Sphoorty Financial Limited | 665.5 | 2.7 | 0.4% | 1.74 | ₹14,770 cr |
| Suryoday Small Finance Bank Limited | 24.2 | 1.2 | 4.9% | 7.32 | ₹12,811 cr |
| Ujjivan Small Finance Bank Limited | 10.2 | 2.8 | 26.5% | 5.88 | ₹47,542 cr |
| Utkarsh Small Finance Bank Limited | 13.5 | 2.7 | 20.2% | 4.52 | ₹28,043 cr |
The issuer's own figures as printed at the head of the same table — its claim about itself, on the same basis as its claims about the companies below.
Figures as PRINTED by the issuer in its own offer document. The comparison set is the issuer's choice, not ours.
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Axis Capital Limited 2021 – 2026 | 86 18 measurable | +11.7% | 5 of 15 | 1 of 5 | 2 of 8 |
ICICI Securities Limited 2021 – 2026 | 87 13 measurable | +16.6% | 5 of 11 | 2 of 5 | 1 of 6 |
SBI Capital Markets Limited 2022 – 2026 | 46 7 measurable | +4.5% | 4 of 6 | 0 of 1 | 0 of 2 |
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Other RTA 2023 – 2026 | 45 0 measurable | — | — | 0 of 1 | 1 of 4 |
A count of what happened to the other issues each firm was named on, computed from exchange closes. Not a rating, not a ranking, and not a view on the firm.
- Prospectus· PDF · exchange archive13 Feb 2024
- Draft red herring prospectus (DRHP)· PDF · exchange archive30 Jul 2023
- Draft red herring prospectus (DRHP)· ZIP · exchange archive31 Mar 2021
- Listing filing (XBRL)· XML · exchange archive
- In-principle approval (XBRL)· XML · exchange archive
Filed with SEBI and the exchanges by the issuer. These are the source for every figure on this page.
Compiled from NSE and SEBI offer documents and exchange feeds. A description of the issue and of the bids received — not investment advice, and not a view on whether to apply. No grey-market premium, no allotment lookup and no listing-gain estimate is published here.