Jana Small Finance Bank Ltd. has set the price band for its IPO at Rs 393–414 apiece.
The IPO will open on Feb. 7 and close on Feb. 9. The 570 crore IPO includes both a fresh issue of Rs 462 crore and an offer for sale of Rs 26,08,629 crore of shares. The lender has reserved 13.5 core shares for eligible employees to subscribe.
A total of six shareholders: Client Rosehil Ltd., CVCIGP II Employee Rosehill Ltd., Global Impact Funds, S.C.A., Growth Partnership II Ajay Tandon Co-Investment Trust, Growth Partnership II Siva Shankar Co-Investment Trust, and Hero Enterprise Partner Ventures will offload their stake in the small finance bank.
In a pre-allotment placement, Jana Small Finance Bank has raised Rs 113.05 crore through a mix of equity shares and compulsorily convertible debentures.
Based out of Bengaluru, Jana Small Finance Bank provides loans to MSMSES. It was established in 2006.
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