Jana Small Finance Bank IPO - Play On Underserved Middle Income Group: IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Jana Small Finance Bank launched its initial public offering today and the offer will close for subscription on Feb 09. The 570 crore IPO comprises of both a fresh issue of Rs 462 crore and an offer for sale of Rs 26,08,629 crore of shares.The bank has fixed the price band at Rs 393-414 apiece. The minimum order lot is 36 equity shares and in multiples thereafter..Jana SFB is the fourth largest small finance bank in terms of assets under management as well as in terms of deposit size as on September 30, 2023. As of Sep 30, 2023, Jana SFB has a rapidly expanded network with 771 banking outlets, including 278 banking outlets in unbanked rural centers, in 22 states and two union territories while serving 4.87 million active customers. Jana has witnessed a robust AUM growth (25% CAGR FY21- FY23) and has also witnessed healthy deposit growth, at a CAGR of 15% FY21- FY23. The bank has placed a strong emphasis on increasing their retail deposits, and with its low-cost, diversified retail deposit base, the bank has decreased its cost of funds from 8.61% FY21, to 7.02% FY23. At upper price band, IPO is priced at price/book value of 1.2 times based on September 2023 with return on asset of 1.60%. We recommend Subscribe for long term..Click on the attachment to read the full report:.Jana Small Finance Bank's Rs 570 Crore IPO To Open On Feb 7.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Jana Small Finance Bank IPO - Play On Underserved Middle Income Group: IDBI Capital

The 570 crore IPO has launched today and the bank has fixed the price band at Rs 393-414 apiece

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