Jana Small Finance Bank IPO: Eyes on Listing Day

Jana Small Finance Bank IPO: Eyes on Listing Day

VoM News Desk | February 13, 2024 | 04:36 PM IST | Breaking News | Follow on Google News

Jana Small Finance Bank IPO: Eyes on Listing Day

Jana Small Finance Bank IPO: Eyes on Listing Day

Investors are eagerly awaiting the listing of Jana Small Finance Bank IPO on February 14, following the completion of IPO allotment. The strong response from investors during the bidding period, which ran from February 7 to February 9, has heightened anticipation. The IPO, which raised ₹570 crore, saw robust demand.

Grey Market Premium Signals Positive Debut

The grey market is indicating a positive debut for Jana Small Finance Bank shares. The Grey Market Premium (GMP) stands at ₹28 per share, reflecting a favorable sentiment. Investors closely watch the GMP trends to estimate the listing price. With this GMP, the estimated listing price of Jana Small Finance Bank IPO shares is anticipated to be ₹442 per share, representing a premium of 6.76% over the issue price of ₹414.

Key Details of Jana Small Finance Bank IPO

Jana Small Finance Bank’s IPO, open from February 7 to February 9, raised funds through a fresh issue of equity shares and an offer for sale (OFS). The IPO price band was set at ₹393 to ₹414 per equity share. The bank garnered ₹570 crore, with the IPO subscribed 18.50 times. Notably, the QIB category saw a substantial oversubscription of 38.75 times.

Listing on BSE and NSE

The equity shares of Jana Small Finance Bank are scheduled to be listed on both BSE and NSE on February 14. The funds raised will be utilized to enhance the bank’s Tier-I capital base, meeting future capital requirements, and for general corporate purposes.

Investors, after closely tracking the IPO journey, now anticipate a successful debut for Jana Small Finance Bank on the stock exchanges.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.