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Jana Small Finance Bank, Capital SFB IPOs to open on February 7

Bangalore-based Jana SFB is looking to raise Rs 570 crore with Rs 462 crore worth of shares through fresh issuance

IPO

Aathira Varier Mumbai

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Jana Small Finance Bank (Jana SFB) and Capital Small Finance Bank (Capital SFB) will open their Initial Public Offerings (IPO) on February 7, 2024, and close on February 9, 2024. Anchor investing will begin on February 6, 2024, for both. The proceeds from the funds raised will be used to strengthen the Tier-1 capital of the lenders.

Bangalore-based Jana SFB is looking to raise Rs 570 crore with Rs 462 crore worth of shares through fresh issuance and 2,608,629 shares worth Rs 108 crore via an offer for sale (OFS). The price band is fixed between Rs 393 to Rs 414 per share.

The offer for sale comprises stake sale by Client Rosehill, CVCIGP II Employee Rosehill, Global Impact Funds, Growth Partnership II Ajay Tandon Co-Investment Trust, Growth Partnership II Siva Shankar Co-Investment Trust, and Hero Enterprises Partner Ventures. The proceeds from the OFS will be distributed among these stakeholders.

Prior to the IPO, the small finance bank opted for a pre-IPO placement of 24,39,607 equity shares at an issue price of Rs 414 per share. The investors included SBI General Insurance, Kotak Mahindra Life Insurance, Ananta Capital Ventures Fund, Arka Nxt Ventures, Capri Global Holdings, and RPM Ventures Partners.

Axis Capital, ICICI Securities, and SBI Capital Markets are the book running lead managers for the issue, while Kfin Technologies is the registrar. Investors can bid for a minimum of 36 equity shares and in multiples of 36 shares thereafter.

The Jalandhar-based Capital SFB plans to raise Rs 523.07 crore through the IPO with Rs 450 crore via fresh issue and the remaining via issuance of OFS of 15,61,329 shares worth around Rs 73 crore. The price band is fixed at Rs 445 to Rs 468.

The offer for sale comprises stake sale by Oman India Joint Investment Fund, Amicus Capital, Amicus Capital Partners India Fund.

The lead book running managers for the issue are Nuvama Wealth Management, DAM Capital Advisors, and Equirus Capital, while Link Intime India is the registrar. Investors can bid for a minimum of 36 equity shares and in multiples of 36 shares thereafter.

The funds raised thus will be used by the lenders to strengthen their capital adequacy as they continue to grow their loan portfolio.

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First Published: Feb 02 2024 | 9:23 PM IST

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