The proposed IPO would comprise a fresh issue of Rs 700 crore and an offer for sale of 92,53,659 shares.
The OFS would comprise selling of up to 17,48,975 shares by Alpha TC Holdings PTE, up to 1,15,195 shares by Badari Narayan Pilinja and up to 1,26,482 shares by Bajaj Allianz General Insurance (PolicyHolder Fund). Bajaj Allianz General Insurance (shareholder fund) will also sell up to 54,207 shares, among others.
Enam Securities, Enam’s co-founder and Chairman Vallabh Bhanshali, his HUF, ICICI Prudential, North Haven and Tree Line would be some other selling shareholders in the SFB.
The SFB said it may consider a pre-IPO placement of an aggregate amount not exceeding Rs 500 crore, including by way of a proposed further issue to its promoters for an amount aggregating up to Rs 400 crore. The pre-IPO placement, if undertaken, will be completed prior to filing of the red herring prospectus with the RoC.
If the pre-IPO placement is undertaken, the amount raised thereof will be reduced from the fresh issue.
The SFB is among the leading small finance banks in India in terms of assets under management and deposit size as on March 31, 2020.
It has the second most geographically diversified portfolio with a pan-India presence among all small finance banks in India as on March 31, 2020. As on February 28, it had 611 branches, including 166 branches in unbanked rural centres, and 134 ATMs located in 229 districts in 19 states and three union territories.
Jana Small Finance Bank has served over 80 lakh customers since 2008, including approximately 30.5 lakh active customers.
Jana SFB was incorporated on July 24, 2006. It was registered as an NBFC on March 4, 2008. Later, it was awarded as non-banking finance company-microfinance institution status on September 5, 2013. It started operating as an SFB with effect from March 28, 2018 and became a scheduled commercial bank on July 16, 2019.
