JANA SMALL FINANCE BANK LIMITED FILES DRHP WITH SEBI

Bhubaneswar: Jana Small Finance Bank Limited (“The Company”), has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
The Company plans to raise funds through offer of equity shares (face value of Rs. 10 each) comprising of fresh issue aggregating up to Rs. 5,750 million (The “Fresh Issue”) and an Offer for Sale aggregating up to 4,051,516 equity shares by “Investor Sharing Shareholders” (The “Offer for Sale”).
The offer for sale up to 4,051,516 equity shares comprises of up to 1,757,755 equity shares by Client Rosehill Limited; up to 929,656 Equity Shares by CVCIGP II Employee Rosehill Limited; up to 141,285 Equity Shares by Global Impact Funds, S.C.A., SICAR, Sub-Fund Global Financial Inclusion Fund;up to 825 Equity Shares by Growth Partnership II Ajay Tandon Co-Investment Trust; up to 1,995 Equity Shares by Growth Partnership II Siva Shankar Co-Investment Trust and up to 1,220,000 Equity Shares by Hero Enterprise Partner Ventures (The “Selling Shareholders” And Such Equity Shares The “Offered Shares”).
The Net Proceeds are proposed to be utilised towards augmentation of Bank’s Tier – 1 capital base to meet Bank’s future capital requirements such as organic growth and expansion and to comply with the regulatory requirements for enhanced capital base, as may be prescribed by the RBI from time to time.
According to Fitch Report, Jana Small Finance Bank Limited is fourth largest Small Finance Bank in terms of AUM and the fourth largest Small Finance Bank in terms of deposit size as at March 31, 2023. As at March 31, 2023, the bank had 754 banking outlets, including 272 banking outlets in unbanked rural centres, in 22 states and two union territories. As of March 31, 2023 Jana Small Finance Bank has served nearly 12 million customers since 2008, including 4.57 million active customers.
Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Issue.