The Bangalore-based Jana Small Finance Bank Ltd (Jana SFB) whose initial public offer (IPO) ran from February 7 to February 9, is seen finalising its basis of allotment on Monday. The Rs 570 crore issue by the SFB (erstwhile Janalakshmi Financial Services) was subscribed a total 19.89 times and was commanding a grey market premium (GMP) of Rs 37 per share over its issue price of Rs 414, hinting at 9 per cent listing pop for the issue. The stock is seen listing on Wednesday, February 14, along side with Rashi Peripherals and Capital Small Finance.
At the issue price, Jana Small Finance Bank was commanding a price to book value of 1.4 times (FY24E annualised). Analysts were largely positive on Jana, considering its deposit growth, diversified loan portfolio, brand equity and improved asset quality ratios.
GMP trends
The Jana SFB listing, if the GMP trends holds true would tepid as compared to Apeejay Surrendra Park, whose shares got listed on BSE and NSE today at 20 per cent premium over the issue price.
Along with Jana SFB, three other IPO hit the Street: They were Apeejay Surrendra Park Hotels, Capital Small Finance and Rashi Peripherals. The four IPOs raised a total of Rs 2,613 crore.
Capital Small Finance is commanding 'nil' premium in the grey market while Rashi Peripherals is commanding a grey market premium of Rs 75, which hints at about 20 per cent upside at stock listing. Both the IPOs ran alongside with Jana SFB ran from February 7 to February 9. This week will, meanwhile, see two mainboard IPOs amounting Rs 1,672 crore hitting the Dalal Street.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Jana Small Finance Bank Ltd in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit
Investors can also check the allotment status on the online portal of Kfin Technologies Limited (https://kosmic.kfintech.com/ipostatus/), the registrar to the issue.
The registrar is a Sebi-registered entity, which is qualified to act and electronically process all IPO applications. The regitrar carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Also read: Hot stocks for this week: Goodyear, Cochin Shipyard, IRCON, Engineers India and more
Also read: Stock recommendations by analyst for February 12, 2024: Adani Ports, ACC and Dr Reddy's
Also read: Rashi Peripherals IPO allotment status, GMP, listing date & more