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Jana Small Finance Bank ready to appoint bankers for Rs 1,000-crore IPO

In December, the Rs 750-crore IPO of Ujjivan SFB was well received and got subscribed 166 times the number of shares put on offer. The shares of the bank rose 44 per cent over the issue price.

Ashley Coutinho  |  Mumbai 

Jana Small Finance Bank (SFB) has begun looking for investment bankers to manage its public share sale, two people familiar with the matter confirmed. The public offering could be in the range of Rs 1,000 crore and Rs 1,200 crore and the bank might hit the market in the second half of the year. The firm did not respond to an email seeking its response.

SFBs have to list within three years of reaching a net worth of Rs 500 crore, according to the RBI norms. Jana joins the likes of Equitas SFB, ESAF SFB, Utkarsh SFB, and Suryoday SFB through this move. The first two have already filed a draft ...

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First Published: Fri, February 21 2020. 00:32 IST
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