"The key trigger of Jana SFBs strong fundamentals is that it intends to strengthen its liability franchise with a focus on growing its deposit base to attain a stable and low-cost source of funding. Thus, we advise the investors who have been allotted the shares to hold them for the long term," said Shreyansh V Shah, Research Analyst, StoxBox.
The IPO, which comprised fresh equity worth Rs 462 crore and an offer for sale (OFS) of 26.08 lakh shares, received healthy response from investors as the issue was booked 18.5 times at close.
Ahead of the listing, the GMP of Jana SFB is around Rs 30, indicating a gain of 7% on debut, while that of Capital SFB is Rs 0, which implies a flat or even a discounted listing. Both the IPOs of Jana SFB and Capital SFB sailed through with subscriptions of 18.5 times and 2 times, respectively.
Jana Small Finance Bank IPO was subscribed 6.63 times on Friday, the third day of the bidding process, led by robust bidding from non-institutional and institutional investors.
Jana SFB IPO: Both the categories of retail and NIIs were booked over 2%. The QIB portion lagged with just 14% subscriptions so far. In the unlisted market, the shares are fetching a premium of Rs 55, down from the previous day.