Shares of Jana Small Finance Bank surged 20 per cent, hitting its upper circuit, to Rs 599 on Tuesday, commanding a total market capitalization of around Rs 6,250 crore.
Jana Small Finance Bank made its Dalal Street debut earlier this month on February 14, when the stock made a muted debut and listed at a 4 per cent discount at Rs 396.
The initial public offer (IPO) of Jana Small Finance Bank was subscribed 88% on Wednesday, the first day of the bidding process. The NII portion of the issue was booked the most at 1.2 times, followed by retail investors at 1.19 times. There QIB category was subscribed just 14%.