Muted Listing | Jana Small Finance Bank lists at 4% discount to IPO price

Jana Small Finance Bank had a muted market debut, listing at a 4 percent discount over the IPO price on February 14. The stock opened at Rs 396 on the NSE against the issue price of Rs 414. The listing was below analyst expectations of a 7 percent premium. The Rs 570-crore offer, which consisted of a fresh issue of 1.11 crore shares worth Rs 462 crore and an offer for sale of 26.08 lakh shares worth Rs 108 crore, was subscribed 19.8 times.

Hero Enterprise Partner Ventures, Client Rosehill, CVCIGP II Employee Rosehill, and Growth Partnership II Ajay Tandon Co-Investment Trust were some of the selling shareholders in the Jana Small Finance Bank IPO. The price band was fixed at Rs 393-414 a share.