JANA SMALL FINANCE BANK LIMITED INITIAL PUBLIC OFFERING OPENS ON WEDNESDAY, FEBRUARY 7, 2024

February 07, 2024: Jana Small Finance Bank Limited (the “Bank” or “Jana SFB”), shall open bids for its initial public offering of Equity Shares face value ₹ 10 on Wednesday, February 7, 2024.

The Anchor Investor Bidding Date shall be Tuesday, February 6, 2024. The Offer will open on Wednesday, February 7, 2024 for subscription and will close on Friday, February 9, 2024.

The Price Band of the Offer has been fixed at ₹ 393 to ₹ 414 per Equity Share. Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter.

The Bank plans to raise funds through initial public offering comprising fresh issue of Equity Shares aggregating to ₹ 4,620.00 million ( the “Fresh Issue”)* after adjusting for the Pre-IPO placement and Offer of Sale aggregating up to 2,608,629  Equity Shares by the selling shareholders (the “Offer for Sale”) (together, the “Offer”). The Offer includes a reservation of up to ₹ 135.00 million for subscription by eligible employees (“Employee Reservation Portion”).

The Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting Bank’s Tier – 1 capital base to meet Bank’s future capital requirements, to improve its Tier-I capital and CRAR. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer. (the “Object of the Offer”)

The Equity Shares are being offered through the red herring prospectus dated February 1, 2024 (“RHP”) filed with the Registrar of Companies, Karnataka at Bengaluru (“RoC”).  The Equity Shares issued through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”). For the purposes of the Offer, the Designated Stock Exchange shall be BSE.

Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Offer.

All capitalized terms referred to in this press release that have not been defined shall have the same meaning as prescribed in the RHP.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (and such portion, the “QIB Portion”), provided that Bank may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors which (a) one third portion shall be reserved for Bidders with application size of more than 0.20 million and up to 1 million; and (b) two-thirds of the portion shall be reserved for Bidders with application size of more than 1 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in other sub-category of the Non-Institutional Bidders in accordance with SEBI ICDR Regulations, subject to valid Bids being received above the Offer Price and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

All potential Bidders (except Anchor Investors) are required to mandatorily utilize the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts, and UPI ID (in case of UPI Bidders using the UPI Mechanism), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process. For details, see “Offer Procedure” on page 550.