Jana Small Finance Bank IPO: GMP signals positive debut of shares

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Also Read: Jana Small Finance Bank IPO allotment out. Latest GMP, how to check allotment status online Let us check Jana Small Finance Bank IPO GMP today ahead of the share listing tomorrow. Trends in the grey market indicate a positive debut for Jana Small Finance Bank shares on the stock exchanges.

Jana Small Finance Bank shares command a grey market premium (GMP) of ₹28 apiece, as per stock market observers. This shows, Jana Small Finance Bank IPO GMP today is ₹28 per share. It means, the equity shares of the bank are trading higher by ₹28 than their issue price of ₹414 apiece in the grey market.

Considering the issue price and the GMP today, Jana Small Finance Bank IPO listing price is estimated to be ₹442 per share, which is a premium of 6.76% to the issue price. Jana Small Finance Bank IPO opened on February 7 and closed on February 9. The company raised ₹570 crore from the public issue which comprised a fresh issue of 1.12 crore equity shares aggregating to ₹462 crore and an offer for sale (OFS) of 26.08 lakh shares aggregating to ₹108 crore.

The IPO price band was ₹393 to ₹414 per equity share. Ahead of the IPO opening, Jana Small Finance Bank had raised ₹166.95 crore by allotting 40.32 lakh equity shares to 17 anchor investors on February 6. The equity shares of Jana Small Finance Bank will be listed on February 14, on both BSE and NSE.

Also Read: Vibhor Steel Tubes IPO: 10 key risks investors should consider before investing in Vibhor Steel IPO The company proposes to utilise the net proceeds from the fresh issue towards augmenting the bank’s Tier-I capital base to meet the bank’s future capital requirements and general corporate purposes. Jana Small Finance Bank IPO was subscribed 18.50 times in total. It