Jana Small Finance Bank has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for an Initial Public Offering (IPO). The firm plans to lift funds via provide of fairness shares with a face worth of ₹10 every comprising recent challenge aggregating as much as ₹575 crore and a proposal for sale aggregating as much as 4,051,516 fairness shares by promoting shareholders.
The internet proceeds are proposed to be utilised in the direction of augmentation of the financial institution’s Tier – 1 capital base to satisfy future capital necessities similar to natural progress and enlargement and to adjust to the regulatory necessities for enhanced capital base, as could also be prescribed by the RBI every so often, the lender mentioned.
