InvestorQ : Can you tell me details about the forthcoming IPOs of Jana bank and Macrotech Developers?
Anu Biswas made post

Can you tell me details about the forthcoming IPOs of Jana bank and Macrotech Developers?

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Ria Jain answered.
3 weeks ago
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While dates for the Macrotech IPO and the price band is already announced, the details of the IPO for Jana Small Finance Bank IPO like IPO price band and date of issue are not yet available. However, before applying for the IPO you must remember that the recent IPO listings have not been to great. In fact, apart from discount listings, even a lot of IPOs that had listed at premium earlier had slipped into discount. Just keep that in mind.

Let me start off with your query on the Jana SFB first. The Jana Small Finance Bank has filed its draft red herring prospectus or the DRHP with SEBI for a fresh issue of Rs.700 crore plus 92.54 lakh shares via OFS. It will therefore be a combination of a fresh issue and an offer for sale. Jana SFB currently has 611 branches, which includes 166 branches in unbanked rural centres which are used to serve over 80 lakh customers. Jana SFB is an SCB.

The other IPO that you asked about is Macrotech Developers which was formerly referred to as Lodha Developers. This IPO will hit the market on 07 April and remain open till 09 April for subscription. The IPO will be entirely a fresh issue of Rs.2,500 crore issued in the per share price band of Rs.483-486. Out of the total proceeds raised, Rs.1500 crore will be used to reduce its debt while Rs.375 crore will be spent to buy land and land development rights.

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