The Bengaluru-headquartered Jana Small Finance Bank’s public issue, which closes today for public subscription, has been subscribed 1.83 times. Anchor investorsPE majors TPG and Morgan Stanley-backed Jana Small Finance Bank on Tuesday, garnered ₹167 crore from anchor investors, as part of the IPO. About the SFBJana Small Finance Bank is the fourth largest small finance bank in terms of AUM and the fourth largest small finance bank in terms of deposit size as ofSeptember 30, 2023. It started operating as a small finance bank from March 28, 2018 and became a Scheduled Commercial Bank on July 16, 2019. Its primary unsecured loan products are individual and micro business loans, agricultural and allied loans and group loans (group loans are offered to a group of women as per the Joint Liability Group model).

Source: The Hindu February 09, 2024 06:22 UTC