IPO latest news: Jana Small Finance Bank gets approval from SEBI to bring IPO.

IPO latest news: Jana Small Finance Bank gets approval from SEBI to bring IPO.

Jana Small Finance Bank has received market regulator SEBI’s nod to raise funds through an initial public offering (IPO).

Jana Small Finance Bank gets approval from SEBI to bring IPO.

Jana Small Finance Bank has received market regulator SEBI’s nod to raise funds through an initial public offering (IPO).

Jana Small Finance Bank has received market regulator SEBI’s nod to raise funds through an initial public offering (IPO). As per the draft Red Herring Prospectus (GRHP), the IPO proposes to offer fresh equity shares of Rs 700 crore and sale of 92,53,659 shares by existing shareholders.

Those selling shares in the sale offer include Bajaj Allianz Life Insurance Company, Hero Enterprise Partner Ventures, ICICI Prudential Life Insurance Company, Enum Securities, North Haven Private Equity Asia Platinum Pte Ltd, QRG Enterprises and Tree Line Asia Master Fund (Singapore) Pte.

The bank had applied for the IPO in April and got approval from SEBI on Monday. According to merchant banking sources, the IPO is expected to fetch Rs 1,100 crore.

Zomato’s Rs 9,375 crore IPO to open on July 14.

Online food ordering platform Zomato on Thursday said it plans to raise Rs 9,375 crore through its initial public offering (IPO) and the issue will be open for bidding from July 14 to July 16. The price range for the issue has been fixed at Rs 72 to Rs 76 per share. Earlier this week, Zomato got permission from market regulator SEBI to float an IPO.

The size of the IPO is Rs 9,375 crore and will involve issue of fresh shares worth Rs 9,000 crore, while a sale offer of Rs 375 crore will be made by Info Edge (India) Ltd. According to Zomoto, the proceeds of the issue will be used for expansion of business and for acquisitions.

IPO latest news: Jana Small Finance Bank gets approval from SEBI to bring IPO.
IPO latest news: Jana Small Finance Bank gets approval from SEBI to bring IPO.

The online food supply segment has witnessed a sharp growth in the last few years, with Zomato and Swiggy being the main competitors. When asked about the market value of the company after the IPO, Zomato Chief Financial Officer (CFO) Akshat Goyal told PTI that after this the market value of the company will be Rs 64,365 crore.