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jana small finance bank Limited

75.00
+ 0.00 %
Scrip Name
JANA SFBL
ISIN No.
INE953L08212
PAN No.
AABCJ7024M
Face Value
10
No. of Outstanding Shares
50,727,257
Market Capitalization
380.45 Crore

JANA SMALL FINANCE BANK LIMITED UNLISTED SHARE

ABOUT JANA SMALL FINANCE BANK LIMITED


JANA SMALL FINANCE BANK LIMITED is a scheduled commercial bank. It was first started as Janalakshmi Financial Services Limited in 2016 as an Indian Micro Finance Institution (MFI) to provide finances for India’s low-income and under banked population. Later in 2017, Janalakshmi Financial Services Limited got a Small Finance Bank license. Therefore in 2018, it rebranded its name to Jana Small Finance Bank Limited and started operations as a Small Finance Bank.


The Jana Small Finance Bank was established in Bengaluru. Today, it is recognized globally as one of the most innovative financial institution working on financial inclusion.


The bank deliver its products through Branches, business correspondents, ATMs, ATM cum debit cards, mobile banking platforms (including unified payment interface facilities), internet banking portals, and SMS alerts.


On February 28, 2021, Jana Small Finance Bank Limited had 611 Branches, of which 197 were metro Branches, 178 were urban Branches, 70 were semi-urban Branches and 166 were rural Branches And as on February 28, 2021, the bank had operations in 19 states and 3 union territories.


Bajaj Alliance, Enam Holdings, Havells, ICICI Lombard, Morgan Stanley Private Equity Asia, Tata Capital Growth Fund are some of Jana Small Finance Bank’s  prominent shareholders.


INCORPORATION DETAILS


CIN

U65923KA2006PLC040028

Registration Date

26 July 2006

Category / Sub-Category of the Company

Public Company Limited by Shares

Address of the Registered office and contact details

The Fairway Business Park, First Floor,

Survey No.10/1, 11/2 & 12/2B,

Off Domlur, Koramangala Inner Ring Road,

Next to EGL Business Park Challaghatta,

Bengaluru – 560071

Name, Address and Contact details of Registrar and Transfer Agent, if any

KFin Technologies Private Limited, Selenium, Tower B, Plot No. 31 and 32 Financial District Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032 Telangana, India.

Tel: +91 40 6716 222

 

PARTICULARS OF SUBSIDIARY AND ASSOCIATECOMPANIES

JANA SMALL FINANCE BANK LIMITED does not have any subsidiary or associate company.



BOARD OF DIRECTORS

Ramesh Ramanathan (Non-executive Chairman)

Ajay Kanwal (MD & CEO)

Ramalingam Ramaseshan (Non-Executive Independent Director)

Vikram Gandhi (Non-Executive Independent Director)

Chitra Talwar (Independent Director)

Eugene Emmanuel Karthak (Non-Executive Independent Director)

P R Seshadri (Non-Executive Independent Director)

Rahul Khosla (Non Independent & Non Executive Director)

Vijayalatha Reddy (Non-Executive Independent Director)


PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

Banking & Financial Services

64191


SHAREHOLDING PATTERN


(As on 28-02-2021)


Category of Shareholders

No. of Shares

% of total Shares of the company

Promoters

2,13,44,374

42.08

Public

2,93,82,883

57.92

Total

5,07,27,257

100

 

JANA SMALL FINANCE BANK LIMITED UNLISTED SHARE DETAILS


Total Available Shares:

5,07,27,257

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE953L08212

PAN No.

AABCJ7024M

Lot Size:

100 Shares

Last Traded Price

Rs. 75

Market Cap:

Rs. 380.45 Crore

 

INDUSTRY OUTLOOK

Small  Finance  Banks  shall  perform  basic  banking  function  like acceptance  of  all types of deposits and lending loans to unbanked areas of the country. Small Finance Banks have to follow all the norms and regulations applicable  to  commercial banks  like maintenance  of  Cash  Reserve  Ratio and Statutory Liquidity Ratio.


Small Finance Banks are required to give 75% of their loan to priority sector and 50% of its loan portfolio constitutes loans and advances of maximum up to Rs. 25 lakhs. The minimum paid up equity capital is 100 crores. The promoter’s stakes should be 40% minimum that must be brought down to 26% in 12 Years. The basic objectives for the setting up of SFBs are provide credit facilities to small business units, small  farmers,  micro  and  small  industries  and  unorganized  sectors  and  reform to improve financial inclusion in the country. Small Finance Banks cannot perform non-banking financial services and not allowed to lend to big  industries.


2020 was a year mainly dominated and impacted by COVID-19. Small Finance Banks are beginning to feel the effect to local and state wise lockdowns. However, Small finance banks are better prepared this year (2021) in second wave of COVID 19 pandemic. Rural customers of Small Finance Banks are less affected by the second wave of COVID 19. There have been delays in collections, but collections have been hit only 1-3% in this second wave of COVID.


According to ICRA, a rating agency, microfinance industry is likely to face asset quality pressure in the short term. However, the majority of microfinance industry will withstand the any stress as their collection capacity is improving. Moreover, their balance sheets mention that they are maintaining sufficient liquidity for tackling emergencies.


The collection capacity of the small finance bank industry improved to around 102%. The Indian microfinance market is expected to grow at CAGR of more than 40% through 2025. South India accounts for more than one third of the market share of Microfinance industry.


The advances and depositsin the Small Finance Bank industry has increased with the CAGR of 75.3% and 155.3% respectively during the period FY16-FY20. It is expected to grow with the CAGR of 23.0-24.0% during the period FY20-FY23. SFBs’ share in total banking industry has increased from 0.3% in FY19 to 0.5% in FY20 in case of credit, and deposits share has increased from 0.6% in FY19 to 0.9% in FY20 and reporting offices share has increased from 1.5% in FY19 to 2.8% in FY20.


KEY FINANCIALS OF JANA SMALL FINANCE BANK LIMITED (In Rs. Crores)

Particulars

2020

2019

2018

2017

INCOME





Interest Earned

1,991.52

1,250.54

1,554.79

2,821.98

Other Income

433.25

117.73

42.26

156.28

TOTAL INCOME

2,424.77

1,368.27

1,597.05

2,978.26

EXPENDITURE





Interest Expended

980.16

813.63

1,163.89

1,229.33

Operating expenses

1,164.08

1,131.19

1,455.30

1,189.39

Provisions and Contingencies

250.4

1,372.51

1,481.66

389.44

TOTAL EXPENDITURE

2,394.64

3,317.33

4,100.85

2,808.16

NET PROFIT/(LOSS) FOR THE YEAR

30.13

-1,949.06

-2,503.80

170.10

Balance in P&L account brought forward

-4,130.81

-2,181.75

325.36

205.42

TOTAL PROFIT/(LOSS)

-4,100.68

-4,130.81

-2,178.44

377.52

EPS

6.21

-471.84

-787.88

62.38

 

SOME OTHER IMPORTANT FINANCIAL PARAMETERS

Particulars

2020

2019

2018

Asset Under Management (In Rs. Crores)

11,298.67

6,519.57

7,635.89

Net NPAs

1.41%

4.39%

27.72%

Credit to deposit ratio

103.18%

148.07%

NA

Net interest margin

9.81%

5.78%

3.47%

Net worth (In Rs. Crore)

1,027.32

660.88

1,523.69

Number of active customers

30,70,554

22,51,710

42,26,807

 

BALANCE SHEET OF JANA SMALL FINANCE BANK LIMITED(In Rs. Crores)

Particulars

2020

2019

CAPITAL AND LIABILITIES



Capital

200.72

197.16

Reserves and Surplus

842.79

476.48

Deposits

9,651.95

4,198.70

Borrowings

2,898.74

4,086.47

Other liabilities and provisions

552.91

487.49

TOTAL CAPITAL AND LIABILITIES

14,147.11

9,446.30

ASSETS



Cash and balances with Reserve Bank of India

473.85

1,080.97

Balances with banks and money at call and short notice

506.46

87.59

Investments

2,650.03

1,468.13

Advances

9,959.24

6,217.08

Fixed assets

260.01

334.46

Other assets

297.52

258.07

TOTAL ASSETS

14,147.11

9,446.30

Contingent liabilities

37.16

51.60

Bills for Collection

-

-

 

PERFORMANCE OF THE COMPANY

Interest Income of Jana Small Finance Bank Limited has increased by 59% from Rs. 1,250.54 Crores in FY 2019 to Rs. 1,991.52 Crores in FY 2020.


Interest Expended increased 20% in FY 2020 to Rs. 980.16 Crores from Rs. 813.63 Crores in FY 2019.


Provisions and Contingencies has decreased significantly by 81.76% in FY 2020 to Rs. 250.4 Crores from Rs. 1,372.51 Crores in FY 2019.


The bank has turn profitable in FY 2020. In FY 2019, Jana small finance bank registered the loss of Rs. 1,949.06 Crores. In FY 2020, the bank made profits of Rs. 30.13 Crores.


Jana Small Finance Bank has reduced its borrowings from Rs. 4,086.47 Crores in FY 2019 to Rs. 2,898.74 Crores in FY 2020, a reduction of29%.


The banks Advances has increased by 60% in FY 2020 to Rs. 9,959.24 Crores from Rs. 6,217.08 Crores in FY 2019. Moreover, Deposits with banks has seen a massive rise of 129.88% in FY 2020. Deposits in FY 2020 reached Rs. 9,651.95 Crores from Rs. 4,198.70 Crores in FY 2019.


The bank’s capital adequacy ratio for FY 2020 was 13.12%, as against 12.27% in FY 2019.


Net NPAs of the bank has come down to 1.41% in FY 2020 from 4.39% in FY 2019.



JANA SMALL FINANCE BANK IPO


Jana Small Finance Bank has filed the DRHP with SEBI to float an initial share sale. The IPO comprises of fresh issuance of equity shares worth Rs. 700 Crores and an offer for sale of up to 92,53,659 shares by existing shareholders.

The Jana small finance bank has proposed to utilize the net proceeds from the fresh issue towards augmenting its Tier – 1 capital base to meet future capital requirements.

The proceeds will also be used for meeting the expenses in relation to the offer.

https://economictimes.indiatimes.com/markets/ipos/fpos/jana-small-finance-bank-files-draft-ipo-papers-with-sebi/articleshow/81828115.cms

https://economictimes.indiatimes.com/markets/ipos/fpos/jana-small-finance-bank-files-drhp-for-ipo-after-missing-deadline/articleshow/81847004.cms


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