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PE-backed lenders Jana Small Finance Bank, Capital SFB drop in trading debut

VCCircle

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Jana Small Finance Bank and Capital Small Finance Bank, both backed by private equity and venture capital firms, had disappointing debuts on the stock market. Jana Small Finance Bank listed with a 4.3% discount while Capital Small Finance Bank listed with an 8% discount. Despite strong oversubscription, the weak debuts resulted in lower-than-expected market capitalization for both banks. Jana SFB raised INR 462 crore through its IPO, providing an exit to Gawa Capital and partial exits to The Rohatyn Group and Hero group's family office. Capital SFB raised INR 450 crore and included an offer for sale by Amicus Capital and Oman India Joint Investment Fund.

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