India's TVS Venu group to buy 9.9% stake in Jana Small Finance Bank (updated)

Jana Small Finance Bank

18/05/2026 12:22

Rewrites paragraph 1, adds stock closing level in the last bullet

May 18 (Reuters) - India's Jana Small Finance Bank JANA.NS said on Monday that industrialist Venu Srinivasan-led TVS Venu group will acquire a 9.9% stake in the lender through a mix of a primary issuance of equity warrants and a secondary share purchase.

GWC Family Fund Investments, part of the TVS Venu group, will subscribe to warrants representing a 5.64% stake via a preferential issue priced at 464.82 rupees per warrant, amounting to 3.17 billion rupees  ($32.90 million).

The warrant issue is at a 5.3% discount to Jana's closing price on Friday.

Separately, TVS Motor TVSM.NS will acquire a 4.9% stake in Jana from its promoters for 1.93 billion rupees.

Together, these transactions will take TVS’s total holding to 9.9% on a fully diluted basis, Jana said.

Jana has also approved additional warrant issuances to investors including Capri Global Ventures, Singularity Large Value Fund, and ICM Finance, taking the total issue size to 7.29 billion rupees for a 12.94% stake.

Shares of Jana Small Finance Bank ended 5.9% lower, while TVS Motor declined 5.1%.

($1 = 96.3000 Indian rupees)

 (Reporting by Kashish Tandon and Nishit Navin in Bengaluru; Editing by Eileen Soreng)

 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))