TVS Venu Group to acquire up to 9.9% in Jana Small Finance Bank for Rs 193.3 crore 

In a release issued after the board meeting on Monday, TVS Motor said, “TVS Venu has agreed to acquire a minority stake in Jana Small Finance Bank through a combination of primary issuance of warrants and a secondary purchase for an equity ownership of up to 9.9% on a fully diluted basis, which includes 4.9% to be owned by TVS Motor”

Jana Small Finance Bank said in its regulatory filing that promoter Jana Holdings has signed a Share Purchase Agreement with TVS Motor to sell 51.6 lakh shares worth around Rs 193.3 crore. The deal is subject to regulatory approvals and other conditions.

TVS group expands financial services footprint 

The TVS Group already operates in the lending business through TVS Credit Services and signed definitive agreements to acquire 100% stake in PGIM India Asset Management. It has also signed definitive agreements to acquire 100% stake in PGIM India Asset Management.

Jana SFB investment aligns with long-term strategy: TVS Venu Chairman 

Sudarshan Venu, Chairman of TVS Motor Company said, “This investment in Jana is aligned with TVS Venu’s long-term approach to support high-quality institutions that serve India’s growing financial needs and its expanding digital financial eco-system. Jana Small Finance Bank has built a credible banking franchise with a strong presence across customer segments central to India’s credit, savings, and investment growth.”

Sudarshan Venu welcomes new investors including industrialist S P Lohia, founder of Indorama Corporation and Shruti Lohia, through her investment vehicle 2i Capital PCC. 

Jana Small Finance Bank share price

The share price of Jana Small Finance Bank has declined 5.06% in the intraday session today.

TVS Motor share price

Here is a look at the stock performance of TVS group. The share price of TVS Motor Company has declined 4.09% in the intraday session today. TVS Holding shares is also down 2.86% from the previous day close.