Chennai, May 18 -- TVS Venu, a leading player in India's financial services sector though nBCF TVS Credit Services, has agreed to acquire a minority stake in Jana Small Finance Bank Limited (JSFB) 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 Company, subject to all applicable approvals.
TVS Venu has also signed definitive agreements to acquire 100% stake in PGIM India Asset Management. The investment in JSFB (Jana) will allow for mutual collaboration in various areas for the long-term success of the Bank, subject to applicable laws.
Jana has an established presence in mass retail and MSME banking, ...