Jana Small Finance Bank Limited has informed the Exchange regarding Outcome of Board Meeting held on May 18, 2026.
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Jana Small Finance Bank's board approved raising approximately Rs 728.51 crore through preferential issuance of 1.57 crore warrants at Rs 464.82 per warrant to 6 investors. The largest investor is GWC Family Fund Investments Pte. Ltd. (part of TVS Venu) subscribing to 68.3 lakh warrants (5.64% stake), followed by 2I Capital PCC with 55.25 lakh warrants (4.57%). Upon full conversion, all investors will collectively hold around 13.04% of the fully diluted capital. The bank also approved raising up to Rs 500 crore through unsecured subordinated NCDs listed on BSE, which will qualify as Lower Tier II capital for Basel II compliance. An EGM has been scheduled for June 11, 2026 to seek shareholder approval for these proposals, with record date fixed as June 5, 2026. RBI approval is also required for the preferential issue.
This capital raise will result in significant dilution for existing shareholders (up to 13% combined). The warrant structure requires only 25% upfront payment, reducing immediate cash inflow but indicating strong investor commitment. The Rs 500 crore debt issuance will strengthen the bank's capital adequacy under Basel II requirements.