Srinivasan Venu, Shruti Lohia-promoted firms to buy minority stakes in Jana Small Finance Bank

Kolkata: A firm owned by , daughter of founder SP Lohia, will buy around 4% in besides ‘s 9.9% acquisition on a fully diluted basis, the bank said Monday.

The bank board on Monday approved raising of Rs 728 crore by selling equity shares constituting 7.31% of the fully diluted share capital.

TVS Venu, led by industrialist , will buy stakes in the bank through a combination of primary and secondary share sales as reported by ET last week. It will acquire 5% through a Singapore-based group firm called GWC Family Fund Investments Pte. Ltd in a primary deal. The balance 4.9% will be owned by its flagship , which will buy the shares from , the promoter of with 21.85% holding as of March 31.

Singularity Large Value Fund III, ICM Finance Private Ltd, Capri Global Ventures Private Ltd and Utpal Hemendra Sheth will also pick up small stakes in the bank, which is a universal bank aspirant.

TVS Venu Group’s interest in Jana Bank would mark its first investment in the banking sector. The investment would require approval from The , which would examine the fit and proper criteria of the investor. No approval is required from the central bank for up to 4.99%.

Jana is planning to upgrade itself as a universal bank which will allow it to have easier regulations in terms of capital adequacy requirement and priority sector lending targets. It initially applied for the license in June 2025 while RBI returned the application in October due to some gaps while keeping the window open for a fresh application.

The bank earned Rs 326 crore net profit for FY26, down from Rs 474 crore in the preceding fiscal. Its gross loan portfolio stood at 36289 crore, showing a 23% year-on-year growth.