TVS Group acquires Jana Small Finance Bank stake

TVS Group>>>, led by Sudarshan Venu>>>, has agreed to acquire a minority stake of up to 9.9% in AU Small Finance Bank>>> through a combination of primary issuance of warrants and secondary share purchases. This includes a 4.9% stake to be held directly by TVS Motor Company>>> for Rs 193.31 crore, acquired from Jana Holdings Limited>>>. The transaction, valued at approximately Rs 500-510 crore for the full 9.9% stake, is part of TVS Group>>>'s broader strategy to expand its presence in India>>>'s financial services sector, complementing its existing operations through TVS Credit Services>>> and the recent agreement to acquire Prudential Financial — PGIM India Asset Management>>>. AU Small Finance Bank>>>, the fourth-largest small finance bank in India>>>, serves over 12 million customers across 23 states and two Union Territories. The investment is expected to foster long-term collaboration and support AU Small Finance Bank>>>'s growth in India>>>'s expanding digital financial ecosystem. Regulatory approvals, including from the State Bank of India>>>, are pending. Additionally, GWC Family Fund Investments Pte. Ltd.>>> proposes to subscribe to AU Small Finance Bank>>> share warrants, and new investors like S. P. Lohia>>> and Shruti Lohia>>> are welcomed.