Jana Small Finance Bank to raise ₹728 crore from GWC Family Fund, Singularity and Capri Global
Sarthak Kumar
Jana Small Finance Bank on Monday approved a preferential issue of warrants worth around ₹728.5 crore to a group of investors, along with plans to raise up to ₹500 crore through non-convertible debentures (NCDs).
The bank’s board approved the issuance of up to 1.56 crore warrants on a private placement basis at a price of ₹464.82 per warrant. The warrants will be convertible into equity shares within 18 months from the date of allotment, subject to shareholder and regulatory approvals, including approval from the Reserve Bank of India.
Among the key investors participating in the fundraising are GWC Family Fund Investments Pte. Ltd., Singularity Large Value Fund III, ICM Finance Private Limited, 2I Capital PCC, Capri Global Ventures Private Limited, and investor Utpal Hemendra Sheth.
GWC Family Fund Investments, which forms part of TVS Venu, may acquire up to 5.64% stake in the bank on a fully diluted basis through the warrant issue. Meanwhile, 2I Capital PCC is proposed to acquire around 4.57% stake, while the remaining investors will hold smaller stakes after conversion.
The bank said none of the investors are promoters and all of them will be classified as public shareholders following the preferential allotment.
Separately, Jana Small Finance Bank’s board also approved raising up to ₹500 crore through listed unsecured subordinated non-convertible debentures on a private placement basis. The proposed debt issuance may be carried out in one or more tranches and is aimed at strengthening the bank’s capital position.
The board has also approved amendments to the Articles of Association to enable the issuance of warrants and other convertible securities. Shareholders’ approval for the fundraising proposals and the amendment to the Articles of Association will be sought at an extraordinary general meeting scheduled for June 11, 2026.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.