TVS VENU has agreed to acquire a minority stake in Jana Small Finance Bank 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 a long-standing presence in India's financial services sector through TVS Credit Services, a leading Non-Banking Financial Companies offering consumer and retail loans to millions of customers across India. It has also signed definitive agreements to acquire 100% stake in PGIM India Asset Management. The investment in Jana Small Finance Bank (Jana) will allow for mutual collaboration in various areas for the long-term success of the Bank, subject to applicable laws.

Sudarshan Venu, Chairman, TVS Motor Company said, “We firmly believe that a key driver to India's growth is the strengthening and expansion of India's financial services. We have been serving more than 44 million financial services customers across more than 100,000 touch points pan India, and are excited about the huge opportunity that the sector presents. This investment in Jana is aligned with TVS VENU's long-term approach to support high-quality institutions that serve India's growing financial needs and its expanding digital financial eco-system. Jana Small Finance Bank has built a credible banking franchise with a strong presence across customer segments central to India's credit, savings, and investment growth. We are thankful to TPG Capital for backing and building Jana together with Ajay and his team. We are also excited to welcome new investors, particularly the highly respected industrialist Mr S P Lohia, founder of Indorama Corporation and Ms Shruti Lohia, through her investment vehicle 2i Capital PCC. We are very thankful to Mr Haigreve Khaitan and Khaitan & Co for their continued advice and legal counsel. Subject to the necessary approvals, we look forward to supporting Jana in its journey towards a leading Bank in India.”