In a stock exchange filing, Jana Small Finance Bank said it would issue warrants convertible into equity shares by way of preferential issue on a private placement basis to TVS Venu Group and also other investors totalling 1,56,72,909 shares for a total sum of about Rs 728.50 crore.
68,29,909 subscription warrants, each carrying a right to subscribe to 1 (one) equity share of the Jana Small Finance Bank at a price of Rs 464.82 per subscription warrant aggregating to Rs 317.5 crore to GWC Family Fund Investments Pte. Ltd.
The warrant may be exercised and converted in one or more tranches during the period commencing from the date of allotment of the Subscription Warrants till 18 months from the date of allotment of the Subscription Warrants, to GWC Family Fund Investments Pte. Ltd.
Meanwhile, TVS Motor Company has agreed to buy 4.90 per cent stake Jana Small Finance Bank for Rs 193.31 crore. TVS Motor will buy 51,60,903 equity shares.
10,20,923 subscription warrants will be allotted to Singularity Large Value Fund III for about Rs 47.45 crore, which amounts to 0.84 per cent stake. A similar quantum would be allotted to ICM Finance Private Ltd. and Capri Global Ventures Private Ltd.
2I Capital PCC (the investment which will be beneficially held by SESR Investments Pte. Ltd.) will be allotted 55,25,000 warrants which amounts to 4.57 per cent stake for a consideration of about Rs 256.81 crore.
Utpal Hemendra Sheth will pick up 0.21 per cent and allotted 2,55,231 warrants for about Rs 11.86 crore.
The bank’s board has also approved raising Rs 500 crore by issue of debt securities on a private placement basis.