Jana Small Fin. Bank

** Citi (neutral, PT: 360 rupees) says a potential stake acquisition in Jana Small Finance Bank JANA.NS could expand Federal Bank's FED.NS reach into underpenetrated markets and add a high-yield secured retail portfolio

** Brokerage says Jana's assets and deposits are equivalent to about 14% and 11% of Federal Bank's advances and deposits, respectively, offering meaningful scale

** Adds, Jana's secured retail lending franchise complements Federal Bank's portfolio diversification efforts and could aid profitability

** However, Citi flags risks including integration challenges, inherited unsecured exposures and uncertainty around deal structure and valuation

** JANA down 4.9% on Wednesday while FED trades flat

** YTD, JANA up 27.6% while FED up 30%

(Reporting by Kashish Tandon in Bengaluru)

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** Federal Bank FED.NS shares drop as much as 4.4% to one-month low of 342.05 rupees

** Jana Small Finance Bank's JANA.NS promoter may sell entire 16.9% stake to Federal Bank, CNBC-TV18 reports

** After the stake sale, Federal Bank is expected to launch an open offer for the remaining shares, report says, adding that the deal is in advanced stages

** Federal Bank says there is no material event requiring disclosure in response to a query from exchanges

** It is evaluating various opportunities in the ordinary course of business to support growth and expansion, lender adds

** Jana Small Finance Bank did not immediately respond to Reuters request for comment

** JANA shares down 2.8% on the day

** FED, JANA up 31 and 33% year-to-date, exchange data shows

(Reporting by Bharath Rajeswaran and Vivek Kumar M in Bengaluru)

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** Shares of India's Jana Small Finance Bank JANA.NS rise as much as 6.6% to 521 rupees, their highest since June 2025; last up 2.3%

** Co on Wednesday reported Q1 net profit up 52.3% y/y; interest earned up 22.1% y/y

** Systematix ("buy", PT 590 rupees) positively flags lower-than-expected credit costs; says margin expansion driven by higher yields, lower cost of funds and lower interest reversals

** More than 4.3 mln shares traded by 11:54 a.m., 7.4x the 30-day avg

** Stock up 17.6% YTD

(Reporting by Abhirami G in Bengaluru)

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July 15 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK LTD JUNE-QUARTER NET PROFIT 1.55 BILLION RUPEES

• JANA SMALL FINANCE BANK JUNE-QUARTER GROSS NPA 2.39%

• JANA SMALL FINANCE BANK JUNE-QUARTER INTEREST EARNED 15.15 BILLION RUPEES

• JANA SMALL FINANCE BANK JUNE-QUARTER PROVISIONS AND CONTINGENCIES 1.78 BILLION RUPEES

Source text: ID:nBSE1xf4P0

Further company coverage: JANA.NS

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Changes headline, adds Jana Small Finance Bank's exchange filings in bullets 7, 9, and 10

By Gopika Gopakumar

MUMBAI, July 1 (Reuters) - India Ratings & Research downgraded bonds of TPG-backed Jana Holdings Ltd (JHL), the holding company of Jana Small Finance Bank JANA.NS, and a subsidiary to "default" status after the companies got a six-month extension to repay bondholders around 42 billion rupees ($443.44 million).

Here are the details:

• The India Ratings report on Tuesday downgraded JHL and unit Jana Capital's non-convertible debentures (NCDs) rating to "default" from "stable", citing poor liquidity with high refinancing risk.

• The agency has put the rating of the bank under "watch with negative implication", potentially delaying its re-application for a universal bank licence.

• The repayment was extended to December 31, 2026, from June 30, 2026, as per India Ratings' report.

• "Ind-Ra has considered this amendment as a modification of the original contractual terms of the NCDs and treated it as a Distressed Debt Exchange as per its Default Recognition Criteria," said the rating agency in its report.

• TPG Asia is one of the JHL bondholders.

• The holding company was to make the repayment by selling its stake in Jana Small Finance Bank or through refinancing, but failed to do so.

• Jana Small Finance Bank, in an exchange filing, said that the restructuring pertains solely to the debt obligations of its promoter and has no impact on the financials and operations of the bank.

• In April, JHL divested a 4.9% stake in the bank to the TVS Group for 1.93 billion rupees.

• Jana Holdings currently holds a nearly 17% stake in the bank. The company reduced its stake from about 44% over the years and has not infused any capital since 2022, the bank said.

• The bank said that once JHL's stake reduces below 9.99%, it proposes to seek reclassification from promoter to public category shareholder.

• TPG and GIC's Caladium Investments hold a 19% stake each in the holding company.

($1 = 94.7150 Indian rupees)

(Reporting by Gopika Gopakumar and Nishit Navin; Editing by Harikrishnan Nair)

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May 22 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - COMPLETES ACQUISITION, NOW HOLDS 4.90% STAKE IN JANA SMALL FINANCE BANK

Source text: ID:nBSE8g4W6B

Further company coverage: TVSM.NS

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Rewrites paragraph 1, adds stock closing level in the last bullet

May 18 (Reuters) - India's Jana Small Finance Bank JANA.NS said on Monday that industrialist Venu Srinivasan-led TVS Venu group will acquire a 9.9% stake in the lender through a mix of a primary issuance of equity warrants and a secondary share purchase.

• GWC Family Fund Investments, part of the TVS Venu group, will subscribe to warrants representing a 5.64% stake via a preferential issue priced at 464.82 rupees per warrant, amounting to 3.17 billion rupees ($32.90 million).

• The warrant issue is at a 5.3% discount to Jana's closing price on Friday.

• Separately, TVS Motor TVSM.NS will acquire a 4.9% stake in Jana from its promoters for 1.93 billion rupees.

• Together, these transactions will take TVS’s total holding to 9.9% on a fully diluted basis, Jana said.

• Jana has also approved additional warrant issuances to investors including Capri Global Ventures, Singularity Large Value Fund, and ICM Finance, taking the total issue size to 7.29 billion rupees for a 12.94% stake.

• Shares of Jana Small Finance Bank ended 5.9% lower, while TVS Motor declined 5.1%.

($1 = 96.3000 Indian rupees)

(Reporting by Kashish Tandon and Nishit Navin in Bengaluru; Editing by Eileen Soreng)

(([email protected]; 8800437922;))

May 13 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK LTD - TO CONSIDER FUND RAISING PROPOSAL AT BOARD MEETING ON 18 MAY 2026

Source text: ID:nBSEcgkF8Y

Further company coverage: JANA.NS

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April 29 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK MARCH-QUARTER NET PROFIT 1.4 BILLION RUPEES

• JANA SMALL FINANCE BANK MARCH-QUARTER GROSS NPA 2.46%

• JANA SMALL FINANCE BANK MARCH-QUARTER INTEREST EARNED 14.45 BILLION RUPEES

• JANA SMALL FINANCE BANK MARCH-QUARTER PROVISIONS AND CONTINGENCIES 1.95 BILLION RUPEES

Source text: ID:nBSE2ph2Jg

Further company coverage: JANA.NS

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** India's Jana Small Finance Bank JANA.NS sheds 3.5% to 474.90 rupees

** Lender reports 40% Y/Y slump in Q1 profit and worsening asset quality

** Its net interest income, however, grew 2.5% Y/Y, led by treasury gains

** Gross non-performing assets as a percentage of total loans deteriorated to 2.91% as of June-end vs 2.71% at end-March

** Stock trims YTD gains to 20%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

** Indian small finance banks climb between 1% and 3%

** Reserve Bank of India late on Friday reduced mandatory priority sector lending by small finance banks by 15 percentage points

** Aim lowered to 60% from 75% earlier

** ESAF Small Finance Bank EASF.NS leads rise among pack with its 2.7% gain

** Jana Small Finance Bank JANA.NS and Capital Small Finance Bank CPIA.NS up about 1% each

** AU Small Finance Bank AUFI.NS and Ujjivan Small Finance Bank UJJI.NS trading marginally higher

** Reduction in lending target offers "significant" relief to small finance banks, easing lending constraints and improving portfolio flexibility, ICICI Direct analysts say

(Reporting by Kashish Tandon in Bengaluru)

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June 20 (Reuters) - India's central bank on Friday reduced the mandated portion of lending that small finance banks have to extend to priority sectors such as agriculture and small businesses, lowering it by 15 percentage points.

Small finance banks currently have to extend 75% of their loans to priority sectors. After a review, the Reserve Bank of India has effectively cut the requirement to 60% of total lending.

(Reporting by Manvi Pant in Bengaluru; Editing by Vijay Kishore)

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By Dharamraj Dhutia

MUMBAI, June 19 (Reuters) - Indian government bond yields jumped on Thursday as rising oil prices due to escalating geopolitical tensions weighed on sentiment, while traders trimmed positions ahead of Friday’s debt auction.

The yield on the benchmark 10-year bond IN063335G=CC ended at 6.3095%, compared with the previous close of 6.2615%. The five-year 6.75% 2029 bond IN067529G=CC yield ended at 6.0236% after ending at 5.9434% the previous day.

New Delhi will sell bonds worth 270 billion rupees ($3.11 billion) on Friday, which includes 150 billion rupees of the liquid five-year bond. The yield on this note is up nearly 18 basis points in last two weeks.

"Movement in oil prices will decide the trajectory of financial markets in near term, while demand for tomorrow's auction will also be crucial," said Gopal Tripathi, head of treasury and capital markets at Jana Small Finance Bank.

The benchmark Brent crude contract was hovering around $77 per barrel, and has gained over 10% in the last five sessions on worries that the Iran-Israel conflict could disrupt supplies.

India imports a bulk of its crude oil needs and higher prices could impact the nation's inflation outlook.

Earlier this month, the Reserve Bank of India reduced its inflation forecast for the current year to 3.7%, while cutting its key lending rate by a steeper-than-expected 50 basis points.

It, however, reverted to a "neutral" stance from "accommodative", prompting analysts to forecast the end of the easing cycle.

The minutes of this meeting are due after market hours on Friday, and will provide clarity on the central bank's thinking on interest rate trajectory.

RATES

Indian overnight index swap (OIS) rates witnessed witnessing paying pressure across the curve tracking upward pressure on bond yields.

The one-year INR1YMIBROIS=CC OIS rate ended at 5.525%, while the two-year OIS rate INR2YMIBROIS=CC ended at 5.53% and the liquid five-year INR5YMIBROIS=CC OIS rate rose nearly 7 bps to 5.75%

($1 = 86.7300 Indian rupees)

(Reporting by Dharamraj Dhutia)

(([email protected]))

** Jana Small Finance Bank shares JANA.NS jump about 6% to 549 rupees, setting the stock for third straight session of gains

** The private lender says it is seeking the RBI's nod to transition to a universal bank, which would widen its business ambit

** Trading volume at 424k shares vs 30-day avg of ~246k

** YTD stock up 39%

(Reporting by Hritam Mukherjee in Bengaluru)

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June 9 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK - SEEKING APPROVAL FOR VOLUNTARY TRANSITION TO A UNIVERSAL BANK FROM RBI

Source text: ID:nBSEc4PMzC

Further company coverage: JANA.NS

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May 9 (Reuters) -

• RBI IMPOSES MONETARY PENALTY ON JANA SMALL FINANCE BANK LIMITED

• RBI- RBI IMPOSES MONETARY PENALTY 10 MILLION RUPEES ON JANA SMALL FINANCE BANK

Source text: [ID:]

Further company coverage: [ ]

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March 7 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK LTD - RBI GRANTS AUTHORIZED DEALER LICENSE TO JANA SMALL FINANCE BANK

• JANA SMALL FINANCE BANK - RBI LICENSE TO DEAL IN FOREIGN EXCHANGE

Source text: ID:nBSEbDPNvs

Further company coverage: JANA.NS

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By Khushi Malhotra

MUMBAI, March 4 (Reuters) - Indian government bond yields ended barely changed on Tuesday as the impact of the slide in U.S. yields was offset by heavy debt supply from states.

The yield on the 10-year benchmark note IN067934G=CC ended at 6.7447%, compared with its previous close of 6.7383%.

"The bond market is not reacting to the lower trajectory of U.S. yields because the prevailing liquidity and rupee situation is impacting the market substantially," said Gopal Tripathi, head of treasury and capital markets at Jana Small Finance Bank.

"Yields are likely to trade in a narrow range for now."

Longer-dated U.S. Treasury yields fell on Monday, and extended their decline in Asian hours after weaker manufacturing data spurred bets that the Federal Reserve may cut rates by 75 basis points in 2025.

Markets were anticipating just about 25-basis-point rate cut at the start of the year. The Fed will announce its policy decision later this month.

Indian bond yields briefly tracked the drop in U.S. peers, but came off lows as higher-than-expected state debt supply soured demand.

Indian states raised 505 billion rupees ($5.79 billion) via bonds at cutoff yields that were higher than expectations, highlighting dwindling appetite for debt in the last month of the financial year that ends on March 31.

The quantum was highest in a year and over 100 billion rupees more than planned earlier. States are scheduled to raise another 1.35 trillion rupees in March, with many expecting that number to be exceeded.

There are likely fewer buyers in the market, as investors expect banking system liquidity to tighten further during March due to tax payouts, Jana Small Finance's Tripathi said.

"The new borrowing calendar will start from April, and traders would want a lighter book during that time, so people will try to clean up a bit right now."

($1 = 87.2650 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected]))

** Shares of Jana Small Finance Bank JANA.NS jump 18% to 431.25 rupees, set for their best day in nine months

** Lender reports 18% Y/Y drop in Q3 net profit, hurt by high credit costs

** ICICI Securities, though, upgrades JANA to "buy" from "add" as it expects earnings to rebound from FY26

** Says credit costs to stay high in Q4 but FY26 may be a normalised year as costs begin to subside

** Brokerage cuts PT to 485 rupees from 580 rupees

** More than 7.2 mln shares traded in stock's busiest day since May 2024

** Stock gains 17% since trading debut in Feb 2024

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Jan 21 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• DEC-QUARTER NET PROFIT 1.11 BILLION RUPEES

• DEC-QUARTER GROSS NPA 2.80%

• DEC-QUARTER INTEREST EARNED 11.77 BILLION RUPEES

• DEC-QUARTER PROVISIONS AND CONTINGENCIES 1.74 BILLION RUPEES

Source text: ID:nBSE5hK3xj

Further company coverage: JANA.NS

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** Shares of Jana Small Finance Bank JANA.NS fall as much as 10.9% to 454.8 rupees, lowest since April 24

** JANA posts 21% fall in Q2 net profit, 21% rise in expenditure Y/Y

** Lender hurt by rise in gross non-performing assets in the qtr

** Stock on track for sixth straight session of decline

** More than 485,000 shares traded, 2.3x its 30-day avg

** JANA up ~25% since listing in mid-Feb

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Oct 21 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• SEPT-QUARTER NET PROFIT 967.2 MILLION RUPEES

• SEPT-QUARTER GROSS NPA 2.97%

• SEPT-QUARTER INTEREST EARNED 11.66 BILLION RUPEES

• SEPT-QUARTER PROVISIONS AND CONTINGENCIES 2.1 BILLION RUPEES

• SEPT-QUARTER NET NPA 0.99%

Source text for Eikon: ID:nBSE9mvYY3

Further company coverage: JANA.NS

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Sept 17 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK LTD - RECEIPT OF REGISTRATIONS UNDER BANKERS TO ISSUE

Source text for Eikon: ID:nBSE34kTZP

Further company coverage: JANA.NS

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** Shares of Jana Small Finance Bank JANA.NS down 5.7% to 655 rupees

** Co's Q1 gross non-performing assets as a share of total assets worsened to 2.62% from 2.11% in Q4; net profit fell 47% QoQ but nearly doubled Y/Y

** Stock on track for worst day in a month

** JANA is first small finance bank to report its Q1 results

** Larger private lender HDFC Bank HDBK.NS beat Q1 estimates, after which shares rose

** Nifty Bank index .NSEBANK, which JANA is not part of, down 0.2%

** JANA up ~58% from IPO issue price of 414 rupees; it debuted trade on Feb. 14

** Bank index, HDBK up ~15% and ~17% respectively in the same period

(Reporting by Varun Vyas in Bengaluru)

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July 22 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK LTD JUNE-QUARTER NET PROFIT 1.71 BILLION RUPEES

• JANA SMALL FINANCE BANK LTD JUNE-QUARTER GROSS NPA 2.62%

• JANA SMALL FINANCE BANK LTD JUNE-QUARTER INTEREST EARNED 11.67 BILLION RUPEES

• JANA SMALL FINANCE BANK LTD JUNE-QUARTER PROVISIONS AND CONTINGENCIES 1.96 BILLION RUPEES

• JANA SMALL FINANCE BANK LTD JUNE-QUARTER NET NPA 0.99%

Source text for Eikon: [ID:]

Further company coverage: JANA.NS

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** Shares of Jana Small Finance Bank JANA.NS rise as much as 15.4% to hit all-time high of 577.20 rupees; last up 12.9%

** Co posts nearly four-fold surge in Q4 profit, helped by strong loan growth and improved asset quality

** Stock up nearly 41% since making market debut in February

** JANA has outperformed other small finance bank rivals; AU Small Finance Bank AUFI.NS, Ujjivan Small Finance Bank UJJI.NS, Equitas Small Finance Bank EQUI.NS which are down between 19%-5% YTD

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

April 29 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• MARCH-QUARTER NET PROFIT 3.22 BILLION RUPEES VERSUS 810 MILLION RUPEES

• MARCH-QUARTER INTEREST EARNED 11.11 BILLION RUPEES VERSUS 8.49 BILLION RUPEES

• MARCH-QUARTER GROSS NPA 2.11% VERSUS 2.19% PREV QUARTER

• MARCH-QUARTER NET NPA 0.56% VERSUS 0.71% PREV QUARTER

• MARCH-QUARTER PROVISIONS AND CONTINGENCIES 1.75 BILLION RUPEES VERSUS 2 BILLION RUPEES

Further company coverage: JANA.NS

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March 20 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• INCOME TAX DEPARTMENT RAISED A DEMAND OF 762.3 MILLION RUPEES

• DISPUTED DEMAND AGAINST BANK STANDS NULLIFIED AFTER COURT ORDER

• WOULD BE FILING AN APPEAL RELATING TO DISALLOWANCE OF 250.3 MILLION RUPEES

Source text for Eikon: ID:nBSE2b3cB1

Further company coverage: JANA.NS

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Feb 28 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• DVARA MONEY, JANA SMALL FINANCE BANK PARTNER TO FACILITATE DIGITAL BANKING

Further company coverage: JANA.NS

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Feb 22 (Reuters) - Jana Small Finance Bank Ltd JANA.NS:

• JANA SMALL FINANCE BANK DEC-QUARTER NET PROFIT 1.35 BILLION RUPEES VERSUS PROFIT 1.19 BILLION RUPEES

• JANA SMALL FINANCE BANK DEC-QUARTER GROSS NPA 2.19%

• JANA SMALL FINANCE BANK DEC-QUARTER INTEREST EARNED 10.38 BILLION RUPEES VERSUS 8.09 BILLION RUPEES

• JANA SMALL FINANCE BANK DEC-QUARTER PROVISIONS AND CONTINGENCIES 1.61 BILLION RUPEES VERSUS 1.66 BILLION RUPEES

• JANA SMALL FINANCE BANK DEC-QUARTER NET NPA 0.71%

Source text for Eikon: ID:nBSE5vNJN4

Further company coverage: JANA.NS

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