Jana Small Finance Bank has approved the allotment of 88,43,000 warrants to five investors through a preferential issue. These warrants grant the right to subscribe to one fully paid-up equity share each. The company also noted an application from GWC Family Fund Investments Pte. Ltd. for 68,29,909 warrants, pending RBI approval. Investors have already paid approximately ₹102.76 crore towards the allotment.
Preferential Issue of Warrants Approved
Jana Small Finance Bank Limited has announced the approval of the allotment of 88,43,000 warrants. These warrants, each carrying the right to subscribe to one fully paid-up equity share of the company, are being issued through a preferential issue on a private placement basis. This move aligns with the provisions of the Companies Act, 2013, and relevant SEBI regulations.
Key Investors in the Allotment
The warrants are being allotted to a select group of investors, including:
- Capri Global Ventures Private Limited: 10,20,923 warrants
- 2i Capital PCC: 55,25,000 warrants
- ICM Finance Private Limited: 10,20,923 warrants
- Singularity Large Value Fund III: 10,20,923 warrants
- Utpal Hemendra Sheth: 2,55,231 warrants
Additional Warrant Application Noted
The company has also been informed that GWC Family Fund Investments Pte. Ltd. has applied to the Reserve Bank of India (RBI) for approval to subscribe to 68,29,909 warrants. The allotment of these warrants to GWC is contingent upon RBI’s approval of the investment and will adhere to the timelines stipulated by the ICDR Regulations.
Financial Aspects of the Transaction
As of the date of the allotment of the Subscription Warrants, the investors have collectively paid an amount of approximately INR 102,76,00,818.00 to Jana Small Finance Bank. The remaining balance is expected to be paid upon the exercise and conversion of these warrants, as per the terms of the securities subscription agreement and the ICDR Regulations.
Listing of Equity Shares
The equity shares of the company that will be issued upon the conversion of these allotted Subscription Warrants are intended to be listed on both the BSE Limited and the National Stock Exchange of India Limited, in accordance with applicable laws.
Source: BSE
