TVS Motor Company has successfully completed the acquisition of a 4.90% stake in Jana Small Finance Bank Ltd. The transaction, which was approved by the Investment Committee of the Board of Directors on May 18, 2026, was finalized on May 22, 2026. The company now holds 51,60,903 equity shares, representing 4.90% of the bank's paid-up share capital, following the execution of the Share Purchase Agreement with Jana Holdings Limited.

Acquisition Details

The purchase was settled through cash consideration amounting to INR 193,31,19,436.71. The transaction is not classified as a related party transaction for TVS Motor Company. Key details of the completed acquisition are outlined below:

Strategic Rationale

The investment aims to provide better insight into the banking ecosystem and facilitate mutual collaboration for the long-term success of Jana Small Finance Bank. This acquisition is part of TVS VENUS's broader strategy to acquire up to 9.9% equity ownership in the bank on a fully diluted basis. Additionally, GWC Family Fund Investments Pte. Ltd., a body corporate controlled by a member of the TVS Motor Company promoter group, proposes to subscribe to 68,29,909 share warrants of the bank, subject to applicable approvals.

About Jana Small Finance Bank

Jana Small Finance Bank Ltd is the fourth largest Small Finance Bank in India in terms of assets under management and deposit size. As of March 31, 2026, the bank operates across 822 outlets in 23 states and 2 Union Territories, serving over 12 million customers. For FY 2025-26, the bank reported a total income of INR 6,374.76 crores, a profit after tax of INR 326.43 crores, and a net worth of INR 4,215.50 crores.

TVS Motor Company has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Ravindran Shanmugam as a Non-Executive Independent Director. The appointment is proposed for a tenure of five consecutive years, effective May 13, 2026. The company has engaged National Securities Depository Limited (NSDL) to facilitate the electronic voting process.

Director Profile and Expertise

Mr. Ravindran Shanmugam is a technology entrepreneur and business leader with over a decade of experience in digital transformation and AI-led platforms. He currently serves as the Co-founder and Executive Chairman of Mable, an AI-enabled interior design platform based in Singapore. Previously, he was the Chief Executive Officer of Livspace Southeast Asia and held senior leadership roles at Grab and McKinsey & Company. He holds a Bachelor's Degree in Philosophy, Politics, and Economics from the University of Oxford.

Appointment Details

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has appointed Mr. Shanmugam subject to shareholder approval. The key details of the proposed appointment are as follows:

Postal Ballot and Voting Schedule

Shareholders are requested to cast their votes through the electronic voting (e-Voting) system. The voting period commences on May 22, 2026, and concludes on June 20, 2026. The results of the postal ballot will be announced on or before June 22, 2026. The resolution requires approval by way of a special resolution.

Mr. Shanmugam is entitled to receive remuneration by way of profit-related commission, subject to regulatory limits, along with sitting fees and reimbursement of expenses for board and committee meetings. The company confirmed that he is not related to any other director or key managerial personnel.