business ๐ฆ Federal Bank talks to buy Jana SFB
Federal Bank is reportedly in advanced talks to acquire Jana Small Finance Bank, which could force an open offer for its shareholders. This potential deal involves Jana SFB's promoter selling their entire 16.9% stake to Federal Bank. The current situation stems from Jana SFB's promoter facing difficulties repaying a โน700 crore loan to TPG Asia. Federal Bank is interested due to Jana SFB's high-yield book and geographic reach across 23 states. Further updates are awaited regarding the final deal terms and stock market reaction.