Federal Bank is on the brink of snapping up 16.9% of Jana SFB, with the purchase priced 15–20% above its current trading level.
Sources say the deal will give Federal Bank a controlling interest, while Jana SFB’s promoter, who previously shed 4.9% this fiscal, will see its stake slide to below 9.99% if negotiations succeed.
The transaction is still in final negotiation stages; Federal Bank’s board has reportedly been reviewing expansion options, a stance reiterated in a prior press release that no material event required disclosure yet.
If finalized, the deal could push Jana SFB’s market cap higher and trigger a reclassification to public status, potentially unlocking a new investor base.
Analysts predict the premium could push Jana SFB’s share price up 15–20%, while Federal Bank’s equity may see a modest upside as the takeover completes.
The acquisition is slated for announcement in the next few days, with both banks expected to file definitive agreements before the end of the quarter.