To strengthen the top management team, Jana Small Finance Bank today announced the appointment of Buvanesh Tharashankar as its President and Chief Financial Officer under the category of Key Managerial Personnel.
Buvanesh Tharashankar will be instrumental in providing strategic and long-term financial direction to Jana SFB’s business and will work closely with others in the organization’s leadership team to streamline business processes, working capital management and business strategy, optimize revenue and minimize costs.
A Citibank veteran of 26 years, Buvanesh has worked across a wide spectrum of roles within the finance function in multiple geographies. Buvanesh is a qualified Chartered Accountant and received his Bachelors in Commerce from Mumbai University.
Speaking on his appointment, Mr Ajay Kanwal, MD and CEO of Jana Small Finance Bank, said, “On behalf of Jana Small Finance Bank family, I welcome Buvanesh to our senior leadership team. Buvanesh brings a wealth of experience in management and governance of the finance function at senior levels and the acumen needed at Jana SFB.”
About Jana Small Finance Bank:
Jana Small Finance Bank Limited (Jana Small Finance Bank) is one of the leading Small Finance Banks of India in terms of assets under management and deposit size as at March 31, 2020, as per the report titled ‘Overview of Banking Sector in India’ dated March 12, 2021, issued by IRR Advisory (“IRR Report”). Jana Small Finance Bank has the second most geographically diversified portfolio with a pan-India presence among all Small Finance Banks in India as at March 31, 2020 (Source: IRR Report). As at February 28, 2021, Jana Small Finance Bank had 611 Branches, including 166 Branches in Unbanked Rural Centres, and 134 ATMs located in 229 districts in 19 states and three union territories. Jana Small Finance Bank has served over 8.00 million customers since 2008, including approximately 3.05 million active customers.
Jana Small Finance Bank Limited (the “Bank”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs i.e. Axis Capital Limited, ICICI Securities Limited and SBI Capital Markets Limited at www.axiscapital.co.in, www.icicisecurities.com and www.sbicaps.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Bank and that will contain detailed information about the Bank and management, as well as financial statements. However, no public offering of securities is being made in the United States.