Reacting to reports that a deal between Federal Bank Ltd (FBL) and Jana Small Finance Bank (Jana SFB) is likely in advanced stages, the former on Tuesday said it evaluates various opportunities in the ordinary course for growth and expansion of its business.“We clarify that there is no material event/information that requires disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,” per Federal Bank’s regulatory filing.Referring to Blackstone, one of the world’s pre-eminent investment firms, choosing to invest about ₹6,196 crore to acquire up to 9.99 per cent stake in Federal Bank, market players say given this “capital fire power”, a deal with Jana SFB could indeed be in the works.“There is no smoke without fire. And an acquisition by FBL is within the realm of possibility,” said an analyst.In September 2006, Federal Bank acquired Ganesh Bank of Kurundwad (GBoK), which was founded in 1920. The latter had 32 branches, situated principally in districts of Kolhapur and Sangli of Maharashtra and the adjoining Belgaum District of Karnataka. GBoK’s total assets as on March 31, 2005 were at ₹235.44 crore as against total liabilities of ₹220.45 crore.S&P Global Ratings recently observed that Federal Bank’s preferential issue of warrants to Blackstone will support the bank’s above average growth plans of 14-16 per cent over the next two years.It noted that Blackstone-managed funds have agreed to purchase 9.99 per cent stake in Federal Bank through a preferential issue of warrants of about ₹6,200 crore. The bank received 25 per cent of the committed capital in fiscal 2026 (ended March 31, 2026). The balance of ₹4,200 crore will likely get converted to common equity in fiscal 2028.The bank has the right to call the warrants on an accelerated basis if its regulatory Tier-1 capital ratio falls below 13.5 per cent.In S&P Global Ratings’ view, Federal Bank has sufficient capital buffer to absorb the impact of its acquisition of Standard Chartered India’s credit card portfolio (expected to complete by end 2026) and the transition to expected loss framework in fiscal 2028.Federal Bank shares closed at ₹347.30 apiece, down 2.96 per cent over the previous close of ₹357.90 on BSE.Jana shares closed at ₹570.30 apiece, down 2.04 per cent over the previous close of ₹581.85 on BSE.Published on August 25, 2026