India Ratings affirms Jana Small Finance Bank's subordinate debt ratings

Jana Small Finance Bank Limited announced that India Ratings and Research has affirmed its credit ratings for various debt instruments as of October 9, 2025. The unutilised non-convertible debentures have been assigned an IND A/Stable rating.

Existing non-convertible debentures (INE953L08329 and INE953L08311) have had their IND A/Stable ratings reaffirmed. Specifically, INE953L08329, issued on December 22, 2015, with a 13.8% coupon rate and maturing on July 7, 2027, has an outstanding amount of INR750.00 million. INE953L08311, issued on August 31, 2021, with a 13.5% coupon rate and maturing on November 30, 2026, has an outstanding amount of INR500.00 million.

Additionally, a fixed deposit instrument with a value of INR200,000 million also had its IND A/Stable rating affirmed. The unutilised non-convertible debentures represent INR2,500 million. The bank confirmed that the rating rationale is annexed to the letter and will be available on its website.