Purple Finance Limited announced that Mr. Ajay Kumar Pandey ceased to be an Independent Director of the company effective June 27, 2026, upon the completion of his term. This change in management was intimated to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Consequent to the cessation of his directorship, Mr. Pandey also stepped down from his positions as Chairman of the Audit Committee and the Stakeholders’ Relationship Committee. Additionally, he ceased to be a Member of the Nomination & Remuneration Committee.

The company confirmed that despite this departure, the constitution of its committees continues to be in compliance with the applicable provisions of the SEBI LODR Regulations. The disclosure was signed by Ruchi Nishar, Company Secretary & Compliance Officer.

The following table details the change in management:

Purple Finance has allotted 1,26,00,000 equity share warrants on a preferential basis at an issue price of ₹55 per warrant, aggregating to ₹69.30 crore. The Finance Committee approved the allotment during a meeting held on June 15, 2026. The warrants are convertible into an equivalent number of fully paid-up equity shares with a face value of ₹10 each, inclusive of a premium of ₹45 per warrant.

The company has received 25% of the aggregate issue amount, totaling ₹17,32,50,000, in accordance with SEBI ICDR Regulations. The balance amount is payable upon the exercise of warrants by the holders, which must occur after six months and within 18 months from the date of allotment. The warrants are subject to lock-in periods as per applicable regulations.

Allotment Details

The preferential allotment was made to eight investors, including promoters and non-promoters. Mr. Sandeep Jindal, classified as a non-promoter in this allotment, will be designated as a promoter of the company upon the completion of the ongoing open offer. The warrants are allotted in electronic form and rank pari passu with existing equity shares upon conversion.

Conversion Terms

Warrant holders may exercise the conversion option in one or more tranches on or before the completion of 18 months from the date of allotment. If holders fail to exercise the conversion within this period, the entitlement to conversion will lapse, and the upfront consideration paid will be forfeited. The company will intimate the exchange upon the conversion of the warrants. As the warrants are yet to be converted, there is no immediate change in the paid-up equity share capital of Purple Finance.