Purple Finance Limited has approved the acquisition of Saksham Gram Credit Private Limited as a wholly owned subsidiary for a deal value of ₹99 crore, marking a significant expansion into rural and semi-urban markets. The transaction is designed to deepen the company’s distribution network across Tier II, Tier III, and Tier IV markets while establishing a strategic foothold in Southern India. This move aligns with the company’s long-term aspiration to transform into a Small Finance Bank.

The Board of Directors approved the acquisition during a meeting held on August 06, 2026. In the same session, the Board sanctioned a preferential allotment of approximately 1.4 crore equity shares at an issue price of ₹72 per share. The allotment aggregates to approximately ₹101 crore and is subject to the completion of necessary regulatory approvals. The company issued this intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Upon completion of the transaction, Purple Finance will significantly expand its national footprint. The branch network is expected to grow from over 50 branches to nearly 200 branches across 12 states. This expansion leverages Saksham Gram’s existing infrastructure, which includes 147 branches across 10 states, covering 74 districts. The target entity operates through more than 31,000 microfinance centres supported by a workforce of approximately 900 employees.

Saksham Gram Credit Private Limited, founded in December 2019, operates as one of India’s leading Business Correspondents. It provides services to banks and non-banking financial companies (NBFCs), facilitating microfinance, unsecured business loans, and secured business loans. The acquisition allows Purple Finance to integrate these capabilities directly, enhancing its service delivery in underserved regions.

Purple Finance Limited is registered with the Reserve Bank of India as a non-deposit taking NBFC. The company entered retail secured lending in 2022 when Three Seasoned Professionals partnered with founder Amitabh Chaturvedi to transition the firm into a digital-first, MSME-focused lender. The founding team brings over 125 years of combined leadership experience from leading financial services institutions.

Deal Highlights

Strategic Implications

The acquisition addresses a key growth vector for Purple Finance by rapidly scaling its physical presence without building infrastructure from scratch. By integrating Saksham Gram’s 147 existing branches and 31,000 microfinance centres, the company can immediately access established customer relationships in rural markets. This scale supports the operational density required for a potential Small Finance Bank license, where wide geographic coverage and deep local penetration are critical regulatory and business prerequisites. The simultaneous capital raise via preferential allotment suggests the company is preparing its balance sheet to support this expanded asset base.

Purple Finance Ltd has informed BSE Limited of an upcoming Board of Directors meeting scheduled for Thursday, August 06, 2026, at the company's Corporate Office in Mumbai. The intimation was filed pursuant to Regulation 29 and Regulation 50 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was signed by Company Secretary and Compliance Officer Ruchi Nishar on July 30, 2026.

Fund Raising Proposal Under Consideration

The primary agenda of the board meeting is to consider and evaluate a proposal for fund raising through the issuance of securities. The company has outlined several instruments and modes being considered, as detailed below:

Member Approval and Postal Ballot

Purple Finance has also stated its intent to seek member approval for the fund raising proposal, if required. The company indicated that such approval may be obtained through a Postal Ballot or an Extraordinary General Meeting (EGM), with further details to be intimated in due course.

Trading Window Closure

In accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's own Code of Conduct, the trading window for dealing in the securities of Purple Finance will remain closed for insiders and any other applicable persons. The closure will remain in effect until the expiry of 48 (Forty-Eight) hours after the conclusion of the Board Meeting.