Purple Finance Limited has appointed Mr. Sriram Kalyanaraman and re-appointed Ms. Sumeet Sandhu as Independent Directors for a term of three years, subject to shareholder approval. The appointments, effective June 26, 2026, and June 28, 2026, respectively, were approved by the Board of Directors during a meeting held on June 01, 2026. These changes aim to strengthen the company's governance framework with experienced leadership in banking and financial services.

The board meeting commenced at 03:57 P.M. and concluded at 05:00 P.M. on June 01, 2026. The filings were submitted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The detailed disclosures regarding the appointees are provided in Annexure-A to the intimation.

Mr. Sriram Kalyanaraman (DIN: 09773647) brings over 36 years of experience in banking, housing finance, and retail lending. He previously served as the Managing Director & CEO of the National Housing Bank and has held leadership roles at Standard Chartered Bank, Deutsche Bank AG, and Equifax India. Ms. Sumeet Sandhu (DIN: 10119062) possesses extensive experience in product, portfolio, and sales management across investments and insurance, having worked with organisations such as Karvy Private Wealth and Abu Dhabi Islamic Wealth.

The company confirmed that neither appointee is related to any of the existing directors. Furthermore, both individuals are not debarred from holding the position of director by any SEBI order or other authority, in accordance with Circular No. LIST/COMP/14/2018-19 and NSE/CML/2018/02 dated June 20, 2018. The information is available on the company's website at www.purplefinance.in .

Director Appointments

Purple Finance Limited has outlined its strategy to capitalize on India's unbanked MSME market, which presents a credit gap of $289B. The company, a digitally enabled secured lender for MSMEs, targets micro and small enterprises with annual turnovers up to ₹5 Cr, focusing on tier-3 and tier-4 cities. The firm disclosed these details in an investor presentation submitted to BSE Limited on May 26, 2026, under Regulation 30 and Regulation 51 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

The presentation highlights the significant opportunity within the sector, noting that only 11% of microenterprises have access to credit. Purple Finance aims to bridge this gap through a differentiated strategy that includes a single product focus and 360-degree customer engagement. The company aspires to grow into a small finance bank to serve the underserved segment at scale.

Operational Metrics and Performance

As of March 2026, Purple Finance reported key operational metrics reflecting its growth since inception. The company has maintained a gross NPA of 1.48%, indicating strong asset quality.

The company operates 46 branches across 300 districts with a team of 460+ members. Its geographical footprint includes Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, Odisha, and Uttar Pradesh.

Product and Technology Strategy

Purple Finance offers secured MSME loans up to ₹30 Lakh with a return on investment (ROI) ranging from 18% to 24%. The loans feature a tenor of up to 10 years and flexible repayment schedules. The lender utilizes a tech-enabled model to provide soft approvals in under 5 hours, leveraging digital property due diligence and multi-bureau financial score checks.

The company employs a four-step digital process involving branch sourcing, straight-through processing, fraud containment, and paperless disbursement. This approach is supported by partnerships with technology firms such as Perfios, CRIF, and TransUnion CIBIL to facilitate lean and agile operations.

Customer Profile and Impact

The lender focuses on financial inclusion, requiring that every loan includes a woman as a borrower or co-borrower. Case studies presented indicate a positive impact on borrower income, with one customer profile showing annual income growth from ₹4.2 lakh to ₹9.6 lakh. The company serves sector-agnostic clients including traders, manufacturers, and service providers.