Purple Finance Limited has opened an offer to acquire up to 26% of its equity shares at a price of ₹55 per share. The offer, made by Allied Commodities Private Limited and Mr. Sandeep Jindal along with Persons Acting in Concert (PACs), aims to establish joint control over the company. The tendering period for the offer is scheduled from July 01, 2026, to July 14, 2026. The Committee of Independent Directors (IDC) has reviewed the offer and recommended it as fair and reasonable in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The open offer targets 1,76,48,152 fully paid-up equity shares, representing 26.00% of the Emerging Voting Capital. The total consideration for the offer, assuming full acceptance, amounts to ₹97,06,48,360. The Reserve Bank of India has granted prior approval for the proposed acquisition and change in control via letter No. CO.DOR.HGG.No.S1930/16-80-001/2026-2027 dated June 03, 2026. The acquirers have deposited ₹3,50,00,000 in a cash escrow account with Yes Bank Limited and transferred securities valued at ₹31,23,89,733.90 to a demat escrow account.

Offer and Financial Details

The offer is unconditional and not subject to any minimum level of acceptance. Mark Corporate Advisors Private Limited is acting as the Manager to the Offer, while Purva Sharegistry (India) Private Limited serves as the Registrar. The Offer Opening Public Announcement was published on June 30, 2026, in Business Standard (English and Hindi) and Navshakti (Marathi).

Governance and Approvals

The IDC, comprising Mr. Rajan Chandrakant Bhat (Chairman), Mr. Ajay Kumar Pandey, Ms. Sumeet Sandhu, and Mr. Amit Sonawala, approved the recommendation on June 23, 2026. The committee confirmed that none of its members hold any equity shares or have any contractual relationships with the target company, acquirers, or PACs. The Letter of Offer was dispatched to shareholders on June 23, 2026. The acquirers currently hold 19.18% of the Emerging Voting Capital and intend to cross 25.00% through this open offer.

Purple Finance Limited’s Finance Committee has approved the sale of a portion of its loan portfolio worth up to Rs 23.00 crores to enhance income generation. The decision, taken on June 29, 2026, involves transactions under the Direct Assignment route in compliance with the Reserve Bank of India's Master Direction regarding the transfer of loan exposures. The move is expected to be income accretive and demonstrates the company's capability to originate a quality loan portfolio.

Under the arrangement, the participation ratio between the assignees and purple finance is set at 90:10. The company will retain a 10% stake in the assigned loans while continuing to act as the servicer for all loans transferred under these agreements. This structure allows the company to maintain its relationship with borrowers while freeing up capital.

The sale was approved pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transactions adhere to the Master Direction – Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021, as amended from time to time.