Purple Finance has scheduled its Extraordinary General Meeting (EGM) for Monday, August 31, 2026, at 11:00 A.M. (IST). The meeting will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with the Companies Act, 2013, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This action requires shareholders to update their contact details and cast votes before the specified deadlines to ensure their participation in the corporate governance process.

The company issued the notice on August 07, 2026, pursuant to Regulation 30 read with Part A of Schedule III, and Regulations 47 and 51 of the SEBI LODR Regulations, 2015. Newspaper advertisements regarding the meeting were published in Financial Express (English) and Mumbai Lakshdeep (Marathi). The notice was circulated electronically to members with registered email addresses, while those without registered emails were instructed to update their details via Purva Share Registry (India) Private Limited or their Depository Participants.

Shareholders are provided with a facility for remote e-voting through Purva Share Registry (India) Private Limited. The voting window is strictly defined, beginning at 9:00 A.M. (IST) on Thursday, August 27, 2026, and ending at 5:00 P.M. (IST) on Sunday, August 30, 2026. The remote e-voting module will be disabled immediately after the expiry of this period. Members who have not cast their votes remotely will have the option to vote electronically during the EGM.

Eligibility to vote or attend the EGM is determined by the cut-off date of Monday, August 24, 2026. Only individuals whose names appear in the Register of Members as of this date are entitled to avail themselves of the remote e-voting facility or to vote at the EGM. Members attending the meeting via VC/OAVM will be counted towards the quorum under Section 103 of the Companies Act, 2013. Those who have already voted remotely may attend the meeting but cannot vote again.

Members holding shares in physical mode who have not registered their email addresses are requested to do so with Purva. For demat holders, updates must be made with their respective Depository Participants. The company also allows members to update email addresses for the limited purpose of receiving the EGM notice by emailing compliance@purplefinance.in with signed scanned copies of request letters, PAN copies, and folio details. Documents referred to in the notice are available for electronic inspection from the date of circulation until the date of the EGM.

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.