Purple Finance Limited , a prominent player in the financial services sector, has announced significant changes in its shareholding structure and board composition. The company's Board of Directors has approved several key decisions that are set to reshape its corporate governance landscape.

Reclassification of Promoter Group Members

In a move that could potentially alter the company's ownership structure, Purple Finance's Board has given the green light for the reclassification of 10 members from the 'Promoter/Promoter Group' category to the 'Public' category. This decision affects shareholders who collectively hold 51,04,122 shares, representing 9.37% of the company's total shareholding.

The shareholders seeking reclassification include:

It's important to note that this reclassification is subject to shareholder approval and consent from the stock exchanges. Purple Finance has already filed an application with BSE Limited seeking no objection for this status change.

New Board Appointment

In another significant development, the Board has approved the appointment of Mr. Sandeep Jindal as a Non-Executive Non-Independent Director, subject to approval from the Reserve Bank of India (RBI). Mr. Jindal brings with him over 25 years of experience in strategic, operational, and business leadership, particularly in NBFCs, securities, and capital markets.

Technological Advancement

Purple Finance is also making strides in technological innovation. The Board has approved the development of an in-house Loan Origination System (LOS) software in collaboration with Techbulls SoftTech Private Limited. This project, estimated to cost approximately 85.00 lakh rupees plus applicable taxes, is expected to enhance the company's operational control and process efficiency.

Fund Raising Plans

Looking ahead, Purple Finance has set its sights on expansion. The Board has approved a proposal to raise funds up to 100.00 crore rupees through various means, including the issuance of equity shares, convertible securities, or a combination thereof. This move is aimed at fueling the company's growth plans and strengthening its financial position.

These developments mark a significant shift in Purple Finance's corporate structure and strategy. As the company awaits necessary approvals and implements these changes, stakeholders will be keenly watching how these moves impact its future growth trajectory and market position.

Purple Finance Limited (PFL) has announced a crucial board meeting scheduled for August 14, 2025, to explore various fund-raising avenues. The company's board of directors will convene at 4:00 p.m. to deliberate on proposals for raising capital through multiple instruments.

Fund Raising Proposals

The board will consider raising funds through the following methods:

• Equity shares
• Debentures
• Other securities

The company is exploring various mechanisms for fund-raising, including:

1. Rights issue
2. Qualified institutions placement
3. Preferential issue
4. Any other permissible methods under applicable laws

All proposals will be subject to necessary regulatory and statutory approvals.

Trading Window Closure

In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, PFL has announced the closure of the trading window for insiders. The window will remain closed until 48 hours after the conclusion of the board meeting.

Recent Corporate Actions

Purple Finance Limited has been involved in significant corporate actions recently:

1. Withdrawal of an application for reclassification of a shareholder, Ms. Sonal Vira, from the "Promoter/Promoter Group" category to the "Public" category.

2. Opening of a special window for re-lodgement of transfer requests for physical shares, in line with SEBI regulations. This window is open from July 7, 2025, to January 6, 2026, allowing eligible investors to re-submit their transfer requests that were rejected or returned due to document deficiencies prior to April 1, 2019.

3. Approval of a merger by absorption scheme between Canopy Finance Limited and Purple Finance Limited by the National Company Law Tribunal (NCLT), Mumbai Bench, on February 15, 2024.

These developments indicate that Purple Finance Limited is actively managing its corporate structure and shareholder relations while exploring options to strengthen its capital base.

Investors and stakeholders will be keenly watching the outcome of the upcoming board meeting, as the fund-raising decisions could have significant implications for the company's future growth and expansion plans.