Purple Finance Rights Issue is scheduled on 4 – 11 Oct 2024
Purple Finance took a bold step into retail MSME-secured lending, focusing on entrepreneurs in tier II, III, and IV cities. Catering to micro and small businesses, they provide loans ranging from INR 3 lakh to INR 30 lakh. With 25 branches already established, Purple Finance has positively impacted over 2,000 lives, leveraging cutting-edge technology to offer affordable, timely, and sufficient credit.
As of August 2024, Purple Finance has 109 Relationship Managers stationed in branch offices and 422 external DSAs/Connectors serving as key touchpoints. The company primarily operates in semi-urban areas and Tier III and Tier IV cities. Since its launch, PFL has extended loans totaling INR 45 crore to nearly 800 clients. Each loan is backed by either self-occupied residential or commercial properties. Leveraging cutting-edge technology, PFL ensures seamless lending experiences for its customers.
As of now, the company employs approximately 216 people. By 30 June 2024, out of 750 borrowers, only one case has been classified as a Non-Performing Asset (NPA), amounting to INR 6.41 lakhs.
Promoters of Purple Finance – Amitabh Chaturvedi, Minal Chaturvedi, Abhishek Chaturvedi, Asher Foods Private Limited, and Saguna Mercantile Private Limited
Table of Contents
Purple Finance Rights Issue Details
| Purple Finance Rights Issue Date | 4 – 11 October 2024 |
| Purple Finance Rights Issue Price | INR 40 per share |
| Issue Size (in Shares) | 1,12,04,985 shares |
| Issue Size (in INR) | INR 44.82 crore |
| Issue Entitlement | 1 equity shares for every 3 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Purple Finance Rights Issue Record Date | 26 September 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE |
Purple Finance Rights Issue Calculation
| Purple Finance Rights Issue Price | INR 40 per share |
| Market Price on Rights Issue Approval | INR 85.69 per share |
| Dilution Factor (X) | 1.33 |
| Fair Value After Dilution at Prevailing Price | INR 74.27 per share |
Purple Finance Financial Performance
| Â | FY 2023 | FY 2024 |
| Revenue | 2.56 | 4.44 |
| Expenses | 7.97 | 15.47 |
| OPM (%) | (211.33) | (248.42) |
| Net income | (6.33) | (7.61) |
| ROCE (%) | – | (26.52) |
Purple Finance Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objective
- Augmenting the capital base – INR 31.82 crore
- General Corporate Purposes – INR 10.10 crore
Purple Finance Rights Offer Documents
- Purple Finance Rights Issue Application Form
- Purple Finance Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Purple Finance Rights Issue Dates
| Rights Issue Approval Date | 20 September 2024 |
| Rights Issue Record Date | 26 September 2024 |
| Credit of Rights Entitlement | 1 October 2024 |
| Rights Issue Opening Date | 4 October 2024 |
| Last Date for Market Renunciation | 8 October 2024 |
| Rights Issue Closing Date | 11 October 2024 |
| Finalization of Basis of Allotment | 17 October 2024 |
| Rights Allotment Date | 18 October 2024 |
| Credit Date | 22 October 2024 |
| Listing Date | 23 October 2024 |
Purple Finance Rights Offer Lead Manager
MARK CORPORATE ADVISORS PRIVATE LIMITED
404/1, The Summit Business Bay, Sant Janabai Road (Service Lane),
Off W. E. Highway, Vile Parle (East), Mumbai-400 057. Maharashtra
Phone: +91 22 2612 3207 / 22 2612 3208
Email:Â [email protected]
Website:Â www.markcorporateadvisors.com
Purple Finance Rights Offer Registrar
PURVA SHAREGISTRY (INDIA) PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J.R. Boricha Marg, Lower
Parel (East) Mumbai-400011, Maharashtra India
Phone:Â +91 022 4961 4132/ 31998810 / 4970 0138
Email:Â [email protected]
Website: www.purvashare.com
Purple Finance Issue Contact Details
PURPLE FINANCE LIMITED
705/706, 7th Floor, Hallmark Business Plaza,
Opposite Gurunanak Hospital, Bandra East, Mumbai – 400 051
Phone:Â 022-69165100
E-mail: [email protected]
Website:Â www.purplefinance.in
Purple Finance Rights Offer FAQs
What is the Purple Finance Rights Issue Price?
The issue price is INR 40 per share.
What is the Purple Finance Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 3 Equity Shares held on the record date.
What is the Purple Finance Rights Issue Record Date?
The Record date is 26 September 2024.
How to Apply in Purple Finance Rights Offer?
The best way to apply in Purple Finance Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
