Purple Finance Rights Issue Date, Price, Allotment, Entitlement

0

Last updated on October 3, 2024

Purple Finance Rights Issue

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.

Purple Finance Rights Issue Dates

Promoters of Purple Finance – Amitabh Chaturvedi, Minal Chaturvedi, Abhishek Chaturvedi, Asher Foods Private Limited, and Saguna Mercantile Private Limited


Purple Finance Rights Issue Details

Purple Finance Rights Issue Date4 – 11 October 2024
Purple Finance Rights Issue PriceINR 40 per share
Issue Size (in Shares)1,12,04,985 shares
Issue Size (in INR)INR 44.82 crore
Issue Entitlement1 equity shares for every 3 equity shares held on record date
Terms of PaymentFully payable at the time of application
Purple Finance Rights Issue Record Date26 September 2024
Face ValueINR 10 per share
Listing OnBSE

Purple Finance Rights Issue Calculation

Purple Finance Rights Issue PriceINR 40 per share
Market Price on Rights Issue ApprovalINR 85.69 per share
Dilution Factor (X)1.33
Fair Value After Dilution at Prevailing PriceINR 74.27 per share

Purple Finance Financial Performance

 FY 2023FY 2024
Revenue2.564.44
Expenses7.9715.47
OPM (%)(211.33)(248.42)
Net income(6.33)(7.61)
ROCE (%)–(26.52)
Figures in INR Crores unless specified otherwise

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 Dates

Rights Issue Approval Date20 September 2024
Rights Issue Record Date26 September 2024
Credit of Rights Entitlement1 October 2024
Rights Issue Opening Date4 October 2024
Last Date for Market Renunciation8 October 2024
Rights Issue Closing Date11 October 2024
Finalization of Basis of Allotment17 October 2024
Rights Allotment Date18 October 2024
Credit Date 22 October 2024
Listing Date23 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: [email protected]
Website: 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: +91 022 4961 4132/ 31998810 / 4970 0138
Email: [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: 022-69165100
E-mail: [email protected]
Website: 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here