Purple Finance Limited has made a regulatory disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the acquisition of Saksham Gram Credit Private Limited.

Acquisition Details

  • The Board of Directors approved the acquisition of Saksham Gram Credit Private Limited as a wholly owned subsidiary
  • Deal value: ₹99 Crore
  • Acquisition approved at Board meeting held on August 06, 2026
  • The acquisition represents a significant step in the company's growth journey and reflects commitment towards expanding financial inclusion

Preferential Allotment

  • Board approved preferential allotment of approximately 1.4 crore equity shares
  • Issue price: ₹72 per share
  • Total aggregate amount: approximately ₹101 crore
  • Subject to completion of necessary regulatory approvals

Strategic Impact and Expansion

  • Post-acquisition branch network will expand from over 50 branches to nearly 200 branches
  • Geographic expansion across 12 states
  • Strengthened distribution network across Tier II, Tier III and Tier IV markets
  • Establishes strategic foothold in Southern India
  • Strengthens readiness for long-term aspiration of becoming a Small Finance Bank

Target Company Profile

Saksham Gram Credit Private Limited:

  • Founded in December 2019
  • Leading Business Correspondent providing services to banks and NBFCs
  • Facilitates microfinance, unsecured business loans and secured business loans
  • Primarily serves rural and semi-urban markets
  • Operational network: 147 branches across 10 states covering 74 districts
  • Supported by over 31,000 microfinance centers
  • Workforce: approximately 900 employees

Company Background

Purple Finance Limited is registered with the Reserve Bank of India as a non-deposit taking NBFC. The company forayed into retail secured lending in 2022 when three seasoned professionals partnered with founder Amitabh Chaturvedi to transform Purple Finance into a digital-first, MSME-focused lender. The founding team brings over 125 years of combined leadership experience from leading financial services institutions.