Acquirers and PACs Launch Open Offer for Purple Finance Ltd., Targeting 26% Stake at ₹55 Per Share

Acquirers and PACs Launch Open Offer for Purple Finance Ltd., Targeting 26% Stake at ₹55 Per Share​

Purple Finance Limited, a publicly listed company, is facing an open offer initiated by Allied Commodities Private Limited, Mr. Sandeep Jindal, and various associated Persons Acting in Concert (PACs). The transaction aims to acquire up to 1,76,48,152 fully paid-up equity shares, representing 26.00% of the Emerging Voting Capital of the Target Company.

The offer price for the Equity Shares has been set at ₹55.00 per share, which is payable in cash. The total value of the proposed acquisition amounts to ₹97,06,48,360.

The open offer was launched with a specific timeframe, beginning on Wednesday, July 01, 2026, and closing on Tuesday, July 14, 2026. The Acquirers and PACs have stated that the offer is unconditional and not subject to any minimum level of acceptance.

Offer Details and Participants​

The transaction involves a consortium led by Allied Commodities Private Limited (Acquirer 1) and Mr. Sandeep Jindal (Acquirer 2). The acquisition drive also includes four Persons Acting in Concerts (PACs): Intellect Stock Broking Limited (PAC 1), Intellect Money Finvest Private Limited (PAC 2), Mr. Amitabh Chaturvedi (PAC 3), and AC Enterprises Private Limited (PAC 4).

The proposed acquisition, along with the associated changes of control, received prior approval from the Reserve Bank of India (RBI) as indicated by a letter dated June 03, 2026. The Acquirers confirmed that no other statutory approvals are currently required to complete the Open Offer.

Key details regarding the offer and the Target Company's share structure are summarized below:

Shareholding and Financial Commitments​

As per the details provided in the offer documentation, the Acquirers and PACs have made firm financial arrangements for the implementation of the Open Offer. They opened a Cash Escrow Account with Yes Bank Limited, depositing an aggregate amount amounting to 3.605% of the maximum consideration payable. Furthermore, securities worth ₹31,23,89,733.90 were transferred to a Demat Escrow Account operated by SW Capital Private Limited.

The Acquirers and PACs have certified that they possess adequate financial resources to fulfill their obligations under the Open Offer. The transaction is being conducted in compliance with SEBI (SAST) Regulations, 2011.

Market Perspective​

The rationale behind the offer price was reviewed against various parameters prescribed by SEBI (SAST) Regulations, 2011. One metric considered was the volume-weighted average market price of the Target Company's equity shares for sixty trading days preceding the announcement, which was recorded at ₹51.99.

Share Capital Structure Overview​

The Equity Share Capital Structure of Purple Finance Limited is detailed as follows:


As of the date of the offer, there are 1,81,00,000 outstanding convertible warrants in total. The Acquirers and PACs have indicated that post-completion of the Open Offer formalities, they intend to hold a joint control over Purple Finance Limited along with the existing Promoter/Promoter Group.

Stock Price Movement​

Purple Finance Ltd. settled at ₹65.51, slipping 1.03% in after-hours trading today. The shares moved within a range, hitting an intraday low of ₹64.51 and reaching a high of ₹66.80.