Acquirers Announce Open Offer for Purple Finance Ltd: Aiming to Acquire Stake and Joint Control

Acquirers Announce Open Offer for Purple Finance Ltd: Aiming to Acquire Stake and Joint Control​

The open offer for acquiring equity shares of Purple Finance Limited was announced on June 30, 2026. The offer has been launched by Allied Commodities Private Limited and Mr. Sandeep Jindal, along with a group of Public Announcement Committees (PACs), targeting eligible equity shareholders of the company.

Under the terms of the open offer, the Acquirers and PACs are seeking to acquire up to 176,48,152 fully paid-up equity shares of Purple Finance Limited. Each share carries a face value of ₹10, and the fixed Offer Price for the acquisition is set at ₹55.00 per Equity Share, payable in cash. This transaction represents an acquisition of up to 26.00% of the Emerging Voting Capital of the Target Company.

The Committee of Independent Directors (IDC) of Purple Finance Limited issued a recommendation on the open offer, stating that the Offer Price is fair and reasonable from the perspective of the regulatory pricing framework applicable to the Open Offer. The IDC's conclusion was based on the Public Announcement dated February 06, 2026, the Detailed Public Statement dated February 13, 2026, and the Letter of Offer dated June 20, 2026.

Shareholding and Intent​

The acquisition aims for the Acquirers and PACs to attain a substantial stake in Purple Finance Limited, leading to joint control over the company alongside the existing Promoter/Promoter Group.

Currently, the Acquirers and the PACs hold 19.18% of the Emerging Voting Capital (including convertible warrants held by PAC 2) and intend to increase this holding beyond 25.00% through this open offer. Similarly, PAC 3 currently holds 9.67% of the Emerging Voting Capital and intends to increase his holding above 5.00%.

Among the participating entities are Allied Commodities Private Limited (Acquirer 1) and Mr. Sandeep Jindal (Acquirer 2). The PACs include Intellect Stock Broking Limited, Intellect Money Finvest Private Limited, Mr. Amitabh Chaturvedi, and AC Enterprises Private Limited. These organizations have significant experience in financial services and broking activities within the industry.

Financial Commitments and Timelines​

The transaction is supported by a commitment of securities transferred by the Acquirers and PACs amounting to ₹31,23,89,733.90 (net of 32% margin) being 32.18% of the maximum consideration. These securities were deposited into a Demat Escrow Account on February 10, 2026.

The details of the securities held in the escrow account are as follows:


The Schedule of Activities indicates that the Identified Date was set for June 16, 2026. The Letter of Offer was scheduled to be dispatched to Eligible Equity Shareholders on June 23, 2026. The Tendering Period is slated to commence on July 01, 2026, and conclude on July 14, 2026.

Prior approval for the proposed acquisition and change in control of Purple Finance Limited was granted by the Reserve Bank of India (RBI) on June 03, 2026.

Stock Price Movement​

As of 15:24, Purple Finance Ltd is ticking up by 1.37%, with the shares currently priced at ₹65.11. The stock traded throughout the day within an intraday range that spanned from a low of ₹63.10 to its high of ₹65.11.