Acquirers Announce Open Offer for Purple Finance Ltd, Targeting 26% Stake at ₹55 per Share

Acquirers Announce Open Offer for Purple Finance Ltd, Targeting 26% Stake at ₹55 per Share​

Purple Finance Limited's stock is set to be acquired in an Open Offer initiated by a consortium of companies and entities. The offer aims to secure substantial stakes and joint control over the Target Company, with the Acquirers intending to strengthen their presence within the financial services sector.

The Open Offer involves Allied Commodities Private Limited (Acquirer 1) and Mr. Sandeep Jindal (Acquirer 2), who are acquiring a portion of Purple Finance Ltd's shares through this mechanism. They have partnered with several Persons Acting in Concert (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 Acquirers and PACs plan to acquire up to 1,76,48,152 fully paid-up equity shares of Purple Finance Ltd, which represents 26.00% of the Emerging Voting Capital of the Target Company. The proposed acquisition is valued at ₹97,06,48,360 and is being offered to Eligible Equity Shareholders at a fixed Offer Price of ₹55.00 per equity share, payable in cash.

The Open Offer period is scheduled to begin on Wednesday, July 01, 2026, and concludes on Tuesday, July 14, 2026.

Transaction Details and Financial Commitment​

The Acquirers and PACs have made firm financial arrangements for the implementation of the Open Offer in terms of the SEBI (SAST) Regulations. The total funds required for the acquisition, assuming full acceptance, is estimated at ₹97,06,48,360.

To secure the transaction, the Acquirers and PACs have opened a Cash Escrow Account with Yes Bank Limited and deposited an initial amount of ₹2,50,00,000, which represents 2.575% of the maximum consideration payable. Furthermore, securities amounting to ₹31,23,89,733.90, or 32.18% of the maximum consideration, have been transferred into a Demat Escrow Account managed by SW Capital Private Limited.

The proposed Offer Price of ₹55.00 has been justified based on several factors examined during the valuation process and is considered in line with regulatory requirements. The offer is unconditional and does not require a minimum level of acceptance from shareholders.

Open Offer Key Highlights​

Strategic Intent of the Acquisition​

The Open Offer is being made with the stated objective of achieving joint control over Purple Finance Limited alongside the existing Promoter/Promoter Group. The Acquirers and PACs aim to consolidate their positions in the financial services sector.

As on the Identified Date, a significant portion of the target company's equity shares is held by entities connected to the proposed offer and the target company’s promoter group:

• PAC 1 (Intellect Stock Broking Limited) holds 24,73,693 equity shares, representing 3.64% of Emerging Voting Capital.
• Mr. Amitabh Chaturvedi (PAC 3) holds 65,66,174 equity shares, making up 12.06%.
• AC Enterprises Private Limited (PAC 4) has been allotted 65,00,000 convertible warrants in the preferential issue.

The company's current capital structure shows a total Emerging Voting Share Capital of 6,78,77,505, which includes fully paid-up equity shares and outstanding convertible warrants.

Eligible Shareholders are advised to consult their respective tax advisors for potential income-tax implications arising from the disposal of equity shares under this Open Offer.

Stock Price Movement​

Purple Finance Ltd. settled at ₹66.09 today, posting a 0.15% dip after the close of trade. The shares traded within an intraday range, testing lows near ₹64.51 and finding highs up to ₹66.80.