Consortium of Acquirers and PACs Announces Open Offer for 26% Stake in Purple Finance Limited

Consortium of Acquirers and PACs Announces Open Offer for 26% Stake in Purple Finance Limited​

A consortium comprising Allied Commodities Private Limited, Mr. Sandeep Jindal, and various Publicly Appointed Companies (PACs) has launched an Open Offer to acquire a substantial equity stake in Purple Finance Limited (PF). The offer aims to secure joint control over the NBFC, aligning with the Acquirers' intent to strengthen their presence within the financial services sector.

The consortium has established the parameters of the Open Offer for the acquisition of up to 176,48,152 fully paid-up equity shares in PF. The offer is priced at ₹ 55.00 per equity share and encompasses a total value of ₹ 97,06,48,360.

Key Offer Details​

The tender period for the Open Offer is set to run from Wednesday, July 01, 2026, to Tuesday, July 14, 2026. The offer applies to all Eligible Equity Shareholders of Purple Finance Limited.

A summary of the key operational aspects are provided below:

Acquisition Structure and Rationale​

The Open Offer is being made by the Acquirers and PACs to acquire a significant stake in Purple Finance Limited. The consortium includes Allied Commodities Private Limited (Acquirer 1) and Mr. Sandeep Jindal (Acquirer 2). Additionally, the offer is supported by 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).

PF, which is registered with the Reserve Bank of India as a Non-Deposit taking Non-Banking Financial Company (NBFC), primarily focuses on secured lending to Micro, Small, and Medium Enterprises (MSMEs) in Tier II, III, and IV cities across India. The proposed acquisition intends for the Acquirers and PACs to achieve joint control over PF alongside the existing Promoter/Promoter Group of the Target Company.

The consortium members bring diverse experience to the table. Allied Commodities Private Limited is engaged in financing, providing loans, advances, inter-corporate deposits, investments, and trading in shares and securities. Mr. Sandeep Jindal has expertise spanning Consultancy, Finance, and Real Estate Sector.

Operational Compliance and Financial Strength​

The Acquirers and PACs have made firm financial arrangements to ensure the implementation of the Open Offer. They opened a Cash Escrow Account with Yes Bank Limited, depositing an amount that accounts for 3.605% of the maximum consideration payable. Furthermore, securities valued at ₹ 31,23,89,733.90 have been transferred to a Demat Escrow Account with SW Capital Private Limited (Demat Escrow Agent).

The Offer Price was determined based on several parameters and is deemed justified by the Acquirers/PACs and Manager to the Offer. The consortium members have declared commitment to the offer, confirming that all information presented in the Letter of Offer is true and correct in all material respects.

PF’s current capital structure includes 5,44,24,212 fully paid-up equity shares, making up 80.18% of its Emerging Voting Share Capital. The Target Company maintains a commitment to maintain at least 25% public shareholding upon completion of the transactions.

Stock Price Movement​

Purple Finance Ltd shares are ticking up at ₹66.40 as of 15:27, recording a healthy gain of +0.32%. Throughout the day, the stock moved within a range, finding buyers and sellers between the intraday low of ₹64.51 and the high of ₹66.80.