Purple Finance Ltd. Announces Approval to Issue Debentures
Purple Finance Limited announced that its Finance Committee approved the issuance of upto 500 Subordinated, Unsecured, Rated, Listed, Redeemable, Transferable, INR Denominated, Non-Convertible Debentures (NCDs). Each debenture has a face value of Rs. 1,00,000, with a total aggregate of Rs. 5,00,00,000, to be issued in one or more tranches.The issuance will be on a Private Placement Basis and will be within the company’s current borrowing limits. The debentures are proposed to be listed on the BSE Limited.
The NCDs will have a tenure of 61 months, with an interest rate of 12.50% per annum, payable monthly. The principal amount outstanding will be repaid on maturity, 61 months from the deemed date of allotment.
A table summarizing the key details of the issuance is provided below:
| Particulars | Details of Issuance of Security |
|---|---|
| Type of securities proposed to be issued | Subordinated, Unsecured, Rated, Listed, Redeemable, Transferable, INR Denominated, Non-Convertible Debentures |
| Type of issuance | Private Placement basis. |
| Total number of securities proposed to be issued or the total amount for which the securities will be issued | Upto 500 (Five Hundred) Subordinated, Unsecured, Rated, Listed, Redeemable, Transferable, INR Denominated, Non- Convertible Debentures having face value of Rs. 1,00,000/- (Rupees One Lac only) each aggregating up to Rs. 5,00,00,000/- (Rupees Five Crores only) in one or more tranches. |
The Finance Committee meeting commenced at 11:30 a.m. and concluded at 11:45 a.m.
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