<h1>Purple Finance Ltd Approves Sale of Loan Portfolio Up To Rs 23 Crores via Direct Assignment</h1>
Purple Finance Ltd has approved the sale of a portion of its loan portfolio, aggregating up to Rs 23.00 crores. The transaction, which was authorized by the company's Finance Committee, involves selling the loans through a Direct Assignment route.
The move is expected to be income accretive for the company and serves to reaffirm Purple Finance Ltd’s capacity to originate and maintain a quality loan portfolio in the market.
Under the terms of these direct assignment transactions, the participation ratio between the assignees and Purple Finance Limited will stand at 90:10. Despite this transaction, Purple Finance Ltd will continue in its role as the servicer for all loans assigned under these arrangements.
Stock Price Movement
At the close of trade today, Purple Finance Ltd.'s shares settled at ₹63.81, declining by 3.16%. Throughout the session, the stock moved within a notable intraday range, trading between a low of ₹63.63 and a high of ₹67.40.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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