Mark Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the public shareholders of Purple Finance Ltd ("Target Company").
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A group led by Allied Commodities Pvt Ltd and Mr. Sandeep Jindal, along with persons acting in concert (Intellect Stock Broking Ltd, Intellect Money Finvest Pvt Ltd, Mr. Amitabh Chaturvedi and AC Enterprises Pvt Ltd), have submitted a Draft Letter of Offer to BSE to buy up to 1.76 crore shares (26% of voting capital) of Purple Finance Ltd at ₹55 per share, totalling about ₹97.06 crore in cash. The open offer was triggered by a Board-approved preferential allotment of 1.26 crore convertible warrants (also at ₹55 each) on February 6, 2026, and is being made under SEBI Takeover Code Regulations 3(1), 3(2) and 4. Post-offer, the acquirers will have joint control with existing promoters; PAC 2 will also separately convert 1 crore warrants into equity shares. The tendering window is April 8 to April 22, 2026, subject to RBI approval (already applied for on Feb 18, 2026). No delisting or major business change is planned, and acquirers have committed to maintaining at least 25% public shareholding.
Eligible public shareholders can tender their shares at ₹55 each between April 8 and April 22, 2026. The open offer price will act as a near-term floor for the stock, while the change in control may bring fresh capital and board changes but no delisting.