Mark Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement under Regulation 13(4), 14(3) and 15(2) of the SEBI (SAST) Regulations, ....
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Mark Corporate Advisors, the Manager to the Offer, has submitted a Detailed Public Statement to BSE on February 13, 2026 for an Open Offer to acquire up to 1,76,48,152 equity shares (26% of emerging voting share capital) of Purple Finance Limited at ₹55.00 per share, aggregating to ₹97.06 crore. The acquirers are Allied Commodities Private Limited and Mr. Sandeep Jindal, along with four persons acting in concert (PACs) including Intellect Stock Broking, Intellect Money Finvest, Mr. Amitabh Chaturvedi, and AC Enterprises. The offer has been triggered under SEBI (SAST) Regulations, 2011 following a preferential allotment of 1,26,00,000 convertible warrants approved on February 6, 2026. Post-offer, the acquirer and PAC group will collectively hold 66.33% of the voting capital, indicating a change in control. The offer is subject to prior RBI approval since Purple Finance is an RBI-registered NBFC. Target company has reported losses of ₹645.84 lakhs for the nine months ended December 2025 and ₹1,554.82 lakhs for FY25.
Public shareholders of Purple Finance can tender their shares at ₹55.00 per share in cash during the tendering period. The acquisition signals a change in management control of the listed NBFC, which may bring strategic shifts but also introduces execution risk given the target's ongoing losses.