Mark Corporate Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3 and 4 read with Regulations 13(1), 14 and 15(1) of the ....
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An Open Offer has been triggered for Purple Finance Limited (BSE: 544191) under SEBI (SAST) Regulations 2011. Allied Commodities Private Limited (Acquirer 1) and Mr. Sandeep Jindal (Acquirer 2), along with four PACs, are seeking to acquire up to 1,76,48,152 equity shares (26% of emerging voting share capital) at ₹55 per share, amounting to a maximum consideration of ₹97.06 crore. The acquisition will give the Acquirers and PAC1 & PAC2 joint control over the company, making them part of the Promoter/Promoter Group alongside existing promoters. Separately, the board approved a preferential issue of 1.60 crore convertible warrants at ₹55 per warrant to the Acquirers and select parties. There is no intention to delist the company, and the offer is not conditional on minimum acceptance.
Public shareholders now have the option to tender shares at ₹55, which is the determined offer price. The change in joint control and significant infusion through the preferential warrant issue could reshape the company's direction, though no delisting is planned.