Please find enclosed Detailed Public Statement of the Open Offer.
Price
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Purple Finance Limited has issued a Detailed Public Statement for an Open Offer to acquire up to 1,76,48,152 equity shares (26% of the Emerging Voting Share Capital) from public shareholders at ₹55 per share, aggregating to about ₹97.06 crore in cash. The acquirers are Allied Commodities Private Limited and Mr. Sandeep Jindal, along with four persons acting in concert (PACs) including Intellect Stock Broking and Intellect Money Finvest. The offer is triggered under SEBI's Takeover Regulations following a preferential allotment of 1.26 crore convertible warrants at ₹55 per warrant approved on February 6, 2026. Post-offer, the acquirer group along with existing promoters will hold 66.33% of the company, with no intention to delist. The offer price is justified based on the 60-day volume-weighted average price of ₹51.99 on BSE, and escrow arrangements of ₹2.5 crore cash plus ₹22.47 crore in securities have been put in place.
Public shareholders can tender their shares at ₹55 each during the offer window. The offer price represents a modest premium over the 60-day VWAP of ₹51.99, suggesting limited immediate upside, but the entry of new promoters could bring strategic changes to the NBFC's direction.