Please find enclosed the Draft Letter of Offer
Price
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Awaiting price reaction for this filing.
Purple Finance Limited has received a Draft Letter of Offer dated February 23, 2026, from Mark Corporate Advisors (Manager to the Offer) for an Open Offer to public shareholders under SEBI Takeover Code. The offer is triggered by a preferential allotment of 1,26,00,000 convertible warrants (at ₹55 per warrant) approved on February 6, 2026, along with the acquirers' intention to gain joint control. 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 to acquire up to 1,76,48,152 equity shares (26% of Emerging Voting Capital) at ₹55 per share, totaling approximately ₹97.06 crore in cash. The tendering period will run from April 8, 2026, to April 22, 2026, subject to RBI approval. There is no intention to delist the stock, and the acquirers do not plan major changes to the existing business.
Public shareholders of Purple Finance can tender their shares between April 8 and April 22, 2026, at ₹55 per share in cash. Since the offer is mandatory under takeover regulations, shareholders should weigh the offer price against the prevailing market price and await the Independent Directors' recommendation due by April 2, 2026. No delisting is planned, and joint control will be shared between acquirers and existing promoters.