Pursuant to Regulation 30 of the SEBI LODR Regulations, please find enclosed Postal Ballot Notice along with Explanatory Statement.
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Purple Finance Ltd has issued a Postal Ballot Notice dated July 21, 2025, seeking shareholder approval for the appointment of Mr. Sabyasachi Rath (DIN: 07899850) as Executive Director designated as ED & CEO for a 3-year term (July 21, 2025 to July 20, 2028). The appointment has already received RBI approval (June 5, 2025) and Board approval, and is now being put to shareholders as a Special Resolution. Mr. Rath, a co-founder and existing CEO, will receive a total remuneration of Rs. 95 lakh per annum initially, increasing to Rs. 1.10 crore per annum from October 1, 2025 (the same increase shareholders approved at the June 12, 2025 meeting). E-voting will run from July 22 to August 20, 2025, with the cut-off date of July 18, 2025. The company, which has 40 branches, ~350 employees, presence in 6 states, and an AUM of over Rs. 130 crore, noted it is still in an early growth phase and not yet profitable.
This is largely a formal elevation of an existing co-founder and CEO to the Board as Executive Director, signaling leadership continuity. Shareholders are being asked to approve his remuneration, with no immediate financial impact on the stock expected, though outcomes of the e-voting on August 20, 2025 will be closely watched.