The Board of Directors at their Meeting held on October 28, 2025 have approved the postal ballot notice for increase in the Authorised Capital of the Company and issuance of convertible ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Purple Finance Ltd's board, at its meeting on October 28, 2025, approved a postal ballot notice covering two items. First, the company proposes to increase its authorised share capital from Rs. 60 crore to Rs. 70 crore by creating an additional 1 crore equity shares of Rs. 10 face value each, and amend the Memorandum of Association accordingly. Second, the board approved issuance of 1 crore convertible equity warrants at Rs. 39 per warrant (including a premium of Rs. 29 over the face value), aggregating to Rs. 39 crore, to a single investor — Intellect Money Finvest Private Limited. The warrants are fully convertible into equity shares of Rs. 10 face value each. Shareholders will now vote on these proposals through postal ballot and e-voting.
This is a Rs. 39 crore preferential capital raise from a single identified investor, which may dilute existing shareholders once the warrants are converted into equity. The outcome depends on shareholder approval via postal ballot; rejection could stall the fund infusion.