The Board of Directors of Purple Finance Limited at their Meeting held on February 06, 2026, have considered and approved: 1. Increase in the Authorised Share Capital of the Company 2. ....
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The Board of Purple Finance Ltd, at its meeting on February 6, 2026, approved raising the Authorised Share Capital from Rs. 70 crore to Rs. 82.60 crore by creating 1.26 crore additional equity shares of Rs. 10 each. The Board also approved the preferential issuance of 1,26,00,000 fully convertible warrants at Rs. 55 per warrant (Rs. 45 premium), aggregating to Rs. 69.30 crore, to 8 allottees including Amitabh Chaturvedi, AC Enterprises Pvt Ltd, and Sandeep Jindal. Sandeep Jindal, along with Amitabh Chaturvedi and AC Enterprises (acting in concert), will launch a mandatory open offer under SEBI Takeover Regulations, and Jindal will be reclassified as a Promoter. The Board also approved adding mutual fund distribution to the company's objects clause, amending Articles to enable Debenture Trustee nominee director, and a Postal Ballot to seek shareholder approval.
The preferential warrant issue will lead to equity dilution once warrants are exercised (within 18 months), and the mandatory open offer signals a change in control/promoter. Existing shareholders may see their stake reduced; the warrant premium of Rs. 45 over face value is positive, indicating investor confidence, but the change of promoter and open offer are the key events to watch.