The Company is pleased to inform that the Insurance Regulatory and Development Authority of India has granted certificate of Registration to Purple Finance Limited to act as a Corporate Agent.
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Purple Finance Limited has received a Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDAI) to act as a Corporate Agent under the IRDA Act, 1999. The registration is valid for three years, from June 11, 2025 to June 10, 2028. This license allows the company to offer insurance products to its existing customers and earn commission income on those sales. The company has stated that this approval will be income accretive, adding a new revenue stream to its existing financial services business. The intimation was made to BSE and Calcutta Stock Exchange on June 18, 2025, under SEBI Listing Regulations.
Positive for shareholders — the new IRDAI license opens up an additional revenue line through insurance distribution commissions, diversifying the company's income beyond its current financial services offerings. This could support future earnings growth, though the actual financial impact will depend on how aggressively the company ramps up insurance product sales.