The Finance Committee authorized by the Board of Directors of the Company in this regard, at its Meeting held today, i.e. Tuesday, October 28, 2025, have inter alia, approved the issuance ....
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Purple Finance Ltd's Finance Committee, at its meeting on October 28, 2025, approved the issuance of 1,00,00,000 (1 crore) equity share warrants on a preferential basis to a single investor, Intellect Money Finvest Private Limited. Each warrant is convertible into one equity share of Rs. 10 face value, at an issue price of Rs. 39 per warrant (including a premium of Rs. 29). The total issue size aggregates to Rs. 39 crores. The warrants can be exercised in one or more tranches within 18 months from the date of allotment, after which unexercised warrants will lapse and the upfront amount will be forfeited. The issuance is subject to shareholder approval and other regulatory approvals, including from the RBI.
This preferential allotment will bring in Rs. 39 crores from a single investor but will lead to dilution of existing shareholders once the warrants are converted into equity. The stock may face short-term pressure given the concentrated issuance to a single entity, though the Rs. 39 conversion price also sets a near-term reference level for the stock.