the Finance Committee of the Board of Directors of the Company at their Meeting held today i.e. March 31, 2026, inter alia, has considered and approved the following: The Issuance of ....
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Purple Finance's Finance Committee, at its meeting on March 31, 2026, approved the issuance of up to 500 subordinated, unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis. The NCDs have a face value of Rs. 1,00,000 each, aggregating up to Rs. 5 crore, to be issued in one or more tranches. The instruments carry a coupon of 12.50% per annum, payable monthly, with a tenure of 61 months (about 5 years) and are proposed to be listed on BSE. The issuance is within the company's existing borrowing limits under Section 180(1)(c) of the Companies Act, 2013.
This is a small Rs. 5 crore debt raise at a high 12.50% interest rate, which may indicate elevated borrowing costs and credit risk. For equity shareholders, the additional interest burden could pressure future earnings, though the small size limits the immediate dilution to per-share returns.