We would like to inform you that the Shareholders of the Company have inter alia approved alteration of the Memorandum of Association and Alteration of Association of the Company.
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At its 31st Annual General Meeting held on June 12, 2025 via video conferencing, shareholders of Purple Finance Ltd approved two key changes. First, the Memorandum of Association was altered to increase the authorized share capital to Rs. 60 crore, divided into 6 crore equity shares of Rs. 10 each, through an ordinary resolution. Second, the Articles of Association was overhauled through a special resolution to align it with the Companies Act and SEBI regulations, and to enable the company to issue different kinds of securities. The document notes that Purple Finance itself is the result of the NCLT-approved merger of Canopy Finance Limited into the company (order dated February 15, 2024), and the shares have been listed on BSE since June 14, 2024.
The higher authorized share capital gives the company headroom to raise fresh equity or issue other securities in the future, which could mean potential dilution for existing shareholders if new shares are eventually issued. The AOA overhaul is more of a housekeeping and flexibility exercise rather than an immediate capital action.