₹44.82 Crores | Listing at BSE | Fri, Oct 4, 2024 - Fri, Oct 11, 2024
Purple Finance Ltd Rights Issue comprises 1.12 Cr equity shares aggregating to ₹44.82 Cr, offered at an issue price of ₹40 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Sep 26, 2024, with the Rights Issue being offered in the entitlement ratio of 1 : 3.
The term of payment is defined as following : All money payable at the time of Application
The Rights Entitlements are expected to be credited to eligible demat accounts on Oct 18, 2024.
The Rights Issue opens on Oct 4, 2024, and closes on Oct 11, 2024, with renunciation of Rights Entitlements permitted up to Oct 8, 2024.
The deemed date of allotment is Oct 18, 2024, following which the equity shares are expected to be credited to demat accounts on Oct 22, 2024 and listed at the BSE on Oct 23, 2024.
Mark Corporate Advisors Pvt.Ltd. is the Lead Manager to the issue and Purva Sharegistry (India) Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Purple Finance Ltd Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Thu, Sep 26, 2024
Entitlement Ratio
1 : 3
Open Date
Fri, Oct 4, 2024
Close Date
Fri, Oct 11, 2024
All money payable at the time of Application
Purple Finance Ltd's revenue increased by 73% and profit after tax (PAT) dropped by -20% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 73.87 | 58.49 | 16.97 |
| Revenue | 4.44 | 2.56 | -3.11 |
| Profit After Tax | -7.61 | -6.33 | -7.37 |
| Net Worth | 48.33 | 17.3 | 16.02 |
| Total Borrowing | 22.13 | 0.3 | 0.4 |
| Amount in ₹ Crore | |||
Incorporated in November 1993, Purple Finance Limited is a non-banking financial company (NBFC) that offers secured lending to retail micro, small, and medium enterprises (MSMEs) in tier II, III, and tier IV cities. The company provides loans to micro and small entrepreneurs ranging from ?3 lakh to ?30 lakh.
PFL has disbursed around INR 45 crore to approximately 800 customers. All loans are secured by either self-occupied residential or commercial property. PFL utilizes advanced technology for lending to customers.
The Company intends to utilize the Net Proceeds from the Issue towards funding of the following objects:
[Dilip Davda] The company is engaged in financial services with a major focus on MSME. It marked losses for the reported periods and thus the RI is at a negative P/E and exorbitantly priced. The only attraction is 72+% promoters holding. There is no harm in skipping this pricey bet even though it is at an attractive discount of around 43%. Read detail review...
Purple Finance Rights Issue 2024 got oversubscribed by 1.56 times by the end of the bidding period with total bid quantity received by BSE of 1,74,27,846 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | Subscription Times |
|---|---|---|
Oct 11 2024 17:00:00 | 1,74,27,846 | 1.56x |
Purple Finance Ltd
Room No. 11, 1st Floor
Indu Chambers 349/353, Samuel Street, Vadgadi,
Masjid Bunder (West), Mumb
Un, Gujarat
Purva Sharegistry (India) Pvt.Ltd.
The Purple Finance Rights Issue 2024 opens on Fri, Oct 4, 2024, and closes on Fri, Oct 11, 2024.
Purple Finance Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | Tue, Oct 1, 2024 |
| Last Date for renunciation of Rights Entitlements | Tue, Oct 8, 2024 |
| Issue Opening Date | Fri, Oct 4, 2024 |
| Issue Closing Date | Fri, Oct 11, 2024 |
| Date of Allotment (on or about) | Fri, Oct 18, 2024 |
| Date of Credit (on or about) | Tue, Oct 22, 2024 |
| Date of Listing (on or about) | Wed, Oct 23, 2024 |
You can apply for Purple Finance Rights Issue 2024 in two ways:
Steps to apply for Purple Finance Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for Purple Finance Rights Issue 2024 using Registrar's website (R-WAP)
