Purple Finance's ₹97 cr open offer gets RBI, SEBI clearances
Allied Commodities and Sandeep Jindal's mandatory offer for 26% at ₹55 per share opens July 1. Regulatory approvals remove key hurdle.
— 1 earlier story on Purple Finance Ltd. →What's new
- Mandatory open offer for 26% at ₹55/share gets RBI and SEBI clearance.
- Offer opens July 1, closes July 14; total consideration ₹97.06 cr.
- Triggered by preferential warrant allotment approved in February.
Why this matters
The RBI and SEBI nods remove the biggest risk that the offer could be delayed or blocked. For a company with rapid trailing growth (revenue up 172%, PAT +100.5%), the open offer brings a new controlling group. The ₹55 price will be closely watched against market levels.
What we're watching
- Market price reaction ahead of the tendering period.
- Any competing bids or counter-offers.
- Post-offer ownership structure and management changes.
The full read
Purple Finance's mandatory open offer for 26% of the equity at ₹55 per share, totalling ₹97.06 crore, has cleared its last major regulatory hurdle. The RBI approved the acquisition on June 3, and SEBI followed on June 12. The tendering window opens July 1 and runs through July 14. The offer, triggered by a preferential warrant allotment in February, represents 25.5% of the company's ₹382 crore market cap. For a high-growth NBFC with trailing revenue up 172% and PAT up 100.5%, the regulatory green light shifts focus to how the market prices the ₹55 offer versus the stock's current level. The earlier approvals reduce execution risk, but the real test is what shareholders do with the tender.
Questions answered
- What triggered this open offer?
- The open offer was triggered by a preferential warrant allotment approved by Purple Finance's board on February 6, 2026, leading to a change in control.
- Who are the acquirers?
- Allied Commodities Private Limited and Sandeep Jindal, along with their concert parties, are making the open offer.
- What is the offer price and size?
- The offer is at ₹55 per share for up to 1,76,48,152 equity shares (26% of voting capital), aggregating ₹97.06 crore.
- When can shareholders tender their shares?
- The tendering period opens on July 1, 2026, and closes on July 14, 2026.
- What regulatory approvals have been obtained?
- RBI granted prior approval on June 3, 2026, and SEBI issued observations on June 12, 2026, for the acquisition and change in control.
- Why is this offer significant relative to the company's size?
- The offer size of ₹97.06 crore represents about 25.5% of Purple Finance's ₹382 crore market cap, making it a substantial corporate action.
Purple Finance Ltd.
Latest quarter · Mar 2026
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All notes on PURPLEFIN →- 23 Jun 2026 · 3:29 PM IST Purple Finance's ₹97 cr open offer gets RBI, SEBI clearances
- 7d ago Purple Finance to sell ₹23 cr loan book in assignment deal