Purple Finance: Open Offer for 26% Stake at ₹55 Per Share

Mark Corporate Advisors Pvt. Ltd., acting as the Manager to the Offer, has submitted a Letter of Offer to BSE for the public shareholders of Purple Finance Ltd. The open offer is made by Allied Commodities Private Limited, Mr. Sandeep Jindal, Intellect Stock Broking Limited, Intellect Money Finvest Private Limited, Mr. Amitabh Chaturvedi, and AC Enterprises Private Limited. They aim to acquire up to 1,76,48,152 equity shares, representing 26.00% of the emerging voting capital, at an offer price of ₹55.00 per share, payable in cash. The offer is being made pursuant to SEBI (SAST) Regulations, 2011, and has received prior approval from the Reserve Bank of India for the acquisition and change in control.