Purple Finance Limited sells portion of its portfolio to Ambit Finvest Pvt Ltd

Purple Finance Limited has approved a transaction for the sale of portion of its portfolio to Ambit Finvest Private Limited ("Ambit") amounting to Rs. Rs. 8,26,58,609/- (Rupees Eight Crore Twenty-Six Lacs Fifty Eight Thousand Six Hundred and Nine Only) under Direct Assignment in terms of Master Directions - Reserve Bank of India (Transfer of Loan Exposures) Directions 2021, as amended from time to time.

This Direct Assignment transaction shall be income accretive and reaffirms the Company's ability to create a good portfolio. The proportion of Direct Assignment between Ambit and Purple shall be 90:10. Purple Finance Limited shall continue act as a Servicer for all the loan books in this arrangement.

Shares of Purple Finance Limited was last trading in BSE at Rs. 39.24 as compared to the previous close of Rs. 40.71. The total number of shares traded during the day was 75445 in over 152 trades.

The stock hit an intraday high of Rs. 42.00 and intraday low of 38.68. The net turnover during the day was Rs. 2964538.00.

Source : Equity Bulls

Keywords

PurpleFinance NBFC INE0CYK01015 Portfolio Sale DirectAssignment AmbitFinvest