Purple Finance Strengthens Capital Base with ₹39 Crore Fundraise from Intellect Money Finvest

Purple Finance Limited, a Mumbai-based non-banking company (NBFC), has announced the approval of a ₹39 crore capital raise through the private placement of 1 crore equity share warrants, each convertible into one equity share at a price of ₹39 per share.

The Finance Committee, authorized by the Board of Directors, approved the issuance on a preferential basis, with Intellect Money Finvest Private Limited participating as the sole investor.

Commenting on the development, Mr. Amitabh Chaturvedi, Executive Chairman and Executive Director, Purple Finance Limited, said "This fundraise will strengthen our Capital Base and help us accelerate our disbursement goals.

This strategic fundraise marks a significant milestone for Purple Finance, reinforcing its commitment to building a resilient, growth-oriented financial institution and supporting its future expansion plans.

Source : Equity Bulls

Keywords

PurpleFinance NBFC FundRaising PrivatePlacement ConvertibleWarrants IntellectMoneyFinvest