Purple Finance to raise Rs 25 Cr through Private Placement of NCDs

Purple Finance Limited's Board approved issuance of up to 25,000 senior, secured, rated, listed, redeemable, transferable INR-denominated non-convertible debentures of Rs 10,000 face value each, aggregating Rs 25 crore on private placement basis in one or more tranches.

NCD Terms

24-month tenure with 12% p.a. monthly interest; principal repaid in 6 installments plus final maturity payment. Secured by first ranking pari passu charge on identified book debts/loan receivables; default incurs 2% p.a. additional interest. Finance Committee delegated execution powers within Section 180(1)(c) borrowing limits.

Portfolio Sale Approved

Board approved Rs 37.93 crore direct assignment sale of loan portfolio (90:10 proportion) under RBI NBFC credit risk transfer directions, 2025; income accretive with Purple Finance continuing as servicer.

Shares of Purple Finance Limited was last trading in BSE at Rs. 54.46 as compared to the previous close of Rs. 54.76. The total number of shares traded during the day was 143515 in over 206 trades.

The stock hit an intraday high of Rs. 57.00 and intraday low of 52.03. The net turnover during the day was Rs. 7756530.00.

Source : Equity Bulls

Keywords

PurpleFinance NBFC INE0CYK01015 FundRaising NCDs PrivatePlacement