Purple Finance Grants In-Principle Approval to Acquire 100% Stake in Saksham Gram Credit

Non-banking financial company Purple Finance Limited has granted in-principle approval for the proposed acquisition of a 100% equity stake in Saksham Gram Credit Private Limited.

The announcement marks a strategic move by Purple Finance to expand its retail lending footprint and distribution capabilities across rural and semi-urban India.

The company has initiated due diligence to evaluate the proposed transaction. The acquisition will progress through the execution of a Term Sheet, followed by a Share Subscription cum Shareholders Agreement and other definitive legal agreements, subject to necessary regulatory and statutory approvals.


Strategic Rationale and Synergy

The proposed transaction aligns with Purple Finance's overarching growth strategy to strengthen its lending framework, distribution network, and reach in underserved markets.

Since Saksham operates in the same core line of financial services, the acquisition is expected to unlock operational synergies, enhance customer acquisition, and deepen Purple Finance's presence in key rural growth corridors.

Overview of Saksham Gram Credit

Incorporated on December 24, 2019, under the Companies Act, 2013, Saksham Gram Credit Private Limited specializes in providing Business Correspondent (BC) services to banks and non-banking financial companies (NBFCs).

The Kolkata-headquartered firm focuses heavily on rural and semi-urban financial inclusion by facilitating:

- Microfinance loans through the Joint Liability Group (JLG) model

- Unsecured business loans

- Secured business loans

- Micro, Small, and Medium Enterprise (MSME) loans

As of March 31, 2026, Saksham managed a portfolio outstanding of approximately ₹523 crore. The target entity operates an extensive network of 148 branches spread across 10 states in India, partnering with multiple banks and financial institutions.

Financial Track Record of the Target Entity

Saksham Gram Credit has demonstrated consistent operational presence in the financial inclusion segment over the past three fiscal years:

FY 2025-26: Reported a total income of ₹45.29 crore (with managed portfolio total income standing at ₹43.39 crore).

FY 2024-25: Recorded a turnover of ₹64.16 crore.

FY 2023-24: Registered a turnover of ₹34.04 crore.

Key Deal Terms and Compliance Disclosures

Acquisition Size: Purple Finance intends to acquire up to a 100% equity stake, securing full operational and managerial control upon completion.

Consideration and Cost: The final cost of acquisition, valuation, structure, and payment terms (whether cash consideration or share swap) are currently under discussion and will be finalized upon execution of definitive agreements.

Execution Timeline: The proposed acquisition is expected to be completed within a stipulated timeline of 6 months, subject to the completion of due diligence, finalization of definitive documents, and receipt of internal, statutory, and regulatory approvals.

Source : Equity Bulls

Keywords

PurpleFinance Acquisition SakshamGramCredit