Allied Commodities Private Limited and its associates are launching an open offer to acquire up to 26% of Purple Finance Ltd for ₹97.06 crore. The offer price is ₹55 per share.
Purple Finance Ltd Open Offer
Allied Commodities Private Limited and persons acting in concert (PACs) will make an open offer to acquire 1,76,48,152 equity shares of Purple Finance Ltd, representing 26% of the total paid-up equity share capital. The total consideration for this offer amounts to ₹97.06 crore, with each share tendered at ₹55. The tendering period is scheduled from July 1, 2026, to July 14, 2026.
What just happened
An open offer is being made by Allied Commodities Private Limited and PACs to acquire a 26% stake in Purple Finance Ltd at ₹55 per share, totaling ₹97.06 crore.
Why this matters
This open offer signifies a change in control for Purple Finance Ltd. Minority shareholders have an opportunity to tender their shares at a premium. The acquirers intend to gain joint control over the company, following a preferential allotment of convertible warrants.
The backstory
The Reserve Bank of India (RBI) granted prior approval for the acquisition and the proposed change in control on June 3, 2026. The acquirers, Allied Commodities and its PACs, aim to obtain joint control following the preferential allotment.
What changes now
The open offer allows existing shareholders to sell their stake at ₹55 per share. The acquirers will gain significant influence, moving towards joint control of Purple Finance Ltd.
Risks to watch
Minority shareholders should carefully review the letter of offer for procedural requirements. Past non-compliance penalties by the target company for SEBI (LODR) Regulations, though minor, indicate a history of regulatory oversight.
Peer comparison
Information regarding peers in this specific transaction context is not provided in the filing.
Context metrics (time-bound)
Allied Commodities reported ₹8.10 crore in total income and ₹6.74 crore in profit for the 9 months ending December 31, 2025. For the fiscal year 2025, its total income was ₹17.15 crore and profit was ₹12.47 crore.
What to track next
Investors should monitor the acceptance ratio of the open offer and any future strategic announcements by the new management regarding Purple Finance Ltd's business direction.