Purple Finance Limited, a Mumbai-based non-banking financial company (NBFC), has announced the approval of a Rs 390 million capital raise through a private placement of 10 million equity share warrants, each convertible into one equity share at Rs 39 per share.

The Finance Committee, authorised 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, Amitabh Chaturvedi, Executive Chairman and Executive Director of Purple Finance Limited, said,

“This fundraise will strengthen our capital base and help us accelerate our disbursement goals.”

The strategic capital infusion represents a key milestone for Purple Finance, reinforcing its commitment to building a resilient and growth-oriented financial institution. The funds will support the company’s future expansion and lending plans, bolstering its position in the financial services sector.