Purple Finance Limited allots 96,04,273 shares on rights basis, gets IRDAI registration as Corporate Agent

The Finance Committee has via Circular Resolution dated June 18, 2025 approved the allotment of 96,04,273 Fully Paid-up Equity Shares having face value of Rs. 10.- each at a price of Rs. 42/- per Rights Equity Share (including a premium of Rs. 32/- per Right Equity Share) ("Allotment").

Accordingly, pursuant to the Allotment, the paid-up Equity Share Capital of the Company has increased from Rs. 44,81,99,390/- to Rs. 54,42,42,120/- and accordingly the number of Equity shares to 5,44,24,212 Equity Shares.

The Insurance Regulatory and Development Authority of India has granted certificate of registration to Purple Finance Limited to act as Corporate Agent under the Insurance Regulatory and Development Authority Act, 1999 (4 of 1999) and Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015.

The registration will be income accretive for the Company, as it enables the offering of insurance products to its customers and the generation of commission income.

Source : Equity Bulls

Keywords

PurpleFinance FundRaising RightsIssue SharesAllotment IRDAI Approval CorporateAgent