Micro, Small and Medium Enterprises (MSME)-focused NBFC, Purple Finance, recently has successfully closed its recent rights issue, which was oversubscribed by 1.5 times. The company offered 1,12,04,985 shares at Rs 40 per share, receiving overwhelming interest from investors, with applications totaling 1,71,99,236 shares—53 per cent above the issued amount.
This fundraising success highlights strong investor confidence in Purple Finance’s mission to MSMEs by meeting their financing needs. The capital raised will be used to expand the company’s loan portfolio, enhancing its ability to offer critical financial services to underserved businesses across India. This achievement underscores the company’s strategic vision and operational strength, further cementing its position as a growing player in the financial sector.
Operating in 30 cities across tier-II and tier-III locations in Maharashtra, Gujarat, Madhya Pradesh and Uttar Pradesh, Purple Finance plays a key role in providing timely, secured loans to MSMEs. The company currently serves over 1,100 customers, with loan disbursals exceeding Rs 60 crores.
This milestone marks a significant leap in Purple Finance’s journey towards empowering small businesses and driving economic development in India.
