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* - Tentative Dates
The Company intends to utilize the Net Proceeds from the Issue towards funding of the following objects:
Purple Finance Ltd's revenue increased by 73% and profit after tax (PAT) dropped by -20% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 73.87 | 58.49 | 16.97 |
| Revenue | 4.44 | 2.56 | -3.11 |
| Profit After Tax | -7.61 | -6.33 | -7.37 |
| Net Worth | 48.33 | 17.3 | 16.02 |
| Total Borrowing | 22.13 | 0.3 | 0.4 |
| Amount in ₹ Crore | |||
Purple Finance Limited is a non-banking finance company (NBFC) incorporated in 1993. It is registered with the Reserve Bank of India and focuses on providing secured loans to Micro, Small and Medium Enterprises (MSMEs) in Tier II, III and IV cities. The company started lending in 2013 and transformed itself into a digitally focused MSME lender in 2022 under the leadership of Amitabh Chaturvedi and five other professionals with extensive experience in the financial sector.
Purple Finance aims to support small businesses by offering loans between 3 to 30 lakhs secured against residential or commercial properties. The company relies heavily on technology and ensures efficient loan disbursement processes. According to recent reports, the company has disbursed loans worth around USD 45 million to about 800 customers.
