Purple Finance Limited has announced the proposed acquisition of Saksham Gram Credit Private Limited as part of its inorganic growth strategy to expand its footprint, strengthen distribution capabilities and enter rural and semi-rural markets across India.
The BSE-listed non-banking financial company said it has also secured Rs 108 crore in equity fund-raising commitments, providing additional financial strength to support its next phase of growth.
Commenting on the development, Amitabh Chaturvedi, Chairman, Purple Finance Limited, said the company’s growth strategy extends beyond opening new branches and includes evaluating strategic opportunities that can help expand into new geographies, strengthen its portfolio and build new capabilities.
Purple Finance reported Assets Under Management (AUM) of more than Rs 278 crore as of June 30, 2026, representing growth of over 116 per cent compared with the previous financial year. The company also said cumulative loan disbursements since inception have crossed Rs 312 crore.
For the quarter ended June 30, 2026, the company reported total income of Rs 1,622.45 lakh, registering a 162.55 per cent year-on-year increase. It also posted a profit after tax (PAT) of Rs 38.43 lakh, compared with a loss in the corresponding quarter of the previous year.
The company’s Board of Directors has granted in-principle approval for the proposed acquisition of Saksham Gram Credit as a 100 per cent wholly owned subsidiary, subject to due diligence and regulatory approvals.
According to Purple Finance, the acquisition will strengthen its presence across Tier III and Tier IV markets, expand its customer base, enhance its distribution network and establish a stronger presence in southern India.
Founded in December 2019, Saksham Gram Credit provides business correspondent services to banks and NBFCs, facilitating microfinance, unsecured business loans and secured business loans. The company operates across 10 states, serving more than 1.63 lakh customers through 147 branches across 74 districts, supported by around 900 employees.
Following the proposed acquisition, the combined entity is expected to have Assets Under Management of around Rs 850 crore. Purple Finance said it will continue focusing on expanding formal credit access for micro, small and medium enterprises while pursuing its long-term goal of becoming a Small Finance Bank.
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