Media

Purple Finance Limited, a non-banking financial company listed on the Bombay Stock Exchange, is acquiring 100% stake in Saksham Gram Credit Private Limited, a business correspondent company, marking a significant expansion into rural and semi-urban markets. This move aligns with the company’s long-term aspiration to enter into the small finance banking sector and deepen the company’s distribution network across Tier II, Tier III, and Tier IV markets.

Kochhar & Co. advised Purple Finance Limited on the acquisition, with key assistance in structuring the purchase consideration, which comprised a combination of cash consideration and a share swap mechanism, along with the overall transaction framework.

Additionally, Kochhar & Co. provided end-to-end legal support, including conducting legal due diligence, drafting and negotiating the transaction documents, and assisted with completion of all pre-closing and post-closing formalities.

The transaction was led by Sharmil Bhushan (Partner) and the team comprised of Aanchal Gujrani (Senior Associate) and Siri D (Associate).