ET BureauThe Board of Purple Finance approved the merger of Purple Finance Ltd. with Canopy Finance Ltd subject to regulatory approvals. The Equity shares of Canopy Finance Ltd are listed on BSE Ltd. & Calcutta Stock Exchange Ltd.
Post-merger the capital base of the merged entity will be Rs 30 Crore. Post completion of the listing formalities Purple Finance intends to raise capital to strengthen its capital base using shares as a currency for growth.
The company stated Purple Finance will be offering secured business loans ranging from Rs 4 lakhs – Rs 10 lakhs in the outskirts & tier II cities of Maharashtra , Gujarat & Orissa.
Post-merger the capital base of the merged entity will be Rs 30 Crore. Post completion of the listing formalities Purple Finance intends to raise capital to strengthen its capital base using shares as a currency for growth.
The company stated Purple Finance will be offering secured business loans ranging from Rs 4 lakhs – Rs 10 lakhs in the outskirts & tier II cities of Maharashtra , Gujarat & Orissa.
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