Non-banking financial company (NBFC) Purple Finance has announced an in-principle board approval to acquire Saksham Gram Credit Private Ltd as a wholly-owned subsidiary via a share swap. The strategic move is designed to accelerate the company’s expansion into rural and semi-urban lending markets.
Alongside the acquisition, Purple Finance has secured ₹108 crore in equity funding commitments to fuel its next phase of growth.
Key Transaction & Scale Metrics
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Combined Scale: The acquisition will boost Purple Finance’s combined Assets Under Management (AUM) to approximately ₹850 crore.
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Saksham Gram Footprint: Incorporated in December 2019, Saksham Gram operates 147 branches and over 31,000 microfinance centers across 74 districts in 10 states, serving upwards of 1.63 lakh customers with a workforce of around 900.
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Strategic Objective: Strengthens the distribution network across Tier III and IV markets—particularly in southern India—while advancing the company’s long-term aspiration of transitioning into a small finance bank.
Executive Perspective
“Our growth strategy is not limited to opening new branches. We are equally focused on evaluating strategic opportunities that can help us expand into new geographies, strengthen our portfolio, and add capabilities.”
— Amitabh Chaturvedi, Chairman, Purple Finance
