Stock market extends gains for fifth consecutive session, ignoring weak global markets
The stock market extended gains for the fifth consecutive session on Friday, ignoring weak global markets.
Purple Finance, a digitally-enabled Non-Banking Financial Company (NBFC), is working to empower entrepreneurs in tier-two and tier-three cities by providing crucial access to working capital.
The company recently got listed on the Bombay Stock Exchange (BSE), marking a new chapter in its growth trajectory.
Advertisement
Mr. Amitabh Chaturvedi, Promoter and Executive Chairman of Purple Finance Limited, expressed his enthusiasm regarding the listing, stating,
Advertisement
“We are thrilled about this new chapter and remain steadfast in our commitment to delivering MSME-focused loans. These loans will not only help our customers transform their lives but also meet their working capital and business needs with our timely disbursements. This approach drives long-term value for both our customers and stakeholders.”
Currently, Purple Finance operates a network of 24 branches across Maharashtra, Madhya Pradesh, Gujarat, and has recently expanded into Uttar Pradesh. The company boasts a robust team of nearly 200 dedicated professionals working on the ground to propel its growth and reach.
To date, Purple Finance has successfully served over 750 customers, disbursing loans amounting to approximately Rs 40 crore. These loans are fully secured by self-occupied properties and fall within the ticket size range of Rs 5 to Rs 7 lakhs. By focusing on the funding needs of unorganized nano enterprises in tier-three and tier-four district towns, which encompass both rural and semi-urban populations, Purple Finance is playing a pivotal role in driving economic development and financial inclusion in these regions, stated a press release.
The company’s market debut underscores its potential for continued growth and its pivotal role in supporting micro, small, and medium-sized enterprises (MSMEs) in underserved areas.
Advertisement
Related posts
Vodafone to appeal against Rs 16.73 cr GST demand
Vodafone Idea (Vi) stated through a filing to the Bombay Stock Exchange (BSE) on Friday that it plans to appeal against a Rs 16.73-crore Goods & Services (GST) demand order it has received from the Deputy Commissioner of the Large Taxpayer Unit of West Bengal.
Sensex projected to rise 18 pc by end of 2025: Morgan Stanley
In its latest note, the US-headquartered investment bank sees 18 per cent base case upside for the BSE Sensex by the December end.
