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NBFC Purple Finance acquires rural lender Saksham Gram Credit
Source Business Line (opens in a new tab)BSE Announcement (opens in a new tab)
New Delhi-based Purple Finance has acquired 100% stake in Pune-based Saksham Gram Credit via a share swap to expand its presence into rural and semi-rural lending markets.Founded in 2019 by Gyanandra Mishra, Preeti Mishra, and G. Naga Reddy, Saksham Gram Credit offers microfinance and rural lending solutions and small-ticket loans to women entrepreneurs, self-help groups, and low-income households across rural India.Post-acquisition, the combined entity’s assets under management are projected to reach approximately INR 850 crore.