HDFC Bank’s M-cap touches Rs 14 trillion for first-time ever
The market capitalization (market cap) of HDFC Bank topped the Rs 14 trillion mark for the first-time ever on Thursday.
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.
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Mr. Amitabh Chaturvedi, Promoter and Executive Chairman of Purple Finance Limited, expressed his enthusiasm regarding the listing, stating,
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“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.
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