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November 17, 2022

Co-owner buys majority stake in Indian wealth firm Prabhudas Lilladher

Amisha Vora, a co-owner and joint managing director of Indian wealth management firm Prabhudas Lilladher Group (PL Group), has purchased a majority stake in the company.

The move, which has received greenlight from Securities and Exchange Board of India (SEBI) and other regulators of the country, has increased Vora’s shareholding in the firm from 24% to 96%.

It has made her the chairperson and managing director of PL Group.

In her new role, Vora plans to grow the company’s share in the institutional and non-institutional markets in the next ten years.

She also intends to expand the firm’s asset and wealth management business during the same period.

Vora said: “My mission is to ensure that we at PL continue to work towards converting our client’s savings into wealth.

“The PL brand has been built on the values of ‘Trust, Transparency and Ethical Practices’.

“We will continue to build our businesses on these core values of PL, which are ingrained in our DNA.”

Highlighting her plan for the upcoming decade, she said: “PL will focus on being a value-added integrated financial services provider with stellar research at its core.

“We believe that quantitative research is the future and we will work towards taking a leading position in quant-based asset and wealth management services.”

In addition, Vora noted that PL Group aims to support its future growth with a recently transformed and upgraded workforce.

As part of the changes in the management of the company, PL Group chairman Arun Sheth will retire, and joint MD Dilip Bhat will step down from his role.

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