Amisha Vora acquires Prabhudas Lilladher Group, ups stake to 96%

Amisha Vora will now be the chairperson and managing director of Prabhudas Lilladher.

Amisha Vora, co-owner and joint managing director of Prabhudas Lilladher (PL) Group, has acquired the holding company, raising her stake to 96 percent from 24 percent, the firm said on November 16.

Vora, a chartered accountant by training, will now be the chairperson and managing director of one of India's leading financial services companies.

“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,” Vora said in a statement.

The acquisition has been approved by the Securities and Exchange Board of India (SEBI), BSE, National Stock Exchange, Reserve Bank of India (RBI) and other regulators, the statement said.

Vora’s move comes after company chairman Arun Sheth decided to retire at the age of 75 after completing 50 years with PL, the release said. Joint MD Dilip Bhat is moving on after 22 years.

Vice chairman Dhiren Sheth will continue his association as a non-executive director through his position on the board of directors.

Vision for the next decade

Vora said PL “will focus on being a value-added integrated financial services provider with 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.”

Her focus would also be on building a team of qualified professionals to fuel the next leg of the company’s journey.

Vora has been with Prabhudas Lilladher since 2000 and became a joint MD and 24 percent stake owner in 2007. In her over 20-years career with the company, she has played a key role in diversifying and strengthening the group, the statement said.

She has 35 years of experience across equity research, institutional sales, investment banking and corporate advisory, retail broking and wealth management, funds management and the non-banking financial companies businesses.