Avendus’ PE fund buys stake worth ₹140 crore in Parag Parikh Financial Advisory Services
Avendus Future Leaders Fund has acquired a significant minority stake in Parag Parikh Financial Advisory Services for 140 crore. The investment aims to capitalize on the increasing number of retail and institutional investors currently entering the Indian capital markets.
Avendus’ private equity arm, the Avendus Future Leaders Fund, has completed a stake purchase worth 140 crore in Parag Parikh Financial Advisory Services (PPFAS). This move marks a strategic expansion for the fund into the domestic asset management and wealth advisory space.
Ritesh Chandra, managing director of the Avendus Future Leaders Fund, highlighted that the wealth management sector is poised to be a primary beneficiary of shifting financial behaviors. He noted that the proportion of the population actively investing has seen a marked increase in recent years.
PPFAS is known for its value-investing philosophy and is the sponsor of one of India's prominent mutual funds. The capital infusion is expected to support the firm's growth trajectory as it scales its operations to meet the rising demand for professional financial services. Source: Avendus Future Leaders Fund.
