Prabhudas Lilladher Advisory Services Limited Unlisted Shares

About Company

Prabhudas Lilladher Advisory Services Limited

1. Introduction

PLASPL is a SEBI-registered, fee-based wealth and financial advisory arm operating under the PL Capital / Prabhudas Lilladher group — one of India's oldest financial services houses, originally founded as a stock broking firm in 1944 by Mr. Prabhudas Lilladher Sheth. It's a SEBI-registered, fee-based unit under PL Capital, offering personalized wealth advisory services and curated investment ideas, with products spanning investment, trading, and mutual fund strategies.

2. Business Model / How It Earns Revenue

• It runs on a fee-based advisory model rather than pure commission-based broking — offering curated, personalized investment strategies to clients.

• It also manages margin funding, wealth and asset management operations, and contributes to the promoter's share in Alternative Investment Funds (AIFs), while complying with AMC guidelines.

• The company plans to build itself into a leading quant asset management firm, with new strategies like Aqua and quant-based mutual funds.

• Regulatory filings classify PLAD's principal activity as "Other financial intermediation n.e.c." (NIC 6599), which accounts for 100% of turnover.

3. Revenue Sources

1. Advisory fees — M&A, restructuring, and strategic deal advisory

2. Underwriting & placement fees — equity/debt issuances (IPOs, FPOs, rights issues, QIPs, etc.)

3. Valuation and restructuring fees

4. Success fees — linked to transaction completion and funds raised

It serves corporates, promoters, and investors, leveraging the broader PL Group’s capital markets experience.

4. Role Within the PL Group

PLAD sits within the broader Prabhudas Lilladher (PL) Group, which offers a full suite of financial services:

• Equity & Derivative Broking

• Investment Banking & Corporate Advisory

• Portfolio Management Services (PMS)

• Online Trading, IPOs, Mutual Funds

• Loan Against Shares

• Real Estate / Home Loans

Additionally, PLAD:

• Manages margin funding, wealth, and asset management operations

• Contributes to the promoter's share in Alternative Investment Funds (AIFs), in compliance with AMC guidelines

5. Scale

Prabhudas Lilladher manages over ₹26,000 crore across 160,000 clients, including 4,000 HNIs and 100 institutional clients.

Sheth family (founders): ~90.64% | Funds: 3.66% | Enterprises: 1.51% | Angels: 0.46%

6. Leadership

• Zarin Bomi Daruwala – CEO

• Amisha Niraj Vora – MD (28+ yrs finance; drove institutional biz growth)

• Dhiren Prabhudas Sheth, Rajeev Dalal, Siddharth Niraj Vora – Directors

• Venkat Subramanian, Nihar Niranjan Jambusaria – Independent Directors

Rajeev Dalal: 35+ yrs corporate finance, 100+ M&A/PE deals, ex-EY partner.

7. Recent Development: Preferential Allotment & IPO Plan

• Raised funds via preferential placement of equity shares at ₹253/share (min. investment ₹1 crore), at a pre-money valuation of ₹1,500 crore. (June 2024).

• Use of funds: Expansion of margin funding book, growth of wealth/asset management operations, contribution to promoter's share in AIFs, and AMC compliance. It aims to become a leading quant asset management firm, with new strategies like Aqua and quant-based mutual funds.

• Legal status updated from Private Limited to Public Limited (per MCA records) around the same period — typically a pre-listing step.

• IPO timeline: Now expected in 3–5 years to provide an exit for investors (an earlier 2024 report had pegged this at 2 years, suggesting the horizon has since been pushed out).

• No confirmed DRHP filing or firm IPO date yet — remains a stated intention, not an active listing process