Amisha Vora, Co-Owner and Joint Managing Director, Prabhudas Lilladher Group, has increased her stake in the broking group to 96 per cent from 24 per cent for an undisclosed sum by buying out stake from Arun Sheth, Dhiren Sheth and Dilip Bhat..

Amisha Vora will now be the Chairperson and Managing Director of the PL Group.

According to a press release by PL Group, the acquisition has been approved by SEBI, the BSE and the NSE, the RBI, and the other regulators of the respective PL Group companies.

The banks that extend credit facilities to the group have also approved the change in shareholding, the release added.

Quant-based research

“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,” said Vora.

She is also focused on building a team of qualified professionals to fuel the next leg of the broking house’s journey.

Arun Sheth, Chairman of the Group, after 50 years in the PL Group and upon crossing 75 years of age, has decided to retire. Dilip Bhat, Joint MD, would also be moving on after 22 years. The group’s Vice-Chairman, Dhiren Sheth, will continue his association through his position on the Board of Directors as a Non-Executive Director.

Vora has been associated with the PL Group since 2000 and became a 24 per cent stake owner and Joint MD of the group in 2007.

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