Amisha Vora, a co-owner and Joint Managing Director of Prabhudas Lilladher (PL) Group, has increased her holding in the company from 24% to 96% and subsequently emerged as the chairperson and MD of the group, the financial services firm said in a statement on Wednesday.
The acquisition has been approved by SEBI, BSE, NSE, the RBI, and the other regulators of the respective PL Group companies. Banks that extend credit facilities to the group have also approved the change in shareholding, as per the communique.
“My mission is to ensure that we at PL continue to work towards converting our client’s savings into wealth. We will continue to build our businesses on these core values of PL, which are ingrained in our DNA,” said Ms. Vora.
Arun Sheth, chairman of the Group, who has put in 50 years in service, has decided to retire, while Dilip Bhat, Joint MD, would also be moving out. Ms. Vora had been associated with the PL Group since 2000 and became a 24% stake owner in 2007.
