Avendus Invests Rs 140 Crore in PPFAS via Share Deal
Avendus Future Leaders Fund has picked up a stake in PPFAS through a Rs 140 crore secondary share purchase from existing promoters. This gives one of India’s fastest-growing mutual fund houses a fresh institutional backer. Avendus bought the shares directly from existing promoters rather than from the company itself. The... The post Avendus Invests Rs 140 Crore in PPFAS via Share Deal appeared first on Equitypandit.
Avendus Future Leaders Fund has picked up a stake in PPFAS through a Rs 140 crore secondary share purchase from existing promoters.
This gives one of India’s fastest-growing mutual fund houses a fresh institutional backer.
Avendus bought the shares directly from existing promoters rather than from the company itself. The sellers were Neil Parag Parikh, PPFAS’s Chairman and CEO, and Khushboo Joshi, President of Wealth Management. The size of the stake and the valuation behind the deal were not disclosed.
It’s part of a bigger push. The investment comes as Avendus Future Leaders Fund III works toward a final close of around Rs 1,800 crore by the end of July. The fund is about 30% deployed so far, with five to six more investments planned over the next 12 months.
PPFAS has quite a track record behind it. Founded in 1992, the firm now manages assets worth around Rs 1.43 lakh crore as of June 2026. Its flagship scheme, the Parag Parikh Flexi Cap Fund, ranks among India’s largest actively managed equity funds.
The business has grown well beyond mutual funds too, expanding into wealth management, GIFT City based funds, private equity and offerings under the National Pension System.
Neil Parag Parikh called the deal an important milestone as PPFAS works to build a broader asset management platform. Avendus said the investment fits its strategy of backing market leading businesses with long term growth potential, citing rising household participation in financial assets as a key driver for India’s asset management industry.
Across its funds, Avendus FLF now manages more than Rs 4,000 crore in assets. Past investments include Lenskart, SBI General Insurance, Juspay, Zeta, Veritas Finance, Aragen Life Sciences and Licious.
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