Private Equity Liquidity Events
Prime Securities to acquire majority stake in digital lender DhanLAP
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Mumbai-based Prime Securities Ltd has acquired a 41.68% stake in Chennai-based Ark Neo Financial Services, the fintech company which operates the loan-against-securities platform DhanLAP . The subscription to optionally convertible debentures will increase its shareholding above 50% upon conversion with Prime Securities investing additional INR 7 crore.Founded in 2021 by C Chandrasekhar, DhanLAP enables retail investors to secure instant loans against mutual funds, shares, and insurance policies without liquidating their investments.
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DhanLAP was a part of the seventh edition of Chiratae Ventures Innovators Program.