PE-VC Fund Investments
WhiteOak Capital acquires 0.33% stake in wealth manager PPFAS for Rs.52-Cr
Rajeev Thakkar, the chief investment officer of PPFAS Mutual Fund, has sold a 0.33% stake in the fund’s Mumbai-based unlisted parent company, Parag Parikh Financial Advisory Services (PPFAS), to the alternative investment fund (AIF) managed by WhiteOak Capital. The deal values PPFAS at INR 15,800-Cr.The company’s promoters Neil Parikh and Khushboo Parikh recently sold an under 1% stake to Avendus Future Leaders Fund III for INR 140-Cr, which valued the firm at INR 14,000-Cr.As of March 31, 2026, the Parikh family members collectively held approximately 74.5% of the company, while Rajeev Thakkar held a 6.21% stake as the largest non-promoter shareholder. PPFAS reported revenue from operations of INR 596-Cr and a net profit of INR 346-Cr for the fiscal year 2026.
For FY26, Parag Parikh Financial Advisory Services had reported about INR 3 Cr in Operating Income and about INR 27 Cr in PAT.
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