Avendus fund buys PPFAS stake worth Rs 140 crore from promoters

Avendus Future Leaders Fund acquired just under a 1 percent stake in unlisted mutual fund house PPFAS (Parag Parikh Financial Advisory Services) for about Rs 140 crore through a secondary transaction from promoters Neil Parag Parikh and Khushboo Joshi. PPFAS reported AUM of Rs 1.48 lakh crore as of March 31, 2026, up 39 percent year-on-year, and its Parag Parikh Flexi Cap Fund manages assets of Rs 1.10 lakh crore. Avendus said its third fund has deployed nearly 30 percent of its targeted Rs 1,800 crore corpus and plans five to six more investments over the next year.