On November 16, the company said that Amisha Vora, co-owner and joint MD of Prabhudas Lilladher (PL) Group, had acquired the holding company, raising its stake to 96% from 24%.

Vora, a Chartered Accountant by training, will now serve as Chairman and MD of Prabhudas Liladhar. The statement said that SEBI, BSE, NSE, RBI, and other regulators have approved the acquisition.

The release said Vora’s move follows company chairman Arun Sheth’s decision to retire at the age of 75 after 50 years at PL. Joint managing director Dilip Bhat is leaving after 22 years. Vice Chairman Dhiren Sheth will continue as a non-executive director through his position on the Board.

The statement said that Vora has been with Prabhudas Lilladher since 2000 and became joint MD in 2007 with a 24% stake. During her 20-year career with the company, she has played a key role in diversifying and strengthening the Group.

She has 35 years of experience in equity research, institutional sales, investment banking and corporate advisory, retail brokerage and wealth management, fund management and non-bank financial corporate business.