Parag Parikh Unlisted Shares
Parag Parikh Financial Advisory Services Ltd. (PPFAS)
INE0FGC01012
Incorporation Date: 12-Oct-1992
Listing Status: DRHP Not Filed
About Parag Parikh Unlisted Shares
Overview of Parag Parikh Unlisted Shares
Business Overview
Parag Parikh Financial Advisory Services Limited (PPFAS) is an investment advisory firm that was founded in 1992 by stock market veteran Mr. Parag Parikh.PPFAS provides investment advice and services, including portfolio management, mutual funds, financial planning, equity research, and stock broking, to help clients achieve their financial goals.
Products and services:
The products and services offered by us broadly include :
Retail and Institutional Broking
Wealth Management Services
Portfolio Management
Financial Planning
Subsidiary:
PPFAS Asset Management Private Limited which manages and operates the mutual fund schemes and PPFAS Trustee Company Private Limited which acts as the trustee for PPFAS Mutual Fund are wholly-owned subsidiaries of Parag Parikh Financial Advisory Services (PPFAS).
Shareholding Pattern
|
Shareholding Above 5 % |
Holding % |
|
Geeta P Parikh |
75.35 |
|
Rajeev Thakkar |
5.88 |
PPFAS Mutual Fund Offerings
PPFAS Mutual Fund offers the following six schemes :
i)Parag Parikh Flexi Cap Fund
ii)Parag Parikh ELSS Tax Saver Fund
iii)Parag Parikh Liquid Fund
iv)Parag Parikh Conservative Hybrid Fund
v)Parag Parikh Arbitrage Fund
vi)Parag Parikh Dynamic Asset Allocation Fund
Parag Parikh Financial Advisory Services Limited (PPFAS Limited) is among India's first SEBI Registered Portfolio Managers, having secured their license in 1996.
Portfolio Management at PPFAS
PPFAS provides two portfolio management schemes:
- Cognito: A flagship Discretionary Portfolio Management Scheme that has been operational since 1996. Currently, the firm is not accepting new clients under this scheme.
- Multi-Asset Non-Discretionary Strategy: In this non-discretionary portfolio management service, PPFAS acts as an advisor, guiding clients through investment decisions, while the client remains actively involved in the final decision-making process.
Management Details
Neil Parag Parikh |Director |

Neil has been with the firm since June 2004, starting in research before moving to Institutional Equity Dealing. He took a break in 2008 to pursue an MBA at IESE Business School and rejoined in 2010 as Associate VP, Marketing. Neil holds a Bachelor’s in Economics from the University of North Carolina.
Mr. Rajeev Thakkar | Director |

Rajeev Thakkar has over 15 years of experience in capital markets, including investment banking, corporate finance, and securities broking. He joined PPFAS in 2001, quickly becoming Head of Research. In 2003, he was appointed Fund Manager for PPFAS’s flagship Portfolio Management Service scheme, “Cognito.”
Insights of Parag Parikh Unlisted Shares
Executive Insights
Parag Parikh Financial Advisory Services Limited (PPFAS) continues to demonstrate strong operational and financial performance across its asset management, portfolio management, and wealth advisory arms
. Driven by high retail investor stickiness in its flagship mutual fund strategies, the group crossed the ₹1.5 Lakh Crore QAAUM milestone in FY26 . By maintaining a debt-free balance sheet and a lean operating cost structure, PPFAS has translated top-line asset growth into compounding bottom-line profitability . Consolidated Key Financials (FY24 – FY26)
Category (in ₹ Cr.) FY24 FY25 YoY % (FY25) FY26 YoY % (FY26) Net Revenue 286.27 428.83 +49.80% 601.84 +40.35% Total Op Cost 66.39 87.24 +31.41% 126.29 +44.76% EBITDA 219.88 341.59 +55.35% 475.56 +39.22% PBIT 217.11 336.54 +55.01% 468.30 +39.15% Profit Before Tax (PBT) 216.93 335.78 +54.79% 467.00 +39.08% Income Tax 45.89 89.15 +94.27% 119.45 +33.99% Profit After Tax (PAT) 171.12 246.63 +44.13% 347.56 +40.92% Comprehensive AUM & Operational Analysis
1. Multi-Year Mutual Fund QAAUM Trajectory
The group's Quarterly Average Assets Under Management (QAAUM) has experienced exponential multi-year compounding
:
Parameter FY23 FY24 FY25 FY26 3-Year CAGR Mutual Fund QAAUM (₹ Cr.)
33,716 64,296 101,700 152,328 +65.2% Monthly SIP Book (₹ Cr.)
470 727 1,061 1,591 +50.2% Unique Investor Count (Lakhs)
20.21 29.14 42.41 59.38 +43.2% Total Live Folios (Lakhs)
23.10 33.75 49.06 71.98 +46.0% 2. Asset Class & Channel Mix (As of March 31, 2026)
Equity Dominance: Equity-oriented funds constitute 91.09% of total AUM
, which generates higher fee yields compared to debt/liquid strategies . Hybrid schemes account for 5.41% , while Liquid/Arbitrage strategies make up the remaining 3.50% . Direct vs. Intermediary Sourcing: Direct investors account for 28.23% of Equity AUM
, significantly higher than industry averages, lowering overall distribution acquisition friction . The remaining channels comprise RIA/Platforms (39.54%) , National Distributors (17.05%) , Independent Mutual Fund Distributors (14.15%) , and Banks (0.63%) . Geographic Reach & B-30 Penetration: Beyond the Top-5 metropolitan cities (47.77% of AUM)
, PPFAS holds a strong footprint in Tier-2/3 regions . 24.45% of its AUM originates from B-30 (Beyond Top-30) locations , comfortably outperforming the broader mutual fund industry average of 18.84% . 3. Multi-Vertical AUM Breakdown (Group Level)
In addition to its flagship domestic mutual fund operations, the group has diversified into adjacent high-margin wealth and international platforms
:
PPFAS Mutual Fund: Total ending scheme AUM stood at ₹1,47,954.75 Cr as of March 31, 2026 (up from ₹1,06,357.72 Cr in March 2025)
. PPFAS Wealth (Advisory Arm): Assets Under Advisory (AUA) reached ₹1,040 Cr+
(comprising ₹474.86 Cr SEBI-reported AUM and ₹565.31 Cr client held-away assets) . PPFAS GIFT City (International Arm): Manages USD 14.71 Million in AUM across outbound retail FoFs and PMS strategies
. Portfolio Management Services (PMS): Total PMS AUM expanded by 578% YoY to ₹547.21 Cr in FY26 (up from ₹80.67 Cr in FY25)
, largely fueled by the newly introduced Advisory Services segment (₹362.70 Cr) . Growth Trajectory & Financial Insights
Strong Top-Line Scaling: Consolidated Net Revenue crossed the ₹600 Cr mark in FY26
, growing 40.35% YoY to ₹601.84 Cr , closely tracking the ~49.8% expansion in quarterly average AUM . Operational Leverage & Margin Health: Operating profit (EBITDA) expanded to ₹475.56 Cr in FY26 (+39.22% YoY)
. Operating cost increases (from ₹87.24 Cr to ₹126.29 Cr) were driven by talent additions, software migration, and GIFT City/pension expansion, but remained well-contained at ~21% of net revenue . Bottom-Line Compounding: Profit After Tax (PAT) grew by 40.92% YoY in FY26 to reach ₹347.56 Cr
. The group delivered a strong Return on Equity (ROE) of 41.91% , supported by a completely debt-free balance sheet .
Financial Charts of Parag Parikh Unlisted Shares
Balance Sheet of Parag Parikh Unlisted Shares
Profit and Loss of Parag Parikh Unlisted Shares
Ancillary of Parag Parikh Unlisted Shares
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Parag Parikh Unlisted Shares
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How to buy Parag Parikh Ltd.?
Below are three ways through which you can purchase Parag Parikh Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to buy Parag Parikh Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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How to sell Parag Parikh Ltd.?
Below are three ways through which you can sell Parag Parikh Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Parag Parikh Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of Parag Parikh Ltd.?
We provide a two way quote on all the shares we deal in. Your buy price for Parag Parikh Ltd. is ₹19900 and your sell price for Parag Parikh Ltd. is ₹18000. The price is based on our estimates and market conditions.
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What is the lock-in period of Parag Parikh Ltd.?
The lock-in period for Parag Parikh Ltd. varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Parag Parikh Ltd.
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Parag Parikh Ltd.
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the Parag Parikh Ltd. price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Parag Parikh Ltd.. The price is also determined from the most recent funding round for Parag Parikh Ltd.. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of Parag Parikh Ltd.?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Parag Parikh Ltd. with us kindly click here.
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What are the financials of Parag Parikh Ltd.?
The financials of Parag Parikh Ltd. which includes the P/L of Parag Parikh Ltd. and the Balance Sheet of Parag Parikh Ltd. is in the financials section (Click on link).
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Where can I find the annual report of Parag Parikh Ltd.?
The annual report of Parag Parikh Ltd. is available in the annual report section (Click on link).
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Is buying Parag Parikh Ltd. legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on Parag Parikh Ltd.?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on Parag Parikh Ltd. and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on Parag Parikh Ltd. once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Parag Parikh Ltd.?
At Altius Investech, our approach to sourcing Boat Unlisted Share (Imagine Marketing) involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Boat Unlisted Share (Imagine Marketing). This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying Parag Parikh Ltd. from its platform?
Altius Investech stands at being India's fastest growing and leading marketplace for buying and selling unlisted shares. We believe in enabling access to alternative sources of investments at lower entry barriers to private equity investments.
With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
For investors Altius Investech curates investment opportunities in companies at reasonable valuations which are on the verge of an IPO leading to massive value unlocking. Investments are backed by thorough research and sound investment thesis, with a time bound exit plan.
For ESOP Shareholder and existing Investors, we assist them to liquidate their shares even if they are not publicly traded by creating a platform where we find the right buyers and sellers for the best prices.
Altius Investech have been featured in top media news outlets like Economic Times, Financial Express, Money control. Check out about us on these - leading publications (Click on link) Our journey over these years has not just been about numbers; it's been about building trust and reliability.
We at Altius Investech are dedicated to upholding the greatest levels of ethics and transparency, making sure that your investment experience is not only profitable but also safe and reliable.
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