Prime Securities Expands Portfolio with Strategic Stake in DhanLAP

Prime Securities Limited has acquired a 41.68% stake in Ark Neo Financial Services Private Limited, known as DhanLAP. The acquisition aims to strengthen Prime Securities' portfolio, with future plans to increase its stake. DhanLAP, a fintech platform, offers digital loans using mutual funds and stocks as collateral.

Prime Securities Limited, a leading investment banking and corporate advisory firm, has acquired a significant 41.68% stake in DhanLAP, a Chennai-based fintech platform under Ark Neo Financial Services Private Limited. This strategic move is set to enhance Prime's portfolio by tapping into the growing fintech sector.

This acquisition is in line with Prime Securities' broader diversification strategy. The company is set to infuse capital into DhanLAP through optionally convertible debentures, which upon conversion, will see Prime's holding exceed 50%. The total investment amounts to INR 700 lakhs.

DhanLAP, launched in October 2021, allows retail investors to obtain loans against their financial holdings, such as mutual funds, shares, and insurance, thus addressing immediate financial needs without disrupting long-term wealth-building plans. The synergy between DhanLAP and Prime is expected to foster innovation and scale the platform further.

(With inputs from agencies.)