Prime Securities acquires majority stake in fintech platform DhanLAP
Prime Securities Limited has acquired a 41.68 per cent strategic stake in Ark Neo Financial Services, the Chennai-based fintech company behind the loan-against-securities platform DhanLAP, the company announced on Wednesday. The total investment of ₹70 million will increase to over 50 per cent through optionally convertible debentures.
The shares of Prime Securities Limited were trading at ₹294.20 down by ₹5.85 or 1.95 per cent on the NSE today at 1.10 pm.
The digital platform, launched in October 2021, enables retail investors to secure instant loans against financial products like mutual funds, shares, and insurance without liquidating their investments. Founded by serial entrepreneur C Chandrasekhar, DhanLAP aims to provide accessible financial solutions that help investors maintain their long-term wealth strategies.
Prime Securities’ Director Akshay Gupta highlighted the strategic alignment, noting that DhanLAP’s technology-driven approach fits the company’s expansion into scalable financial services. The acquisition follows Prime Securities’ recent move into wealth management through its subsidiary Prime Trigen Wealth Ltd.
The investment comes amid growing retail investor participation in financial markets, with DhanLAP positioning itself to democratise loan services previously reserved for high-net-worth individuals through large private banking firms.
