Primary markets
Anchor investor participation in mainboard and SME IPOs, pre-IPO placements and QIPs of quality issuers.
SEBI Category III Alternative Investment Fund
Patient capital for
India's next listings.
A multi-strategy fund partnering with issuers, lead managers and intermediaries across India's primary and secondary markets — with a disciplined, research-driven approach to company selection and risk.
SEBI registrationIN/AIF3/25-26/2108
CategoryCategory III AIF
StructureOpen-ended
InceptionOctober 2025
TrusteeAxis Trustee Services
Sector coverage: capital market players, gems and jewellery, gold lenders, specialty chemicals, and waste management.
About the fund
A flexible mandate, applied with discipline.
Parshwanath Capital Ventures Fund is a SEBI-registered Category III Alternative Investment Fund investing across the Indian capital markets with a flexible, multi-strategy mandate.
The Fund partners with issuers, lead managers and intermediaries to deploy committed capital across primary and secondary market opportunities. Company selection is research-led and sector-agnostic, with a preference for scalable businesses, clean governance and credible promoter track records.
Fund particulars
- SEBI registration
- IN/AIF3/25-26/2108
- Category
- Category III AIF
- Inception
- October 2025
- Structure
- Open-ended
- Investment manager
- Parshwanath Fund Managers LLP
- Fund manager
- CA Deep Dalal
- Trustee
- Axis Trustee Services Limited
The mandate
Committed domestic capital, with a decision cycle that respects your timetable.
We evaluate early, decide internally, and participate repeatedly — rather than appearing opportunistically on a single book.
Category IIISEBI classification
Open-endedFund structure
Oct 2025Inception
AhmedabadBased in
Investment strategy
Four ways we participate.
One mandate, deliberately broad — so capital can move to wherever the risk-adjusted opportunity actually is.
Primary
Listed equities
High-conviction positions in listed companies, with flexibility for long/short exposure as permitted for Category III AIFs.
Special situations
Rights issues, buybacks, open offers and event-driven opportunities across market capitalisations.
Company selection
Sector-agnostic, with a preference for scalable businesses, clean governance and credible promoter track records.
For issuers & lead managers
What we bring to the table.
A name you can rely on — on the anchor book, on the investor list, and across repeat issues.
Committed domestic capital
Domestic institutional capital with a swift internal evaluation cycle — a clear answer inside your timetable.
Repeat participation
We participate across issues rather than opportunistically, and aim to be a reliable presence on your anchor and investor lists.
Long-term ownership
An ownership orientation supporting quality price discovery and stable post-listing shareholding, rather than listing-day churn.
Early-stage evaluation
Willing to look at opportunities early — including at DRHP and pre-filing stages, under NDA where required.
Our process
How an opportunity moves through the desk.
Five stages, applied consistently — the same discipline whether the opportunity arrives at DRHP stage or on the secondary market.
Early engagement
Reviewed well before the price band — at DRHP or pre-filing stage, under NDA where needed.
Fundamental research
Business, governance and promoter analysis, with modelling before any number is discussed.
Disciplined valuation
Intrinsic value across sectors and market caps, with margin of safety as a requirement.
Swift decision
A short, accountable chain means a clear answer inside the issue's actual timetable.
Ownership through cycles
Held as long-term stakes, supporting price discovery and stable post-listing shareholding.
Sector coverage
Where we already have depth.
The mandate is sector-agnostic. These are the areas the desk follows most closely.
Capital market players
Brokers, exchanges, depositories and the intermediaries closest to market flow.
Gems & jewellery
Inventory discipline and promoter credibility separate the durable from the cyclical.
Gold lenders
Secured lending franchises where underwriting quality outweighs headline loan growth.
Specialty chemicals
Scalable manufacturing with defensible processes and long customer relationships.
Waste management
Infrastructure-like businesses with contracted revenue and a regulatory tailwind.
Leadership
The people behind the fund.
A small, accountable team — the person who evaluates the opportunity is the person you speak to.
Wealth is built by owning quality businesses patiently — not by trading them.
CA Deep DalalFund Manager
A Chartered Accountant with a research-first approach to the Indian capital markets, leading the Fund's investment process across primary and secondary opportunities. Previously in Private Equity Fund Accounting at SS&C GlobeOp; an invited speaker at ICAI on wealth management and equity investing.
- Chartered Accountant · ICAI
- NISM Series XIX-E
- NISM Series XV
- Ahmedabad
Jignesh ShahSponsor
Sponsor of Parshwanath Capital Ventures Fund. [Biography to be supplied by the client — business background, industry experience and the rationale for sponsoring the Fund. Two to three sentences, matching the tone above.]
- Credential one
- Credential two
- Credential three
Investment philosophy
Buy quality businesses at sensible prices, hold with conviction, and let time and compounding do the heavy lifting.
Every investment is treated as a long-term ownership stake rather than a trade — prioritising durable fundamentals, margin of safety and patient capital over short-term market noise.
CA Deep Dalal · Fund Manager
Insights
Notes from the desk.
Occasional commentary on primary market activity, valuation and the sectors we follow closely.
Reading a DRHP: what we look for first
[Placeholder — client to supply.] The handful of disclosures that shape an anchor decision long before the price band is set.
Gold lenders and the cost of trust
[Placeholder — client to supply.] Why underwriting discipline, not loan growth, is the number that matters in this sector.
The case for holding through cycles
[Placeholder — client to supply.] What compounding actually requires from an investor, and why most portfolios never find out.
Get in touch
Let's talk about the issue.
Issuers, lead managers and intermediaries are welcome to reach out directly. We're happy to evaluate opportunities early, including at DRHP and pre-filing stages, under NDA where required.
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Registered office
SF / 3D-3 Nikumbh Complex, Near Mudra House,
Law Garden, CG Road, Ellisbridge,
Ahmedabad, Gujarat — 380 006 -
Telephone