Promoter integrity
Clean record. The owner still owns most of the business.
Buy private. Exit public.
We invest in Indian companies before they list, then aim to exit through the stock market.
To execute this vision, Promore Group introduces the Promore Opportunities Fund, managed under our alternative investment arm, Promore AIF.
RegulatorSEBI, Category II AIF
RegistrationIN/AIF2/26-27/2186
Minimum₹1 crore, Reg. 10(c)
Most of the growth happens before the IPO.
By the time a good Indian company lists, its early years are already behind it. We try to get in before that.
400 million
people joining the formal economy
Through GST, UPI and Aadhaar. Formal books are books we can actually check.
$5,000
income per person by 2030
Up from $1,574 in 2015. Most companies serving that shift are still private.
₹26,000 Cr
into funds every month
Household money moving out of gold and property. It gives new listings somewhere to land.
Three problems that we solve
Access
You cannot get in
Good private deals are not advertised. They move through people who already know each other.
Price
You buy late
Buy at listing and you pay the listing price. The real negotiation happened years earlier.
Risk
You drift
Without hard limits, a portfolio ends up concentrated without anyone deciding to concentrate it.
190+
companies in the IPO pipeline
₹1.14 trillion
expected to be raised
84
already cleared by SEBI to list
INVESTMENT FRAMEWORK
Seven tests. Every deal.
A company clears all seven or we do not buy it. The letters spell our name, which makes them hard to forget and harder to skip.
P
R
O
M
O
R
E
Revenue proven
Real sales, already happening. No pilots, no pitches.
Operating profits
Making money before we invest, not after.
Margin of safety
We fix our price first. If the deal moves past it, we walk.
Ownership limits
Hard caps on any one company, any one sector, any one group. Set before the deal, not during it.
Route to exit
We know how we get out before we get in.
Earnings trajectory
Profits growing for reasons we can point to.
If a deal does not spell PROMORE, we do not do it.
And after it passes
Before we spend
Screened first, paid for second
The seven tests come before diligence, not after. Most companies leave here, which is the point. We have not spent anything on them yet.
Before money moves
Checked by people we do not employ
Outside legal, financial, technical and tax firms review the business. They are paid to find problems, not to close the deal.
While we hold
Watched, not filed
Reporting, board process, and getting the company ready to list. The exit was agreed at entry, so the work is making it happen.
THE INTEGRITY CONSTRAINT
What we will not do
Discipline is defined by refusals. Five of ours are absolute.
01
No chasing what is hot
A price moving up is not a reason to buy.
02
No rushing to spend
Money waits for a deal that passes. Not the other way round.
03
No pre-revenue bets
Real sales and real profits before we put money in.
04
No borrowing against the book
Positions are funded from money investors committed.
05
No exceptions to the caps
The limits hold, however good the deal looks.
Intelligence with Integrity is not a tagline. It is the operating constraint.
WHAT WE BELIEVE
Intelligence with Integrity
Five convictions govern every rupee we deploy, across every fund.
01
Numbers over narratives.
We underwrite balance sheets and cash flows, never stories. If the numbers do not hold, the narrative does not matter.
02
Entry price is the risk decision.
Returns are made when capital goes in. We would rather miss a deal than overpay for one.
03
Promoters matter more than projections.
We back aligned, majority-invested promoters with clean histories - the variable no model can capture.
04
Both markets, one discipline.
Listed or unlisted, every position clears the same filter, the same limits, the same exit test.
05
Integrity compounds.
Trust wins the next deal, the next promoter, the next decade. It is our most durable source of return.
Where this fund sits.
Promore Group has been around since March 2020, growing from a single wealth-advisory practice into a group spanning wealth management, alternative investments, business advisory and strategic investments. It now serves over 900 clients from five offices across Ahmedabad and Mumbai.
This fund sits inside Promore AIF, the group's alternative investment arm, but runs on its own. Its own SEBI registration. Its own trustee, custodian and auditor, all separate from the group. That is not a special exception. Every Promore business operates as its own legal entity under its own regulator, so nothing is blurred across the group, and this fund is no different. The group's name and relationships help us find deals. It has no say in what we buy or sell. That decision sits with the fund manager alone.
The people behind it.
Three partners, a fund manager, and an ecosystem of independent, regulated institutions that check everything before money moves.
Ketan Acharya
Co-Founder, Promore GroupAn MBA with a diploma in information technology from GLSIIT, and second generation in the markets. 25+ years in financial services and wealth management, advising and investing across asset classes. He works on group strategy, business development, and the long-term client relationships the group runs on.
CA Vinit Jain
Co-Founder, AIF and BrokingChartered Accountant. Three and a half years in statutory and internal audit, working in Ind-AS and IFRS, then moved to the buy side in 2024 at a private equity and investment banking platform, where he executed over ₹100 crore of investments. He ran the full cycle there: sourcing, modelling, closing, and watching what happened afterwards. He advises promoters, family offices and UHNW clients on fund-raising, M&A and growth.
CA Jayesh Parmar
PartnerFCA and B.Com (Hons). Managing partner of the Mumbai practice and head of assurance. Thirty years advising on growth strategy and fund raising through private equity, IPOs and GDRs, and on domestic and cross-border M&A. He works across international tax, due diligence, India-entry strategy and valuations, and sits on the boards of several listed and unlisted companies.
We do not hold your money. A SEBI-registered trustee gives investors independent oversight. A separate custodian safekeeps and settles the fund’s assets. An independent fund accountant computes and reports the NAV. A registrar and transfer agent manages investor records and allotments. Outside tax and legal advisers handle regulatory filings and documentation. We decide what to buy. That is all we do.
REQUEST THE FUND DECK
Be early. Be disciplined.
This isn't a download link it's a direct line to the fund manager. Submit your details below and the Promore team will personally send you the Promore Opportunities Fund deck: the full presentation covering the opportunity, fund terms, the PROMORE Filter, the protection structure, current pipeline and the partners' track record.
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