Who we are

Our firm

Pawan Parmeshwar Capital Private Limited, trading as PP Capital, deals in the debt and equity segments for banks, mutual funds, insurance companies, pension funds and corporate treasuries, and acts as an arranger for private placements of debt securities where an issuer appoints us. Working the primary and secondary sides of the same market gives us a complete view of where paper actually clears.

We are registered with the Securities and Exchange Board of India as a stock broker and are members of the National Stock Exchange and BSE, which supervise us as their trading member. Our registration details, compliance framework, grievance redressal process and the disclosures we are required to make are all published in the Investor Corner section of this site.

We do not have retail clients and we do not open accounts of retail clients in the Equity Segment. We only have Institutional clients: Insurance companies, Banks, Mutual Fund Houses and PF Funds.

The business has served institutional clients since 1983, when it began as the proprietary concern Pawankumar Parmeshwarlal. Pawan Parmeshwar Capital Private Limited was incorporated on 21 September 2010, and the business was converted into the company in October 2025. Our exchange clearing numbers were unchanged by that conversion.

Our vision

To be a leading catalyst in India’s debt and capital markets ecosystem, by delivering financial solutions that are value-driven, research-backed and relationship-led.

What we believe

A bond is worth what someone will actually pay for it. Screens give an indication; the real level comes from knowing who is holding what, who needs to move it, and what they will accept today. That knowledge is built by being in the market continuously, not by consulting it occasionally.

Handling client money carries obligations we take seriously: funds go to the clearing corporation allocated in the client’s name, and come back on the client’s chosen settlement cycle by actual payment.

Founders

• Pawankumar Choudhary

  Founder and Chairman

  More than four decades in the equity, debt and derivatives markets. A member of both NSE and BSE, he also served as an advisor to the Indian Railway Zonal Committee, where he argued for the Business Class service during his tenure.

• Bhumit Choudhary, CFA

  Chief Executive Officer and Managing Director

  A CFA charterholder and an alumnus of IIM Indore, he mentors the IIT Kharagpur team for the CFA Research Challenge. He leads the firm's strategy across its institutional business.

Our desk

• Prasad Shetty

  Head of Research

  Leads equity and fixed income research coverage for institutional clients, working with fund managers and CIOs to turn market insight into research notes and investment ideas.

• Shubham Singh

  Money Market Desk

  Runs trading and dealing across certificates of deposit, commercial paper and non-convertible debentures, tracking primary and secondary activity daily for treasury desks and fund managers.

• Pramod Lad

  Operations and Back Office

  Leads operations, back office and institutional desk coordination, covering trade settlement, reconciliation and the day-to-day workflow between the dealing desk and back-end processing.

• Sandeep Modi

  Wealth Clients, UHNIs and Corporates

  Manages relationships with wealth clients, ultra high net worth individuals and corporate accounts across the firm's product range.