Tamohara Investment Managers

What Tamohara Investment Managers does

Tamohara Investment Managers Pvt. Ltd. is a SEBI-registered boutique investment management and advisory firm headquartered in Mumbai, India, founded in 2014 by Anurag Khetarpal and Deepak Singh Tanwar. The firm holds dual SEBI licenses — a Portfolio Management Services (PMS) registration (INP000008020) and a Registered Investment Advisor (RIA) registration (INA000017842) — enabling it to offer both discretionary managed portfolios and pure advisory services, plus a BASL membership (ID 1986). It serves two customer segments: eligible Indian high-net-worth individuals and institutional investors, with an offshore footprint via its FPI (Annantam) vehicle to reach non-resident and international clients.

The firm's core proposition is fundamental, cash-flow-driven equity investing codified under five pillars: Higher Rate of Change, Market Share Gains, Improving ROE, Declining Leverage, and Superior/Increasing Cash Flow generation. Its flagship PMS strategy, Truffle Strategy, is positioned as a discretionary long-term equity offering built on rigorous fundamental research and 'second-order thinking.' The RIA arm provides advisory guidance over pre-allocated client corpus for investors who prefer to execute trades independently. Supporting sub-brands — Ashmayu (quarterly newsletter), Snapshots that Wow!, Investors' Patshala, and WealthBaskets — function as content and thematic portfolio layers around the core mandates, while the firm's PMS portal (wealthspectrum) provides client-facing portfolio access.

Tamohara generates revenue through recurring, fee-based engagements on PMS mandates and RIA advisory services, with pricing negotiated directly via [email protected]. It is privately held, founder-owned, and bootstrapped, with no disclosed external funding, parent company, or M&A activity. The investment team is anchored by CIO Sheetal Malpani (CFA, 14+ years across HDFC Securities, Brics Securities, and Enam Securities) and Fund Manager Harini Dedhia (CFA, NYU, 10+ years in equity markets, prior US hedge fund experience), supported by a Senior Vice President of Investments and a small operating team of 11–50 employees.

Name

Tamohara Investment Managers

Legal name

Tamohara Investment Managers Pvt. Ltd.

Website

https://tamohara.net

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Tamohara Investment Managers is a SEBI-registered Mumbai-based boutique Portfolio Management Services (PMS) and Registered Investment Advisor (RIA) firm offering fundamental, cash-flow-driven equity strategies — including its flagship Truffle Strategy — to high-net-worth individuals and institutional investors in India and offshore via an FPI vehicle.

Ownership category

akta.pro rank

Product category

Investment Management Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

akta.pro secondary industries

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA), Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

Keywords

• Portfolio management services
• Investment advisory services
• Wealth management
• Equity investment management
• Asset management

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Portfolio Management Services (PMS): Tamohara provides customized investment portfolio management for individuals and institutions, charging fees for portfolio management services. PMS registration number: INP000004763 (as stated in Disclaimer) and INP000008020 (as stated in Privacy Policy).
2. Registered Investment Advisory (RIA): SEBI-licensed investment advisory services providing guidance to equity investors for independent trade execution within pre-allocated corpus. Advisory fees are charged for guidance provided. RIA registration number: INA000017842.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Tamohara Investment Managers is a SEBI-registered Portfolio Management Service (PMS) provider and Registered Investment Advisor (RIA) that crafts and manages customized investment portfolios for eligible individuals and institutional investors. The firm offers boutique alternative investment solutions with dynamic capital allocation tailored to each client's specific goals, alongside advisory services enabling investors to independently execute equity trades within a pre-allocated corpus.

Product overview

Tamohara Investment Managers operates as a SEBI-registered Portfolio Management Service (PMS) provider and Registered Investment Advisor (RIA), offering boutique alternative investment solutions to eligible individuals and institutional investors. The company provides two core services: PMS for customized portfolio management with dynamic capital allocation, and RIA for advisory services enabling independent trade execution. Their flagship Truffle Strategy and offshore FPI (Annantam) structure represent their primary investment approaches. The company also produces educational content through Ashmayu newsletter and Snapshots that Wow! series, along with the Investors' Patshala educational video series.

Differentiator

Problem solved

Functional benefit

Brands

• Truffle Strategy: Flagship portfolio management strategy focusing on equity investments with long-term wealth creation
• FPI (Annantam)
• Tamohara Investment Advisors
• Ashmayu
• Snapshots that Wow!
• Investors' Patshala
• WealthBaskets

Products and services

• Portfolio Management Services (PMS)

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• IIFL Wealth Management: One of India's largest listed wealth managers offering PMS, AIF, and advisory services to UHNIs and institutions. Competes with Tamohara for the same HNI/institutional mandate pool but at materially greater scale and with a multi-product platform.
• Kotak Wealth Management: Private banking and wealth arm of Kotak Mahindra Bank offering PMS, advisory, and structured products to UHNIs and families. Larger balance-sheet-backed incumbent competing for the same high-end Indian HNI segment as Tamohara.
• Motilal Oswal Wealth Management: Large Indian broking-and-wealth group offering PMS, portfolio advisory, and distribution to retail and HNI clients. Broader product portfolio and significantly larger scale than Tamohara, but overlapping in core PMS offering and equity-research-led philosophy.
• Prudent Corporate Advisory: Listed Indian wealth distribution and PMS platform serving HNI and mass-affluent clients. Comparable PMS product but operates at materially larger distribution scale than Tamohara's boutique model.

Direct peers

• ValueQuest Investment Advisors: Boutique Indian PMS firm applying fundamental, cash-flow-driven equity research to HNI and institutional clients. Comparable in core offering (discretionary PMS), customer segment, and time-horizon philosophy to Tamohara.
• ASK Wealth Advisors: SEBI-registered Indian wealth management firm offering PMS and advisory services to HNI and institutional clients. Directly competes in the same boutique-to-mid-scale PMS segment as Tamohara with overlapping client profiles.
• Ambit Wealth Advisors: Indian wealth management arm of the Ambit Group offering PMS and portfolio advisory to HNIs and family offices. Comparable product set (PMS + advisory) and fundamental-research-driven approach targeting the same HNI segment.
• Marcellus Investment Managers: India-based boutique PMS provider focused on long-term concentrated equity portfolios using fundamental research, with a Similar 'invest in businesses, not stocks' philosophy and family-office/HNI client base. Directly comparable in size, philosophy, and customer profile to Tamohara.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/tamoharainv
• LinkedInlinkedin.com/company/tamohara-investment-managers
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tamohara Investment Managers