During 2022-2023, a group, comprising of some prominent value investors and capital market professionals, was mobilized by Mr. Aftab Ahmad Chaudhry, which managed the equity takeover of LSE’s successor company, Financial Services Limited (LSEFSL). The new owners mainly used the vehicle of Modaraba Al-Mali, an Islamic Investment Fund, to build their equity position in LSEFSL, besides using individual investments to acquire a substantial stake in LSE’s successor company.

The new owners' group included professionals like Mr. Aslam Khaliq - Chairman of Hunar Foundation & Reckitt Benckiser, Mr. Aftab Ahmad Chaudhry, the longest serving MD/CEO of Lahore & Islamabad Stock Exchanges, and Mr. Amir Zia, the former Group CFO of Treet Corporation. The group also included entrepreneurs like Mr. Danish Elahi, the CEO of Elahi Group of Companies, Mr. Mohammad Iqbal, the founder of BMA Capital, and Mr. Zahid Latif Khan, one of the leading stockbrokers and a prominent business community leader of Pakistan.

Upon acquiring the management control of the company, the new owners earnestly started the demerger of LSEFSL into three companies with a view to unlocking its enterprise value, besides repositioning the group companies into viable operating companies. The demerger of LSEFSL was completed during Jun 2023, which also resulted in the reverse listing of two newly formed group companies, namely LSE Ventures Limited (the new parent company) and LSE Proptech Limited (the property holding company) at Pakistan Stock Exchange. Under this first consolidation, LSE Ventures Limited (LSEVL) became the parent company holding all liquid assets and other legacy investments in companies like Pakistan Credit Rating Agency (PACRA), National Clearing & Settlement Company Limited (NCCPL), Central Depository Company (CDC) and Pakistan Mercantile Exchange (PMEX). LSE Proptech Limited (LSEPL) was transferred the building and investment property assets of former LSE. While LSFSL was made to continue functioning as an NBFC.

In 2024, the new owners further consolidated their companies through another court approved scheme of arrangement, which resulted in the merger of LSE PropTech Limited and Modaraba Al-Mali with LSE Capital Limited (LSECL). This merger repositioned LSECL as the parent/holding company of the informally constituted LSE Group, by way of transferring the majority equity position in LSE Ventures Limited previously held by Modaraba Al-Mali.