A Loan Against Shares (LAS) is a type of loan where borrowers can pledge their existing shares, mutual funds, or other securities as collateral to get a loan from a financial institution. The loan amount is typically a percentage of the market value of the securities pledged. LAS provides borrowers with a way to leverage their investments without selling them, allowing them to access funds for various purposes such as business expansion, personal needs, or investments, while still retaining ownership of their securities.