Motilal Oswal Financial Services

Indian diversified financial services firm
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  • BSE: 532892
  • NSE: MOTILALOFS
ISININE338I01027IndustryFinancial servicesFounded1987; 37 years ago (1987)FounderMotilal Oswal
Raamdeo AgrawalHeadquartersMotilal Oswal Tower, Prabhadevi, Mumbai, Maharashtra
Key people
  • Motilal Oswal (Chairman & CEO)
  • Raamdeo Agrawal (Chairman)
Products
RevenueIncrease 4,178 crore (US$520 million)[1] (2023)
Operating income
Increase 1,877 crore (US$240 million)[1] (2023)
Net income
Increase 935 crore (US$120 million)[1] (2023)AUMIncrease 45,620 crore (US$5.7 billion)[1] (2023)Total assetsIncrease 22,949 crore (US$2.9 billion)[1] (2023)Total equityIncrease 6,142 crore (US$770 million)[1] (2023)OwnerPromotor (69.53% stake)[1]
Number of employees
7,303 (2023)[1]Websitemotilaloswalgroup.com

Motilal Oswal Financial Services Limited is an Indian financial services company offering a range of financial products and services. The company was founded by Motilal Oswal and Raamdeo Agrawal in 1987.[2][3]

The company is listed on BSE and NSE stock exchanges.[4]

History

Motilal Oswal Financial Services Ltd (MOFSL) was set up by Motilal Oswal and Raamdeo Agrawal as a broking house in 1987.[5]

The company entered into investment banking in 2005, followed by private equity fund in 2006.[6]

In February 2006, Motilal Oswal Financial Services Ltd. acquired Peninsular Capital Markets, a Cochin, Kerala based broking company for Rs. 35 crore.[7] The company tied up with State Bank of India in 2006,[8] Punjab National Bank in 2007 [8] and Axis Bank in 2013[9] to offer online trading to its customers.

In January 2010, Motilal Oswal Financial Services Ltd. set up Mutual fund business named as Motilal Oswal Asset Management Company (MOAMC).[10]

In 2013, Motilal Oswal Financial Services Ltd. established Aspire Home Finance Corporation Limited (AHFCL).[5] The company offers loans for home, construction, composite, improvement, and extension in India.[11]

Management

Listings and Shareholdings

The equity shares of Motilal Oswal Financial Services are listed on the Bombay Stock Exchange,[15] and the National Stock Exchange of India.[16]

Shareholders (as on 31-12-2022) Shareholding (%)[17]
Promoters 69.47%
Mutual Funds 05.89%
Financial Institution/Banks/Insurance 00.00%
Foreign Institutional Investors (FII) 07.35%
Corporate Bodies 00.72%
Individuals 09.15%
NRIs/OCBs 00.38%
ADRs/GDRs NIL
Others 7.04%
Total 100%

Products and services

Motilal Oswal provides products and services related to equity trading, commodity trading and investment advisory services, IPOs and SIPs investment, portfolio management services, and mutual funds investment.[18]

Milestones

Controversies

Motilal Oswal along with a few other top brokers have been accused of various irregularities on NSEL case. Agencies including EOW-Mumbai and SFIO have found the top 5 brokers including Motilal Oswal guilty of misselling NSEL contracts, KYC manipulation, client code modification, benami transactions & infusion of black money through their NBFCs on the Exchange platform.[20] The EOW had arrested senior employees of three brokerages namely IIFL, Geofin Comtrade & Anand Rathi in March, 2015.[21][22] This was followed by the market regulator, SEBI issuing multiple show-cause notices to the brokers in 2016, 2017, 2018 & 2019 respectively.[23][24] The EOW-Mumbai in its supplementary charge sheet has also accused the three brokerages IIFL, Motilal Oswal & Anand Rathi of cheating clients.[25][26] Based on the recommendations of SFIO & EOW's report against misdeeds of brokers, SEBI declared Motilal Oswal along with India Infoline Commodities (IIFL) ‘not fit and proper’ as commodity derivative brokers, in the last week of February 2019.[27][28][29][30]

In May 2022, SEBI imposed a fine of INR 2.5 million on Motilal Oswal for misutilization of client funds and incorrect reporting of margins.[31]

Awards and recognitions

References

  1. ^ a b c d e f g h "Motilal Oswal Financial Services". 2023.
  2. ^ "Don't take a crazy call when things are down: Raamdeo Agrawal". The Economic Times. 25 October 2019. Retrieved 19 February 2020.
  3. ^ "Motilal Oswal Financial Services: The house that Raamdeo Agrawal and Motilal Oswal built". Forbes India. forbesindia.com. 28 July 2018.
  4. ^ "Motilal Oswal Financial Services Ltd". Business Standard India. Retrieved 19 February 2020.
  5. ^ a b "Motilal Oswal Financial Services: The House That Raamdeo Agrawal And Motilal Oswal Built". Forbes India. Retrieved 19 February 2020.
  6. ^ Vadukut, Sidin (1 November 2008). "Motilal Oswal | When everyone knows your name". Livemint. Retrieved 19 February 2020.
  7. ^ Gurav, Vijay (10 February 2006). "Motilal Oswal buys Peninsular Capital for Rs 35-40 cr". The Economic Times. Retrieved 19 February 2020.
  8. ^ a b Staff (24 November 2006). "SBI ties-up with Motilal Oswal for online trading". Oneindia. Retrieved 19 February 2020.
  9. ^ Reporter, B. S. (20 May 2009). "Axis Bank ties up with Motilal Oswal for online trading". Business Standard India. Retrieved 19 February 2020.
  10. ^ "Motilal Oswal gets Sebi bod to set up MF biz". Rediff. Retrieved 19 February 2020.
  11. ^ "Motilal Oswal Home Finance Ltd - Company Profile and News". www.bloomberg.com. Retrieved 19 February 2020.
  12. ^ a b "Motilal Oswal Financ Management Information". economictimes.indiatimes.com.
  13. ^ "Harvest your bargains and move on, says Raamdeo Agrawal". moneycontrol.com. 21 November 2022.
  14. ^ "Nifty must break out of 16,500-18,500 range where it has been stuck for last 18 months: Rajat Rajgarhia". The Economic Times. 16 June 2023.
  15. ^ "BSE India Motilal Oswal Financial Services". www.bseindia.com. Retrieved 26 January 2023.
  16. ^ "NSE India Motilal Oswal Financial Services".
  17. ^ "Latest MOTILAL OSWAL Shareholding Pattern". Equitymaster. Retrieved 26 January 2023.
  18. ^ "MOFS.BO - Stock Price & Latest News - Reuters". Reuters. Retrieved 14 January 2023.
  19. ^ "Motilal Oswal's IPO a case study for Harvard". Retrieved 18 January 2023.
  20. ^ SHAH, PALAK (6 January 2019). "NSEL scam: 2015 police report gives SEBI fresh ammo against brokers". @businessline.
  21. ^ Rukhaiyar, Khushboo Narayan,Ashish (3 March 2015). "NSEL case: Mumbai Police arrests three top brokerage executives". Livemint.{{cite web}}: CS1 maint: multiple names: authors list (link)
  22. ^ Reporter, B. S. (4 March 2015). "EOW arrest three top brokers in NSEL scam". Business Standard India – via Business Standard.
  23. ^ Sahgal, Ram. "5 brokers issued supplementary notices". The Economic Times.
  24. ^ Jha, Dilip Kumar (3 January 2019). "Sebi issues another show-cause notice to NSEL brokers in 2013 scam probe" – via Business Standard.
  25. ^ "Non-defaulting brokers named in NSEL case". The Economic Times.
  26. ^ "EOW submits charge sheet against 63 in NSEL scam". The Economic Times.
  27. ^ "NSEL scam: SFIO wants SEBI to put broker-firms through 'fit and proper' test". @businessline. January 2019.
  28. ^ "NSEL Scam: SEBI declares Motilal Oswal, IIFL 'not fit and proper' as commodity derivative brokers". www.businesstoday.in. 23 February 2019.
  29. ^ Upadhyay, Jayshree P. (23 February 2019). "NSEL case: Commodity arms of Motilal Oswal, IIFL not fit and proper, says Sebi". Livemint.
  30. ^ Zachariah, Reena. "Sebi rules Motilal Oswal, IIFL commodity arms 'not fit and proper'". The Economic Times.
  31. ^ "Sebi imposes Rs 2.5 million penalty on Motilal Oswal Financial Services". Business Standard India. Press Trust of India. 2 May 2022. Retrieved 4 May 2022.
  32. ^ "Archived copy". Archived from the original on 20 April 2018. Retrieved 19 April 2018.{{cite web}}: CS1 maint: archived copy as title (link)
  33. ^ a b "Goafest 2018: It's raining awards but no Grand Prix in sight".
  34. ^ Prasad, Gireesh Chandra (6 April 2018). "India Business Leader Awards to honour exceptional performers".
  35. ^ "Asiamoney India 2021". 30 December 2021. Retrieved 14 March 2023.
  36. ^ "Super 50 Companies 2017 - Forbes India Magazine". Forbes India.
  37. ^ "Motilal Oswal, ICICI Securities shine at Zee Business awards | Latest News & Updates at Daily News & Analysis". dna. 15 December 2014. Retrieved 12 April 2018.
  38. ^ "Zee Business presents India's Best Market Analyst Awards 2013". 24 July 2013.
  39. ^ "UTI Mutual Fund and CNBC TV18 present Financial Advisors Award". Archived from the original on 12 July 2012. Retrieved 7 January 2023.
  40. ^ a b "Archived copy". Archived from the original on 13 January 2011. Retrieved 30 May 2012.{{cite web}}: CS1 maint: archived copy as title (link)
  41. ^ "Global M&A Network". Archived from the original on 17 December 2012. Retrieved 30 May 2012.
  42. ^ "Business News Live, Share Market News - Read Latest Finance News, IPO, Mutual Funds News". The Economic Times.

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