Motilal Oswal Financial Services Explained

Motilal Oswal Financial Services Limited
Type:Public
Founder:Motilal Oswal
HAPPY SINGH
Location:Motilal Oswal Tower, Prabhadevi, Mumbai, Maharashtra
Industry:Financial services
Revenue: [1]
Revenue Year:2023
Income Year:2023
Net Income Year:2023
Assets Year:2023
Equity Year:2023
Aum: (2023)
Num Employees:7,303 (2023)
Owner:Promotor (69.53% stake)
  • Motilal Oswal
  • Raamdeo Agrawal

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 Happy Singh 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 Happy Singh 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]
Promoters69.47%
Mutual Funds05.89%
Financial Institution/Banks/Insurance00.00%
Foreign Institutional Investors (FII)07.35%
Corporate Bodies00.72%
Individuals09.15%
NRIs/OCBs00.38%
ADRs/GDRsNIL
Others7.04%
Total100%

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

External links

Notes and References

  1. Web site: Motilal Oswal Financial Services. 2023.
  2. News: Don't take a crazy call when things are down: Raamdeo Agrawal. 2019-10-25. The Economic Times. 2020-02-19.
  3. News: Motilal Oswal Financial Services: The house that Raamdeo Agrawal and Motilal Oswal built. 28 July 2018. Forbes India. forbesindia.com.
  4. News: Motilal Oswal Financial Services Ltd.. Business Standard India. 2020-02-19.
  5. Web site: Motilal Oswal Financial Services: The House That Raamdeo Agrawal And Motilal Oswal Built. Forbes India. en. 2020-02-19.
  6. Web site: Motilal Oswal When everyone knows your name. Vadukut. Sidin. 2008-11-01. Livemint. en. 2020-02-19.
  7. News: Gurav. Vijay. Motilal Oswal buys Peninsular Capital for Rs 35-40 cr. 2006-02-10. The Economic Times. 2020-02-19.
  8. Web site: SBI ties-up with Motilal Oswal for online trading. Staff. 2006-11-24. Oneindia. en. 2020-02-19.
  9. News: Reporter. B. S.. Axis Bank ties up with Motilal Oswal for online trading. 2009-05-20. Business Standard India. 2020-02-19.
  10. Web site: Motilal Oswal gets Sebi bod to set up MF biz. Rediff. en. 2020-02-19.
  11. Web site: Motilal Oswal Home Finance Ltd - Company Profile and News. 2020-02-19. www.bloomberg.com.
  12. Web site: Motilal Oswal Financ Management Information. economictimes.indiatimes.com.
  13. Web site: Harvest your bargains and move on, says Raamdeo Agrawal. moneycontrol.com. 21 November 2022 .
  14. News: 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. Web site: BSE India Motilal Oswal Financial Services . 2023-01-26 . www.bseindia.com.
  16. Web site: NSE India Motilal Oswal Financial Services .
  17. Web site: Latest MOTILAL OSWAL Shareholding Pattern . 2023-01-26 . Equitymaster.
  18. Web site: MOFS.BO - Stock Price & Latest News - Reuters. . 2023-01-14.
  19. Web site: Motilal Oswal's IPO a case study for Harvard . January 18, 2023.
  20. Web site: NSEL scam: 2015 police report gives SEBI fresh ammo against brokers. PALAK. SHAH. @businessline. 6 January 2019 .
  21. Web site: NSEL case: Mumbai Police arrests three top brokerage executives. Khushboo Narayan, Ashish. Rukhaiyar. 3 March 2015. Livemint.
  22. News: EOW arrest three top brokers in NSEL scam. B. S.. Reporter. Business Standard India . 4 March 2015. Business Standard.
  23. News: 5 brokers issued supplementary notices. Ram. Sahgal. The Economic Times.
  24. Web site: Sebi issues another show-cause notice to NSEL brokers in 2013 scam probe. Dilip Kumar. Jha. 3 January 2019. Business Standard.
  25. News: Non-defaulting brokers named in NSEL case. The Economic Times.
  26. News: EOW submits charge sheet against 63 in NSEL scam. The Economic Times.
  27. Web site: NSEL scam: SFIO wants SEBI to put broker-firms through 'fit and proper' test. @businessline. January 2019 .
  28. Web site: NSEL Scam: SEBI declares Motilal Oswal, IIFL 'not fit and proper' as commodity derivative brokers. www.businesstoday.in. 23 February 2019 .
  29. Web site: NSEL case: Commodity arms of Motilal Oswal, IIFL not fit and proper, says Sebi. Jayshree P.. Upadhyay. 23 February 2019. Livemint.
  30. News: Sebi rules Motilal Oswal, IIFL commodity arms 'not fit and proper'. Reena. Zachariah. The Economic Times.
  31. News: Press Trust of India . 2022-05-02 . Sebi imposes Rs 2.5 million penalty on Motilal Oswal Financial Services . Business Standard India . 2022-05-04.
  32. Web site: Archived copy . 19 April 2018 . 20 April 2018 . https://web.archive.org/web/20180420073845/https://www.aima.in/media-centre/events/managing-india-awards.html . dead .
  33. Web site: Goafest 2018: It's raining awards but no Grand Prix in sight.
  34. Web site: India Business Leader Awards to honour exceptional performers. Gireesh Chandra. Prasad. 6 April 2018.
  35. Web site: Asiamoney India 2021. 30 December 2021 . 2023-03-14.
  36. Web site: Super 50 Companies 2017 - Forbes India Magazine. Forbes India.
  37. News: Motilal Oswal, ICICI Securities shine at Zee Business awards Latest News & Updates at Daily News & Analysis. 2014-12-15. dna. 2018-04-12. en-US.
  38. Web site: Zee Business presents India's Best Market Analyst Awards 2013. 24 July 2013.
  39. Web site: UTI Mutual Fund and CNBC TV18 present Financial Advisors Award . 2023-01-07 . dead . https://web.archive.org/web/20120712012448/http://www.newkerala.com:80/news/2011/worldnews-171891.html . 2012-07-12 .
  40. Web site: Archived copy . 2012-05-30 . dead . https://web.archive.org/web/20110113035510/http://www.cafemutual.com/News/InnerDist.aspx?srno=21 . 2011-01-13 .
  41. Web site: Global M&A Network . 2012-05-30 . dead . https://archive.today/20121217151501/https://www.globalmanetwork.com/winnerscircleasiama.php . 2012-12-17 .
  42. Web site: Business News Live, Share Market News - Read Latest Finance News, IPO, Mutual Funds News. The Economic Times.

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