Motilal Oswal Financial Services Explained

Motilal Oswal Financial Services Limited
Type:Public
Founder:Motilal Oswal
Raamdeo Agrawal
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 Raamdeo Agrawal in 1987.[2] [3]

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

History

Motilal Oswal Financial Services 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, the company 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, the company set up a mutual fund business named as Motilal Oswal Asset Management Company (MOAMC).[10]

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

In February 2024, Motilal Oswal Financial Services faced a cyberattack by the ransomware group LockBit, which claimed to have accessed confidential data. This breach could affect the information of over six million clients and put at risk data related to the company's asset management and investment banking operations.[12]

Management

!Position[13] !Personnel
Founder and CEO of Motilal GroupMotilal Oswal
Co-founder and Chairman of Motilal GroupRaamdeo Agrawal
Managing Director at MOFSL GroupNavin Agarwal
CEO of Investment BankingAmit Ramchandani
CEO of Institutional EquitiesRajat Rajgarhia
CEO of BrokingAjay Menon

Listings and Shareholdings

The equity shares of Motilal Oswal Financial Services are listed on the Bombay Stock Exchange,[14] and the National Stock Exchange of India.[15]

!Shareholders (as on 31-12-2022)!Shareholding (%)[16]
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.[17] Motilal Oswal's client base was around 7.3 million at the end of June 2024.[18]

Milestones

Controversies

Motilal Oswal along with a few other top brokers have been accused of various irregularities on the NSEL case. Agencies including the Economic Offence Wing-Mumbai and SFIO have found the top 5 brokers including Motilal Oswal guilty of misselling NSEL contracts, KYC manipulation, client code modification, illegal transactions & infusion of black money through their NBFCs on the Exchange platform.[20] The EOW had arrested senior employees of three brokers 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 and 2019 respectively.[23] [24] The EOW-Mumbai in its supplementary charge sheet has also accused the three brokers IIFL, Motilal Oswal & Anand Rathi of cheating clients.[25] [26] Based on the recommendations of SFIO & EOW against misdeeds of these 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

The company received a gold for marketing effectiveness at the Global ACEF customer engagement awards for their "Think Equity. Think Motilal Oswal" T.V Advertisement along with 3 awards at the ABBY Awards for Creative Excellence for the same.[32] The company featured in the Forbes Super 50 Companies in 2017.[33]

The company has been awarded by multiple Indian news organizations, such as ET Now, CNBC TV18 and Zee Business.[34] [35] [36] [37] [38]

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. News: Tiwari . Khushboo . Confidential data breach in Motilal Oswal by ransomware gang LockBit . . February 18, 2024.
  13. Web site: Motilal Oswal Finance Management Information . economictimes.indiatimes.com.
  14. Web site: BSE India Motilal Oswal Financial Services . 2023-01-26 . www.bseindia.com.
  15. Web site: NSE India Motilal Oswal Financial Services .
  16. Web site: Latest MOTILAL OSWAL Shareholding Pattern . 2023-01-26 . Equitymaster.
  17. Web site: MOFS.BO - Stock Price & Latest News - Reuters. . 2023-01-14.
  18. Web site: Motilal Oswal stock zooms 109% within 3 months. Business Standard. 2024-10-18.
  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: Goafest 2018: It's raining awards but no Grand Prix in sight .
  33. Web site: Super 50 Companies 2017 - Forbes India Magazine . Forbes India.
  34. News: 2014-12-15 . Motilal Oswal, ICICI Securities shine at Zee Business awards Latest News & Updates at Daily News & Analysis . 2018-04-12 . dna . en-US.
  35. Web site: UTI Mutual Fund and CNBC TV18 present Financial Advisors Award . dead . https://web.archive.org/web/20120712012448/http://www.newkerala.com:80/news/2011/worldnews-171891.html . 2012-07-12 . 2023-01-07.
  36. Web site: Business News Live, Share Market News - Read Latest Finance News, IPO, Mutual Funds News . The Economic Times.
  37. Web site: Archived copy . dead . https://web.archive.org/web/20110113035510/http://www.cafemutual.com/News/InnerDist.aspx?srno=21 . 2011-01-13 . 2012-05-30.
  38. Web site: Prasad . Gireesh Chandra . 6 April 2018 . India Business Leader Awards to honour exceptional performers .

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