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Motilal Oswal building in Lower Parel, Mumbai
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| Company type | Public |
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| ISIN | INE338I01027 |
| Industry | Financial services |
| Founded | 1987; 37 years ago (1987) |
| Founder | Motilal Oswal Raamdeo Agrawal |
| Headquarters | Motilal Oswal Tower, Prabhadevi, Mumbai, Maharashtra |
Key people |
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| Products |
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| Revenue |  ₹4,178 crore (US$500 million)[1] (2023) |
| ₹1,877 crore (US$220 million)[1] (2023) | |
| ₹935 crore (US$110 million)[1] (2023) | |
| AUM | ₹45,620 crore (US$5.5 billion)[1] (2023) |
| Total assets | ₹22,949 crore (US$2.7 billion)[1] (2023) |
| Total equity | ₹6,142 crore (US$740 million)[1] (2023) |
| Owner | Promotor (69.53% stake)[1]
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Number of employees | 7,303 (2023)[1] |
| Website | motilaloswalgroup |
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]
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]
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% |
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]
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]
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