Company type | Public |
---|---|
ISIN | INE338I01027 |
Industry | Financial services |
Founded | 1987 |
Founder | Motilal Oswal Raamdeo Agrawal |
Headquarters | Motilal Oswal Tower, Prabhadevi, Mumbai, Maharashtra |
Key people |
|
Products | |
Revenue | ₹4,178 crore (US$520 million)[1] (2023) |
₹1,877 crore (US$240 million)[1] (2023) | |
₹935 crore (US$120 million)[1] (2023) | |
AUM | ₹45,620 crore (US$5.7 billion)[1] (2023) |
Total assets | ₹22,949 crore (US$2.9 billion)[1] (2023) |
Total equity | ₹6,142 crore (US$770 million)[1] (2023) |
Owner | Promotor (69.53% stake)[1]
|
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]
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]
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]