Motilal Oswal Financial Services

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.[1][2]

Motilal Oswal Financial Services Limited
TypePublic
ISININE338I01027
IndustryFinance
Founded1987 (1987)
FounderMotilal Oswal
HeadquartersMotilal Oswal Tower, Prabhadevi, Mumbai, Maharashtra
Key people
Services
  • Retail Broking & Distribution
  • Institutional Equities
  • Mutual Funds
  • Wealth management
  • Investment Banking
  • Private Equity
  • Home Finance
Subsidiaries
  • Motilal Oswal Securities Ltd
  • Motilal Oswal Investment Services
  • Motilal Oswal Investment Advisors Pvt Ltd
  • Motilal Oswal Private Equity Advisors Pvt Ltd
  • Motilal Oswal Asset Management Co. Ltd
  • Aspire Home Finance Corporation Ltd.
Websitemotilaloswalgroup.com

The company is listed on BSE and NSE stock exchanges.[3]

History

Motilal Oswal Financial Services Ltd (MOFSL) was set up by Motilal Oswal and Raamdeo Agrawal as a broking house in 1987.[4]

The company entered into investment banking in 2005, followed by private equity fund in 2006.[5]

In February 2006, Motilal Oswal Financial Services Ltd. acquired Peninsular Capital Markets, a Cochin, Kerala based broking company for Rs. 35 crore.[6] The company tied up with State Bank of India in 2006,[7] Punjab National Bank in 2007 [7] and Axis Bank in 2013[8] 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).[9]

In 2013, Motilal Oswal Financial Services Ltd. established Aspire Home Finance Corporation Limited (AHFCL).[4] The company offers loans for home, construction, composite, improvement, and extension in India.[10]

Management
  • Motilal Oswal – Founder, MD & CEO of MOFSL[11]
  • Raamdeo Agrawal – Co-founder & Chairman of MOFSL & MOAMC[12]
  • Navin Agarwal – MD & CEO, MOAMC
  • Abhijit Tare – CEO, Investment Banking Business[11]
  • Rajat Rajgarhia - MD & CEO, Motilal Oswal Institutional equities
  • Ajay Menon - MD & CEO, Broking & Distribution

Listings and Shareholdings

The equity shares of Motilal Oswal Financial Services are listed on the Bombay Stock Exchange,[13] and the National Stock Exchange of India.[14]

Shareholders (as on 31-12-2022) Shareholding (%)[15]
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.[16]

Milestones
  • 1987 – Founded in Mumbai by Motilal Oswal and Raamdeo Agrawal
  • 1990 – Listed on BSE
  • 1994 – Listed on NSE
  • 2007 – Went public via IPO; Featured as a case study in Harvard Business School.[17]
  • 2009 – Customer base crossed 5,00,000
  • 2010 – Launched Motilal Oswal Foundation
  • 2021 – AUM (assets under management) crossed the Rs 2 trillion mark
  • 2022 – Got certified as a 'Great Place to Work' for the fifth time

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.[18] The EOW had arrested senior employees of three brokerages namely IIFL, Geofin Comtrade & Anand Rathi in March, 2015.[19][20] This was followed by the market regulator, SEBI issuing multiple show-cause notices to the brokers in 2016, 2017, 2018 & 2019 respectively.[21][22] The EOW-Mumbai in its supplementary charge sheet has also accused the three brokerages IIFL, Motilal Oswal & Anand Rathi of cheating clients.[23][24] 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.[25][26][27][28]

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.[29]

Awards and recognitions
  • Mr. Motilal Oswal, MD & CEO is awarded as Outstanding Institution Builder of the year in The AIMA Managing India Awards[30]
  • Motilal Oswal wins GOLD for marketing effectiveness at the Global ACEF customer engagement awards (Awarded for Think Equity. Think Motilal Oswal TV Ad)[31]
  • Motilal Oswal TV Ad wins 3 awards at the ABBY Awards for Creative Excellence[31]
  • Motilal Oswal Financial Services Ltd wins the Brand of the Year Award at the CNBC TV18 - India Business Leadership Awards[32]
  • MOFSL won the ‘Best Domestic Brokerage India’ and many other recognitions at the Asia Money Brokers Poll 2021.[33]
  • MOFSL was bestowed the ‘Business Leadership Award’ for excellence in franchising and business development at the Franchise India Awards 2019.
  • MOAMC got listed among ‘Asia’s Top 100 Money Managers’ for 2017 by the Institutional Investor magazine. It also won the 'Best Portfolio Manager' honour at the ASSOCHAM Capital Markets Intermediaries Excellence Awards 2017. MOFSL got featured in Forbes Super 50 Companies 2017.[34]
  • Motilal Oswal Securities received two awards for its equity research in IT and commodity (forex) segments at India's Best Market Analyst Awards 2014, India's biggest Financial Market Awards also called as ZEE Business Awards 2014.[35]
  • Motilal Oswal Financial Services Ltd's Analyst Mr. Jinesh Gandhi won the Best Market Analyst Award for the categories Equity-Auto at ‘India's Best Market Analyst Awards 2013 organized by Zee Business.[36]
  • Motilal Oswal Securities got awarded with the ‘Best Performing National Financial Advisor Equity Broker’ award in 2010 as well as 2012 at the CNBC TV18 Financial Advisor Awards.[37][38]
  • CNBC TV18 awarded Motilal Oswal the Best Performing Equity Broker Award in 2010 at CNBC TV18 Financial Advisor Awards 2010 [38]
  • Motilal Oswal IB team won the Asia Pacific Cross Border Deal of the year award in 2010 and the CEO Ashutosh Maheshvari got India M&A Investment Banker of the Year award [39]
  • Motilal Oswal Securities Ltd. rated as No.1 Broker in ET Now – Starmine Analyst Awards 2009.[40]

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