Motilal Oswal Financial Services Ltd. is an Indian diversified financial services firm offering a range of financial products and services. The company was founded by Motilal Oswal and in 1987. The company is listed on BSE and NSE stock exchanges.
History
Motilal Oswal Financial Services Ltd was set up by Motilal Oswal and Raamdeo Agarwal as a broking house in 1987. The company entered into investment banking in 2005, followed by private equity fund in 2006. On February 2006, Motilal Oswal Financial Services Ltd. acquired Peninsular Capital Markets, a Cochin, Kerala based broking company for Rs. 35 crore. The company tied up with State Bank of India in 2006, Punjab National Bank in 2007 and Axis Bank in 2013 to offer online trading to its customers. On January 2010, Motilal Oswal Financial Services Ltd. set up Mutual fund business named as Motilal Oswal Asset Management Company. On 2013, Motilal Oswal Financial Services Ltd. laid foundation of Aspire Home Finance Corporation Limited. The company offers loans for home, construction, composite, improvement, and extension in India.
Motilal Oswal along with few other top brokers have been accused of various irregularities on NSEL. 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. The EOW had arrested senior employees of three brokerages namely IIFL, Geofin Comtrade & Anand Rathi in March, 2015. This was followed by the market regulator, SEBI issuing multiple show-cause notices to the brokers in 2016, 2017, 2018 & 2019 respectively. The EOW-Mumbai in its supplementary charge sheet has also accused the three brokerages IIFL, Motilal Oswal & Anand Rathi of cheating clients. Based on the recommendations of SFIO & EOW's report against misdeeds of brokers, SEBI declared Motilal Oswal along with India Infoline Commodities ‘not fit and proper’ as commodity derivative brokers, in the last week of February 2019.
Awards and recognitions
Mr. Motilal Oswal, Chairman & MD is awarded as Outstanding Institution Builder of the year in The AIMA Managing India Awards
Motilal Oswal wins GOLD for marketing effectiveness at the Global ACEF customer engagement awards
Motilal Oswal TV Ad wins 3 awards at the ABBY Awards for Creative Excellence
Motilal Oswal Financial Services Ltd wins the Brand of the Year Award at the CNBC TV18 - India Business Leadership Awards
MOFSL has been featured in Forbes Super 50 Companies 2017
Motilal Oswal Securities received two awards for its equity research in IT and commodity segments at India's Best Market Analyst Awards 2014, India's biggest Financial Market Awards also called as ZEE Business Awards 2014.
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.
Motilal Oswal Securities was awarded with Best Performing National Financial Advisor Equity Broker Award in 2012, second time in succession.
CNBC TV18 awarded Motilal Oswal the Best Performing Equity Broker Award in 2010 at CNBC TV18 Financial Advisor Awards 2010
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
Motilal Oswal Securities Ltd. rated as No.1 Broker in ET Now – Starmine Analyst Awards 2009.
