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Motilal Oswal Financial Services > Company History > Finance - General > Company History of Motilal Oswal Financial Services - BSE: 532892, NSE: MOTILALOFS

Motilal Oswal Financial Services

BSE: 532892  |  NSE: MOTILALOFS  |  ISIN: INE338I01027  |  Finance - General

Company History - Motilal Oswal Financial Services
History and background of Our Company
 
 The Issuer was incorporated under the Companies Act as Motilal Oswal
 Financial 
 Services Limited vide Certificate of Incorporation No. 11- 153397
 dated May 18, 
 2005 issued by the ROC and received the certificate of commencement
 of business 
 on June 3, 2005.
 
 The Issuer, along with its Subsidiaries, offers a diversified range
 of financial products 
 and services such as retail wealth management including commodities
 broking, portfolio 
 management services and institutional broking, investment banking
 services, and 
 venture capital management and advisory. 
 
 Mr. Motilal Oswal and Mr. Raamdeo Agrawal initially conducted
 business as sub-brokers. 
 Around 1990 Mr. Motilal Oswal acquired membership of the BSE.
 Subsequently, Vasant 
 Holding Private Limited (VHPL), a group company acquired the
 membership of the NSE 
 in 1994. On July 5, 1994, Deo Securities Private Limited was
 incorporated by Mr. Motilal 
 Oswal and Mr. Raamdeo Agrawal to carry on the business of stock
 broking and other 
 financial services.
 
 On August 22, 1995 Mr. Motilal Oswal and Mr. Raamdeo Agrawal
 incorporated another 
 company, Motilal Oswal Stock Brokers (I) Limited, for carrying on the
 broking and asset 
 management activities. The name Motilal Oswal Brokers (I) Limited was
 changed to Motilal 
 Oswal Securities Limited, on February 12, 1996. Pursuant to the order
 dated January 21, 
 1999 passed by the Hon'ble High Court of Judicature at Bombay,
 sanctioning the scheme 
 of amalgamation of VHPL with Motilal Oswal Securities Limited, the
 entire business and 
 undertakings and all properties, interests and assets of VHPL were
 transferred to
 Motilal Oswal Securities Limited.
 
 With a view to achieving better and more profitable utilisation of
 the primary and 
 secondary markets and also the growth in mutual fund industry,
 Motilal Oswal Securities 
 Limited was restructured. The retail and institutional stock broking
 division was hived off 
 to Deo Securities Private Limited along with its facilities of
 in-house equity research, 
 pursuant to the Scheme of Arrangement sanctioned by the Hon'ble High
 Court on October 
 19, 2000. Thus, Motilal Oswal Securities Limited continued to carry
 on the activities of
 investments, while Deo Securities Private Limited carried on the
 activity of stock broking.
 
 On November 30, 2000, Motilal Oswal Securities Limited was renamed
 Motilal Oswal 
 Investments Limited and subsequently changed to Motilal Oswal
 Investments Private 
 Limited on December 12, 2002. Deo Securities Private Limited was
 renamed as Deo 
 Securities Limited on November 14, 2000 and was subsequently changed
 to Motilal 
 Oswal Securities Limited and received fresh certificate of
 incorporation on November 
 30, 2000.
 
 Motilal Oswal Investments Private Limited was renamed as Passionate
 Investment 
 Management Private Limited (PIMPL), and received a fresh certificate
 of incorporation 
 on February 23, 2006.
 
 Major events in the history of Our Company:
 
 Year Events
 
 1996   Commencement of 'Wealth Creation Study' to identify the
 fastest wealth creating listed
 companies
 
 2001   MOSL registered with SEBI as a Dealer of OTC Exchange of
 India
 
 2003   Commencement of portfolio management service by MOSL
 
 2004   Commencement of commodities broking business by MOCB
 
 2005   Incorporation of the Issuer to offer financial services and
 products
 
 2006   MOSL became a subsidiary of MOFSL upon acquisition of shares
 of MOSL from the
 Promoters, Mr. Motilal Oswal and Mr. Raamdeo Agrawal and some members
 of the
 Promoter Group
 
           MOCB became a subsidiary of MOFSL upon acquisition of
 shares from Promoter,
           PIMPL
 
           New Vernon Private Equity Limited and Bessemer Venture
 Partners Trust subscribed to
           the equity shares and OCRPS of the Issuer
 
           MOSL acquired the customer rights and other assets of:
 
          i. Peninsular Capital Markets Limited, (a broking entity
 based in Kerala);
         
         ii. Mani Stock Brokers Limited, (a broking entity based in
 Uttar Pradesh); and
 
        iii. Capital Deal Stock and Share Brokers, (a proprietary
 concern based in Karnataka).
 
            MOIA was incorporated to conduct investment and merchant
 banking
 
            MOVC was incorporated to conduct venture fund management
 and advisory services
 
           MOVC and MOIA became the subsidiaries of the Issuer upon
 acquisition of shares
             from Promoter, Mr. Motilal Oswal and Mr. Raamdeo Agrawal
Source : Religare Technova

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