Motilal Oswal Financial Services Receives Request for Promoter Share Reclassification
Motilal Oswal Financial Services Limited has received requests from several members of its Promoter Group seeking to reclassify their shares from the ‘Promoter Group’ category to the ‘Public’ category.The Company announced that eleven individuals have submitted the request letters, detailing their individual holdings and confirming the necessary conditions for such a reclassification. The promoters seeking reclassification, collectively, hold an aggregate of 24,45,412 shares, representing 0.42% of the total shareholding of the Company.
The details of the individuals and their respective shareholdings are as follows:
| Sr. No. | Name of person(s) seeking reclassification | No. of shares held | % of shareholding |
|---|---|---|---|
| 1. | Smt. Ansi Devi Oswal | 0 | 0 |
| 2. | Mr. Javerilal Oswal | 0 | 0 |
| 3. | Mr. Kamlesh Salecha (Legal Heir of Late Smt. Vimala Devi Salecha) | 5,720 | 0 |
| 4. | Mr. Rajendra Oswal | 2,19,984 | 0.04 |
| 5. | Mr. Govind Deo Agarawal | 2,23,080 | 0.04 |
| 6. | Mr. Satish Agrawal | 2,73,080 | 0.05 |
| 7. | Mr. Karoon Agrawal | 3,00,000 | 0.05 |
| 8. | Mr. Sukhdeo Agarawal | 3,03,548 | 0.05 |
| 9. | Mrs. Anita Agrawal | 3,20,000 | 0.05 |
| 10. | Mr. Vinay Agrawal | 4,00,000 | 0.07 |
| 11 | Mrs. Suman Agrawal | 4,00,000 | 0.07 |
| Total | Total | 24,45,412 | 0.42 |
The outgoing members confirmed that they satisfy the required independence conditions, stating that they have been living separately for several years and are financially, managerially and operationally independent. This independence declaration applies to the continuing Promoters, namely Mr. Motilal Oswal and Mr. Raamdeo Agarawal, and their family members.
The Company noted that the individual shareholding of the applicants is either nil or insignificant, ranging from 0.00% to 0.07%. It further highlighted that the continuing promoters hold 67.12% of the total shareholding, and consequently, this reclassification does not affect any governance, influencing, or controlling rights of the Company.
The Board of Directors of Motilal Oswal Financial Services Limited is scheduled to consider these requests at its ensuing meeting today, April 29, 2026.
MOTILALOFS Stock Price Movement
Shares of Motilal Oswal Financial Services Limited are slipping by 0.04% in live trading, currently priced at ₹782.4 as of 10:01 AM today. The stock sees significant liquidity, trading on a volume of 347,467 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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