The company was formed in 1987 by Motilal Oswal and Ramdeo Agrawal after they
acquired membership on Bombay Stock Exchange.[1]
Motilal Oswal Securities is a depository participant of the NSDL and the Central Depository
Services Limited (CDSIL)[2] in 2000. The company started offering derivatives products and
advisory services on both BSE as well as NSE in 2001[3]
In 2006 the company entered private equity and investment banking.[3] In the same year,
Motilal Oswal group acquired South Indian brokerage firm – Peninsular Capital Markets.[4]
The company tied up with State Bank of India and Punjab National Bank[5] in 2006 and 2007
to offer online trading to its customers. 2008 saw the company create one of India's largest
Equity[6] dealing and advisory rooms, spread over 26,000 sq ft (2,400 m2) in Malad, Mumbai.
In January 2010, Motilal Oswal Financial Services (through its subsidiary Motilal Oswal
Securities Ltd.) received the final certificate of registration approval from Securities and
Exchange Board of India (SEBI) to set up a mutual fund business in the country.
MOAMC is a 100% subsidiary of Motilal Oswal Securities Limited. It provides investment
management and advisory services to investors based within and outside India and having
portfolio management services business, ETFs and mutual funds. Motilal Oswal Asset
Management Company Ltd., one of the fastest growing asset management Companies in
India and has recently crossed the $1 billion in equity assets under management (AUM) mark
in June 2015.[7]
Aspire Home Finance Corporation Limited (AHFCL) is a professionally managed housing
finance company. AHFCL is a subsidiary of Motilal Oswal Securities Limited (MOSL)
which is a part of Motilal Oswal Financial Services Limited (MOFSL).
Allegations in NSEL case
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.[8] The EOW had arrested senior employees of three brokerages namely
IIFL, Geofin Comtrade & Anand Rathi in March, 2015.[9][10] This was followed by the market
regulator, SEBI issuing multiple show-cause notices to the brokers in 2016, 2017, 2018 &
2019 respectively. [11][12] The EOW-Mumbai in its supplementary charge sheet has also
accused the three brokerages IIFL, Motilal Oswal & Anand Rathi of cheating clients.[13][14]
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.[15][16][17][18]
Awards and recognitions
Mr. Motilal Oswal, Chairman & MD is awarded as Outstanding Institution Builder of
the year in The AIMA Managing India Awards[19]
Motilal Oswal wins GOLD for marketing effectiveness at the Global ACEF customer
engagement awards (Awarded for Think Equity. Think Motilal Oswal TV Ad)[20]
Motilal Oswal TV Ad wins 3 awards at the ABBY Awards for Creative Excellence[20]
Motilal Oswal Financial Services Ltd wins the Brand of the Year Award at the CNBC
TV18 - India Business Leadership Awards[21]
MOFSL has been featured in Forbes Super 50 Companies 2017[22]
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.[23]
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.[24]
Motilal Oswal Securities was awarded with Best Performing National Financial
Advisor Equity Broker Award in 2012, second time in succession.[25][26]
CNBC TV18 awarded Motilal Oswal the Best Performing Equity Broker Award in
2010 at CNBC TV18 Financial Advisor Awards 2010 [26]
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 [27]
Motilal Oswal Securities Ltd. rated as No.1 Broker in ET Now – Starmine Analyst
Awards 2009[10].[28]
