Newsmaker:Motilal Oswal
The unabated bull run on the stock markets has resulted in many an investor laughing all the way to the bank. The listing of Motilal Oswal Financial Services (MOFSL) was another reason for them to rejoice.
The company hit the capital markets with an offer price of Rs 850 per share; the stock debuted on the bourses at Rs 999, a premium of 17.5 per cent. Its market capitalisation stood at Rs 2,838 crore at the time of listing.
For Motilal Oswal, 45, CMD of the eponymous firm, it has been a busy period. He has four companies under his flagship—Motilal Oswal Investment Advisors, Motilal Oswal Commodities Broker, Motilal Oswal Venture Capital Advisors and Motilal Oswal Securities—that deal in areas like investment banking, commodities trading, private equity and research and advisory-based stock broking. “The listing brings a greater sense of accountability and responsibility” he says.
Oswal entered the business with co-promoter Raamdeo Agarwal in 1987 and has come a long way since then.
The numbers speak for themselves. MOFSL has over 1,200 business locations and in excess of 200,000 investors. That apart, the firm is among the top five domestic brokerage outfits in India. “Our focus has always been on adding value to customers,” says Oswal.
For investors, the listing of MOFSL provides a chance to participate in its emerging growth story. Last year, when he sold a 9.48 per cent stake to PE firms New Vernon and Bessemer, MOFSL was valued at Rs 1,345 crore.
The post-listing market capitalisation is more than twice that figure. Clearly, investors don’t have too many reasons to complain.
