As per the Regulation filings, Motilal Oswal Financial Services Promoters, Mr. Motilal Oswal and Mr. Raamdeo Agarawal, along with their Family Members, indicating their commitment to donate 5% of the company’s equity shares each, totaling 10% of the total paid-up share capital, for charitable purposes. The donation is intended to be utilized within the next 10 years or preferably earlier.
The decision to donate reflects the Promoters’ dedication to making a positive impact on society and is in line with the company’s core values of social responsibility and giving back to the community. The Promoters and their Family Members plan to donate the following shares:
Mr. Motilal Oswal: 73,97,556 shares, representing 5% of the company’s share capital as of June 30, 2023.
Mr. Raamdeo Agarawal: 73,97,556 shares, representing 5% of the company’s share capital as of June 30, 2023.
Total: 1,47,95,112 shares, representing 10% of the company’s share capital as of June 30, 2023.
Mr. Motilal Oswal said, “God is very kind to me. I have been a big beneficiary of studying in schools, colleges and hostels built by many great philanthropists. Giving back is a way to express gratitude for many blessings I have received”.
Mr. Raamdeo Agarawal said, “I would like to see that the donation amount is being spent in our own life time for designated purposes as the need for the same is maximum now.”
The Motilal Oswal Financial Services shares previously closed at ₹816.55 per share. The shares of Motilal Oswal Financial Services rose by nearly 3 per cent and are trading at a price of ₹838.85 at 2:40 pm on the BSE. The shares of Motilal Oswal Financial Services also made a new 52-week high of ₹888.70 today in today’s trading session. On six months basis the stock has given 24.74 per cent returns to its investors.
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Updated: 28 Jul 2023, 02:56 PM IST