Motilal Oswal is an Indian businessman who was born into a Rajasthani Jain family. He co-founded Motilal Oswal Financial Services Ltd (MOFSL) with Raamdeo Agrawal in 1987 and serves as its chairman and managing director. After their membership at the BSE in the 1990s, the Motilal Oswal Group had to establish an office near the exchange, and they relocated into a 180 sq ft office at Natwar Chambers in Fort, Mumbai. Earlier, Mr. Motilal Oswal and Mr. Raamdeo Agrawal worked as sub-brokers. Following that, in 1994, Vasant Holding Private Limited (VHPL), a group firm, became a member of the NSE. Mr. Motilal Oswal and Mr. Raamdeo Agrawal formed Deo Securities Private Limited on July 5, 1994, to engage in the trade of stock brokage and other investment banking. Here are some interesting facts about Motilal Oswal.
- Rashtriya Samman Patra
The Government of India gave Oswal the “Rashtriya Samman Patra” for being among the nation’s highest income tax payers for five years, from FY95 to FY99.
2. Oldest brokerage firms
Established in 1987, the business is one of the oldest full-service trading businesses still in operation today.
3. Authored two books
He is a voracious reader who has written two books, “The Essence of Business & Management” and “The Essence of Life.”
4.The Ultimate Gift
Jim Stovall’s “The Ultimate Gift” is Oswal’s favourite book. He was so enamoured with the book that he purchased 1,000 copies to give to his family, friends, and coworkers.
5. Best Performing Equity Broker
At the CNBC TV18 Financial Advisor Awards, Motilal Oswal firm was named Best Performing Equity Broker (National) for the fifth year in a row, and it was inducted into the ‘Hall of Fame’ at the 10th Financial Advisory Awards 2019.
6. Udyog Rattan Award
The Institute of Economic Studies in New Delhi also gave him the “Udyog Rattan Award” for his contributions to the nation’s economic progress.
7. Way to honor markets
The Motilal Oswal tower in Mumbai’s Lower Parel of Mumbai mimics the market closure. The market shuts on Friday, thus the building is illuminated in red.
8. Motilal Oswal Securities Limited was renamed
Motilal Oswal Securities Limited switched its name to Motilal Oswal Investments Limited on November 30, 2000, and then to Motilal Oswal Investments Private Limited on December 12, 2002.