Shares of Motilal Oswal Financial Services experienced a decline of nearly 5% after the Securities and Exchange Board of India (SEBI) issued an administrative warning regarding minor operational-related matters. The warning, issued a day earlier, urged the company to exercise caution in future dealings.
In response to SEBI’s action, Motilal Oswal Financial Services disclosed in a filing to the stock exchanges that the warning letter was issued on April 8 following a comprehensive inspection of its stock broking activities.
While SEBI routinely conducts inspections of various regulated activities, Motilal Oswal Financial Services assured stakeholders that the warning letter has had no impact on the firm’s financial, operational, or other activities.
In a separate development, the company’s board approved a proposal to raise up to ₹1,000 crore through non-convertible debentures (NCDs) during a meeting held on April 9. This includes a base size of up to ₹500 crore, with an option to retain oversubscription of up to ₹500 crore.
As of 2:30 pm, Motilal Oswal Financial Services shares were trading 4.41% lower at ₹2,004.95 on NSE.
