Motilal Oswal Financial Services (MOFSL) has fully acquired Gleiten Tech Private Limited, an IT company, for INR 50 lakhs.
The acquisition is a related party transaction, with shares purchased from Pratik Oswal and Natasha Malpani, both part of MOFSL’s promoter group.
With this move, Gleiten Tech will become a wholly-owned subsidiary of MOFSL, contributing to the company’s future business growth. The acquisition is expected to be completed within the next month. This step marks a significant part of MOFSL’s strategy to expand its technology-driven services.
Shares of Motilal Oswal Financial Services closed 1.14% lower at ₹777.70 on NSE.
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