Motilal Oswal Financial Services has submitted an application to reclassify certain members of its promoter group to the public category. This move involves a total of 11 individuals who collectively hold 24,45,412 shares, representing 0.42% of the company’s total shareholding.
The individuals seeking reclassification include Smt. Ansi Devi Oswal, Mr. Javerilal Oswal, Mr. Kamlesh Salecha, Mr. Rajendra Oswal, Mr. Govind Deo Agarawal, Mr. Satish Agrawal, Mr. Karoon Agrawal, Mr. Sukhdeo Agarawal, Mrs. Anita Agrawal, Mr. Vinay Agrawal, and Mrs. Suman Agrawal. Among these, Mr. Vinay Agrawal and Mrs. Suman Agrawal each hold 4,00,000 shares, amounting to 0.07% of the total shareholding each, making them the largest individual shareholders in this group.
The application for reclassification was submitted to both BSE Limited and the National Stock Exchange of India Limited on April 30, 2026. This step is in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs the reclassification of promoters.
The reclassification process is a regulatory requirement that allows companies to update their shareholding patterns by moving certain individuals or entities from the promoter group to the public category. This can be due to various strategic reasons, including compliance with regulatory norms or changes in the company’s ownership structure.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).