Motilal Oswal receives request for reclassification of promoter group members

Arunika Jain — Wed, 29 Apr 2026 04:29:22 +0000

Motilal Oswal Financial Services has announced the receipt of requests from certain members of its promoter group seeking reclassification to the public category. The reclassification request was made by a total of 11 individuals, who collectively hold 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. Their individual shareholding ranges from 0.00% to 0.07%.

The company has confirmed that the applicants meet the conditions set out in Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These individuals have been living separately and are financially, managerially, and operationally independent from the continuing promoters, Mr. Motilal Oswal and Mr. Raamdeo Agarawal, and their family members.

The aggregate shareholding of the outgoing promoter group members is 0.42%, while the continuing promoters hold a significant 67.12% of the company’s total shareholding. As such, the reclassification is not expected to affect governance or control of the company.

The board of directors of Motilal Oswal Financial Services is set to consider these requests in its meeting scheduled for April 29, 2026.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Ansi Devi Oswal | Business Upturn

Motilal Oswal receives request for reclassification of promoter group members