Motilal Oswal and Raamdeo Agarawal to donate 10% stake of Motilal Oswal Financial Services Limited for charity

Motilal Oswal Financial Services Limited has received an expression of interest/intent, from Mr. Motilal Oswal and Mr. Raamdeo Agarawal, Promoters of the Company along with their Family Members, committing to donate 5% Equity shares by each of them aggregating to 10% of total paid-up share capital of the Company, towards charitable purposes. It will be our endeavor to spend the entire donation amount in next 10 years or preferably earlier.

This decision reflects the Promoters dedication to make a positive impact on society and aligns with the Company's core values of social responsibility and giving back to the community.

Mr. Motilal Oswal said, "God is very kind to me. I have been a big beneficiary of studying in schools, colleges and hostels built by many great philanthropists. Giving back is a way to express gratitude for many blessings I have received".

Mr. Raamdeo Agarawal said, "I would like to see that the donation amount is being spent in our own life time for designated purposes as the need for the same is maximum now."

Shares of Motilal Oswal Financial Services Limited was last trading in BSE at Rs. 816.55 as compared to the previous close of Rs. 836.75. The total number of shares traded during the day was 21960 in over 1675 trades.

The stock hit an intraday high of Rs. 836.75 and intraday low of 812.10. The net turnover during the day was Rs. 18010476.00.

Source : Equity Bulls

Keywords

MotilalOswalFinancialServices INE338I01027 RaamdeoAgarawal Charity