Motilal Oswal Financial Services Limited announced on June 12, 2026, that it has received no-objection letters from both BSE Limited and the National Stock Exchange of India Limited. This approval pertains to the reclassification of certain members from the ‘Promoter Group’ to the ‘Public’ category, as per SEBI regulations. The reclassification involves 11 individuals and represents a total shareholding of 0.42%.
Stock Exchange Approval for Promoter Reclassification
Motilal Oswal Financial Services Limited has received official no-objection letters from both the BSE Limited and the National Stock Exchange of India Limited on June 12, 2026. These letters confirm the approval for the reclassification of certain individuals from the ‘Promoter Group’ to the ‘Public’ category. This development follows an application made on April 30, 2026, and is in compliance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Individuals and Shareholding
The reclassification includes a total of eleven individuals who will transition from the ‘Promoter Group’ to the ‘Public’ category. The total number of shares held by these individuals is 24,45,412, which constitutes 0.42% of the total shareholding. The list of individuals approved for reclassification includes:
- Smt. Ansi Devi Oswal
- Mr. Javerilal Oswal
- Mr. Kamlesh Salecha (Legal Heir of Late Smt. Vimala Devi Salecha)
- Mr. Rajendra Oswal
- Mr. Govind Deo Agarawal
- Mr. Satish Agrawal
- Mr. Karoon Agrawal
- Mr. Sukhdeo Agarawal
- Mrs. Anita Agrawal
- Mr. Vinay Agrawal
- Mrs. Suman Agrawal
Company Compliance
Motilal Oswal Financial Services Limited is required to ensure continued compliance with subsequent disclosures of material events related to this reclassification, as per the applicable provisions of SEBI (LODR) Regulations, 2015. The company has formally acknowledged receipt of these no-objection letters and will be taking them on record.
Source: BSE
