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Motilal Oswal Financial Services Ltd. Company History and Annual Growth Details

History and background of Our Company

The Issuer was incorporated under the Companies Act as 'Motilal Oswal Financial
Services Limited' vide Certificate of Incorporation No. 11- 153397 dated May 18,
2005 issued by the ROC and received the certificate of commencement of business
on June 3, 2005.

The Issuer, along with its Subsidiaries, offers a diversified range of financial products
and services such as retail wealth management including commodities broking, portfolio
management services and institutional broking, investment banking services, and
venture capital management and advisory.

Mr. Motilal Oswal and Mr. Raamdeo Agrawal initially conducted business as sub-brokers.
Around 1990 Mr. Motilal Oswal acquired membership of the BSE. Subsequently, Vasant
Holding Private Limited (VHPL), a group company acquired the membership of the NSE
in 1994. On July 5, 1994, Deo Securities Private Limited was incorporated by Mr. Motilal
Oswal and Mr. Raamdeo Agrawal to carry on the business of stock broking and other
financial services.

On August 22, 1995 Mr. Motilal Oswal and Mr. Raamdeo Agrawal incorporated another
company, Motilal Oswal Stock Brokers (I) Limited, for carrying on the broking and asset
management activities. The name Motilal Oswal Brokers (I) Limited was changed to Motilal
Oswal Securities Limited, on February 12, 1996. Pursuant to the order dated January 21,
1999 passed by the Hon'ble High Court of Judicature at Bombay, sanctioning the scheme
of amalgamation of VHPL with Motilal Oswal Securities Limited, the entire business and
undertakings and all properties, interests and assets of VHPL were transferred to
Motilal Oswal Securities Limited.

With a view to achieving better and more profitable utilisation of the primary and
secondary markets and also the growth in mutual fund industry, Motilal Oswal Securities
Limited was restructured. The retail and institutional stock broking division was hived off
to Deo Securities Private Limited along with its facilities of in-house equity research,
pursuant to the Scheme of Arrangement sanctioned by the Hon'ble High Court on October
19, 2000. Thus, Motilal Oswal Securities Limited continued to carry on the activities of
investments, while Deo Securities Private Limited carried on the activity of stock broking.

On November 30, 2000, Motilal Oswal Securities Limited was renamed Motilal Oswal
Investments Limited and subsequently changed to Motilal Oswal Investments Private
Limited on December 12, 2002. Deo Securities Private Limited was renamed as Deo
Securities Limited on November 14, 2000 and was subsequently changed to Motilal
Oswal Securities Limited and received fresh certificate of incorporation on November
30, 2000.

Motilal Oswal Investments Private Limited was renamed as Passionate Investment
Management Private Limited (PIMPL), and received a fresh certificate of incorporation
on February 23, 2006.

Major events in the history of Our Company:

Year Events

1996 Commencement of 'Wealth Creation Study' to identify the fastest wealth creating listed
companies

2001 MOSL registered with SEBI as a Dealer of OTC Exchange of India

2003 Commencement of portfolio management service by MOSL

2004 Commencement of commodities broking business by MOCB

2005 Incorporation of the Issuer to offer financial services and products

2006 MOSL became a subsidiary of MOFSL upon acquisition of shares of MOSL from the
Promoters, Mr. Motilal Oswal and Mr. Raamdeo Agrawal and some members of the
Promoter Group

MOCB became a subsidiary of MOFSL upon acquisition of shares from Promoter,
PIMPL

New Vernon Private Equity Limited and Bessemer Venture Partners Trust subscribed to
the equity shares and OCRPS of the Issuer

MOSL acquired the customer rights and other assets of:

i. Peninsular Capital Markets Limited, (a broking entity based in Kerala);

ii. Mani Stock Brokers Limited, (a broking entity based in Uttar Pradesh); and

iii. Capital Deal Stock and Share Brokers, (a proprietary concern based in Karnataka).

MOIA was incorporated to conduct investment and merchant banking

MOVC was incorporated to conduct venture fund management and advisory services

MOVC and MOIA became the subsidiaries of the Issuer upon acquisition of shares
from Promoter, Mr. Motilal Oswal and Mr. Raamdeo Agrawal

2008

- The Company has splits its face value from Rs5/- to Rs1/-.
 
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