The Shares were allotted on Septemand got listed on Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd on September 11 2007.During the year 2008-09 Antop Traders Pvt Ltd became the subsidiary of Motilal Oswal Securities Ltd and in turn subsidiary of the company. The issue constituted 10.50% of the paid-up share capital of the company. Ltd became the subsidiary of Motilal Oswal Securities Ltd and in turn of the company.During the year the company made an Initial Public Offer (IPO) of 2982710 equity shares of Rs 5 each in the price band of Rs 725 - Rs 825 per share. During the year 2007-08 the company implemented a fully automated web-based back office application for mutual fund distribution which can be accessed across the country. Also Motilal Oswal Securities Ltd acquired customer rights and other assets of Peninsular Capital Markets Limited broking entity based in Kerala. During the year the company acquired Motilal Oswal Venture Capital Advisors Pvt Ltd and Motilal Oswal Investment Advisors Pvt Ltd from promoters Motilal Oswal and Raamdeo Agrawal and thus those companies became the subsidiaries of the company. Also Motilal Oswal Commodities Broker Pvt Ltd became a subsidiary of the company upon acquisition of shares from promoter.
In the year 2006 Motilal Oswal Securities Ltd became a subsidiary of the company upon acquisition of shares of MOSL from the promoters Motilal Oswal and Raamdeo Agrawal and some members of promoter group. The company was established to offer financial services and products. MOFSL carries its lending business by running Loan against shares book and retail mortgage backed lending under the name of Aspire Home finance.Motilal Oswal Financial Services Ltd was incorporated on and received the certificate of commencement of business on June 3 2005. As of Mathe Company had 18 subsidiaries (including step down subsidiaries). Motilal Oswal Financial Services is headquartered in Mumbai and as of 31 March 2018 it had a network spread over 588 cities and towns comprising 2200+ business locations and more than 9 lakh registered customers. It has a diversified client base that includes retail customers (including High Net worth Individuals) mutual funds foreign institutional investors financial institutions and corporate clients. The Company offers a range of financial products and services such as stock broking Private Wealth Management Retail Broking and Distribution Institutional Broking Asset Management Investment Banking Private Equity proprietary investments Commodity Broking Currency Broking and Home Finance. Motilal Oswal Financial Services Ltd (MOFSL) is a non-banking financial company (NBFC) registered under the Reserve Bank of India Act 1934.