Motilal Oswal Financial Services Limited has informed the Exchange about Receipt of Request for Reclassification of certain members from Promoter Group Category to Public Category
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Motilal Oswal Financial Services has received requests from 11 members of its promoter group seeking reclassification to the 'Public' category under SEBI Regulation 31A. These outgoing members together hold 24,45,412 shares, representing just 0.42% of total shareholding, with individual stakes ranging from 0% to a maximum of 0.07%. The applicants have confirmed they are financially, managerially, and operationally independent from the continuing promoters (Motilal Oswal and Raamdeo Agarawal), with no shared business interests or acting-in-concert arrangements. The continuing promoters still hold 67.12% of the company. The Board of Directors is scheduled to consider these requests at its meeting on April 29, 2026.
This is a routine housekeeping reclassification and is unlikely to have any meaningful impact on stock price or shareholder value, as the outgoing members collectively hold a negligible 0.42% stake and the core promoter control remains firmly with Motilal Oswal and Raamdeo Agarawal at 67.12%.