Home > media room > Press Release > details

Motilal Oswal Financial Services plans add 250 new business partners in the eastern region by March 2024

Kolkata 20-Jul-2023


Motilal Oswal Financial Services plans add 250 new business partners in the eastern region by March 2024


·              Enters into strategic tie-ups with regional equity brokerage houses in the eastern region of India

·              Sees an increase in the number of beneficiaries from regional partnerships 


15 July 2023, Kolkata: Motilal Oswal Financial Services Limited (MOFSL),Broking & Distribution, has entered into a strategic tie-up with multiple regional equity brokerage firms from eastern region of India. With this collaboration, Motilal Oswal Financial Services now has a total 653 active business partners in the east. MOFSL aims to add approx. 250 additional business partners by March 2024.


In the eastern region, MOFSL has successfully collaborated with Narnolia Securities, Kripa Securities, Achievers Equities.  


The tie-up allows clients of regional firms to take advantage of the synergies and expertise offered by MOFSL along with its diverse research capabilities and use MOFSL trading platform to trade in equity, currency, and commodities & Phygital approach


Commenting on the partnership model, Mr. Gaurav Manihar, Director, Head - Business Alliances, MOFSL said, "The broking industry is evolving and so are the regulations. Smaller brokers or business owners face an uphill battle as compliance and regulatory costs are escalating. Meanwhile, full-service brokers like Motilal Oswal can absorb these high costs. Joining forces with Motilal Oswal presents a compelling solution for businesses.” 


Mr Manihar added, “By aligning with Motilal Oswal, individual business owners enter a win-win situation. They gain access to our robust infrastructure, technological prowess, and extensive research resources, enabling them to compete with industry giants. This alliance not only empowers regional players to enhance their business proposition and better serve clients but also strengthens Motilal Oswal''s position as an industry leader, fostering a dynamic environment of growth and innovation. Together, we can forge a path to mutual prosperity, where the aspirations of all stakeholders are realized."


Amongst the geographies in the eastern region, West Bengal in particular has seen considerable increase in market investors over the last 12 months. West Bengal’s rank has improved to3rd in February 2023 from 7 a year ago. The eastern region has witnessed a 25%increase in active investors in May 2023. The distributional pattern for the number of active investors has also significantly changed. With the share of the Eastern and Northern regions increasing while that of the Western and Southern regions have declining.






Mr. Chandan Taparia, Senior VP – Derivatives& Technical, Equity Research, MOFSL said, “The participation of retail investors in equity markets has soared, bringing forth a new era of opportunity and financial empowerment. As more people embrace investing, the markets have shown their potential to deliver significant long-term returns. This trend not only stimulates economic growth but also promotes inclusivity by making investments accessible to all. Together, we are shaping a future where retail investors play a pivotal role in unlocking extraordinary possibilities.”


In the last 3 years, MOFSL has acquired businesses/clients (through business transfer) of 7 business across India and added close to 1 lakh clients who benefit from MOFSL’s advanced research & advisory, which has created a win-win for the clients& MOFSL. 


About Motilal Oswal Financial Services Limited:

MOFSL is a financial services company. The Broking & Distribution arm of the group provide equity, commodities &currencies research, advisory and investing platform to retail clients. It also has a large business in distribution of third party financial products.


MOFSL Group offerings include capital markets businesses (Retail broking, Institutional broking & Investment banking),Asset & Wealth Management (Asset Management, Private Equity & Wealth Management), Housing Finance & Equity based treasury investments. MOFSL employs ~10,000 employees serving via distribution reach in 550+ cities. MOFSL has AUA of Rs 3.2 Lakh Crore.


Disclaimer link:






For further details, please contact: 

Rohini Kute 

Head of Group Corporate Communication, Motilal Oswal Financial Services 

Email: rohini.kute@motilaloswal.com