Motilal Oswal receives NHB approvals tochange the name of Aspire Home Finance Corporation Ltd to Motilal Oswal HomeFinance Ltd

Mumbai, 02 May 2019: The Boardof Directors of Aspire Home Finance Corporation Limited, (“AHFCL”), Material Subsidiary of Motilal Oswal FinancialServices Limited had proposed to change of name from “AHFCL” to “MotilalOswal Home Finance Limited” or anyother name containing words “Motilal Oswal”, subject toregulatory approvals and approval of the Members of AHFCL at the GeneralMeeting. AHFCL has received No objection Letter dated May 1, 2019 from NationalHousing Bank (“NHB”) for proposed change in the name. AHFCL will now proceedwith filing application with Registrar of Companies (“ROC”) for proposed changeof name. The name change process will be completed on receipt of all requisiteapprovals.

The groupwill offer home loans under the ‘MotilalOswal Home Loans’ brand name.

Speaking on this development, Motilal Oswal, Chairman & MD MotilalOswal Financial Services said, “With the proposed name change, home loanswould be offered to customers under the Motilal Oswal name. With a customerbase of 20 lakh across the globe, Rs 1 lakh crore + assets under management,presence in over 600 cities/2400 outlets and a market cap of  over 10,000 crores, Motilal Oswal is one ofthe largest brands in financial services. This rebranding would not only helpin terms of greater business efficiencies with Motilal Oswal Group, itwould also help build greater trust and recall among customers, prospects andstakeholders. We are sure this move will help make the home finance businessbigger and better in the years to come”

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