home > our businesses > financial services
financial services

Knowledge First.

Motilal Oswal Financial Services Limited (MOFSL) is a well-diversified financial services company focused on wealth creation through knowledge. The company was founded in 1987 as a small sub-broking unit with two promoters and a peon.

Today, we are a multi-faceted financial services company with a presence in over 550 cities through 2500+ business locations, ably managed by a team of over 11,000 employees. This network of business locations, coupled with people across business units and a diverse range of financial expertise, works synergistically to provide a host of products and services across Retail and Institutional Broking, Private Wealth, Investment Banking, Private Equity, Asset Management and Home Finance. All these businesses are headquartered in a single location at Motilal Oswal Tower, Mumbai, to provide sharing and synergy of knowledge under one roof.

Motilal Oswal Group has been recognized as Great Place to Work 7 times by Great Place To Work® Institute - India.

Our Business
our performance
consolidated revenues ( Cr.)
profit after tax ( Cr.)
assets under management / advice / distribution ( Cr.)
  • Motilal Oswal Managing Director and CEO - MOFSL

    Motilal Oswal is the Managing Director and CEO of Motilal Oswal Financial Services Ltd. (MOFSL). He is a Chartered Accountant and started the business along with co-promoter, Raamdeo Agrawal in 1987.

    Mr. Oswal has served on the Governing Board of the BSE, Indian Merchant’s Chamber (IMC) and has also served on various committees of BSE, NSE, SEBI and CDSL. He is the President of the Jain International Trade Organisation (JITO) and has been awarded the Rashtriya Samman Patra by the Government of India for being amongst the highest income tax payers in the country for a period of 5 years.

    For his work and contribution to the capital markets, Mr. Oswal has been felicitated with several awards and accolades including:

    •    ‘Excellent Business Achiever in Financial Services’ Award by the Institute of Chartered Accountants of India

    •    ‘Rajasthan Ratna Manav Seva’ Award by Manav Seva Trust

    •    ‘Special Contribution award to Indian Capital Markets’ Award by Zee Business

    •    ‘The Hall of Fame for Excellence in Franchising’ by Franchising World Magazine

    •    ‘Champion of Arthshastra’ by the Rotary Club

    •    ‘Durgadevi Saraf Puraskar’ by Marwadi Sammelan for extraordinary contributions in the field of Trade & Industry

    •    ‘Samaj Ratna’ Award at the hands of Her Excellency President Smt. Pratibhatai Patil in Rashtrapati Bhawan

    Mr Oswal has authored two books of quotations on ‘The Essence of Business & Management’ and ‘The Essence of Life’.

  • Raamdeo Agrawal Chairman - MOFSL

    Raamdeo Agrawal is the man behind the strong research capabilities at Motilal Oswal Financial Services Ltd. He is a Chartered Accountant and the Chairman of Motilal Oswal Financial Services Limited (MOFSL). A keen believer and practitioner of the QGLP philosophy, his wealth creation insights and decades-rich experience have played a pivotal role in MOFSL, transforming it from a small stock broking firm to a well-diversified financial services company.

    Mr. Agrawal is an Associate of Institute of Chartered Accountants of India and also a member of the National Committee on Capital Markets of the Confederation of Indian Industry. He has received the "Rashtriya Samman Patra" awarded by the Government of India for being amongst the highest Income Tax payers in the country for a period of 5 years from FY95–FY99. He was also conferred with the ‘Special contribution to Indian Capital Market Award’ by Zee Business in 2011.

    Mr. Agrawal has been authoring the annual Motilal Oswal Wealth Creation Study since 1996. In 1986, he wrote the book ‘Corporate Numbers Game’, along with co-author, Ram K Piparia. He has featured on `Wizards of Dalal Street on CNBC TV 18` and also compiled a book of investing insights called ‘Wealth Creation Thoughts’.

  • Navin Agarwal Director - MOFSL

    Navin Agarwal is the Director of Motilal Oswal Financial Services Ltd & Managing Director & Chief Executive Officer of Motilal Oswal Asset Management Company Limited.

    He is a member of the Institute of Chartered Accountants of India, Institute of Cost and Works Accountants of India, Institute of Company Secretaries of India.

    He started his career as a Senior Analyst in 1994 and joined Motilal Oswal Securities in 2000. He has co-authored a book on stock markets "India`s Money Monarchs".

  • C. N. Murthy Independent Director - MOFSL

    Mr. C. N. Murthy is a B.Tech. (Mechanical) graduate from IIT Kharagpur with 1st class (Hons). He is a trained Professional Life/Executive Coach certified by Coaching & Leadership Inc. Canada. He is also a Marshall Goldsmith Stake Holder Centred Coach, with certifications in the practice of DiSC and Lumina Spark personality assessments. He is a PCC Credentialed coach by International Coach Federation. He is a certified facilitator for Accountability training by Partners In Leadership, USA, for programs on Collaboration for Results by Dialogue Works, USA, and for facilitation of Business Simulation Exercises by Business Today, SA.

    He has nearly 40 years of experience in the packaging industry working with ITC Ltd. and with a global packaging major, Huhtamaki-PPL Limited (HPPL) (erstwhile The Paper Products Limited), headquartered in Finland and with major operations worldwide. He possesses experience of handling Board level assignments as Executive Director & Chief Operating Officer of HPPL.

    Mr. Murthy has 2000+ hours of coaching experience working with senior leadership teams across organizations in India and abroad.  He is actively involved in executive leadership development activity in large business houses across industry segments in India and abroad, working with leaders at C Suite and senior leadership levels over the past 10 years. The assignments involved working with identified highly potential people (HIPOTs) and helping them develop self-awareness, and building the ability to manage greater complexity in their lives.

    Mr. Murthy is President of ICF, Mumbai Chapter, and he has been invited as a Key Note and Motivational speaker by various organizations and Associations. 

    He is also the sole proprietor of a consulting firm CN Consulting.

  • Pankaj Bhansali Independent Director - MOFSL

    Mr. Pankaj Bhansali is a qualified Chartered Accountant with over 20 years of extensive experience in managing and running businesses into financial services. He has an extensive background of delivering results in complex and challenging environments with proven track record of setting up systems, establishing new divisions and creating synergies between various business lines.

    He has held the various positions in Religare Enterprise Limited, diversified financial services group, from June 2005 till April 2012 in India as well as in UK. He has worked with and was associated with several other financial services groups.

    He is currently the Managing Partner of Arth Capital Advisors Private limited, a boutique investment banking and advisory firm.

  • Divya Momaya Independent Director - MOFSL

    Mrs. Divya Sameer Momaya has done B.com from Garware College of Commerce, University of Pune and is a qualified member of Institute of Company Secretaries of India (ICSI) and Qualified Independent Director from IICA and a member of Institute of Directors (IOD). 

    Mrs. Momaya is a founder mentor of D. S. Momaya & Co. and possesses more than 16 years of industry experience. She has been into Whole-time Company Secretarial Practice for more than 12 years and is also a Board Mentor. Her Corporate Journey includes experience with Companies like BSEL Infrastructure Realty Limited and Bombay Stock Exchange Limited. 

    Mrs. Momaya is also the Founder & Director of MMB Advisors Private Limited - MentorMyBoard. MentorMyBoard is an initiative to train and groom Independent Directors, Women Directors, Executive Directors and Corporate Executives for various Board Positions. It also helps Companies setting up Board processes and policies in companies which helps them in growing at faster pace.

    She is the member and working committee member of various eminent organisations like Jain International Trade Organisation (JITO), JITO Angel Network (JAN), IMC Chamber of Commerce and Industry, CIMSME KDO Venture Katalyst etc.

  • Chandrashekhar Karnik Independent Director - MOFSL

    Mr. Chandrashekhar Karnik, after completing his Bachelor of Science from Bombay University, has done Post Graduation in Business Management. He also holds Post Graduate Diploma in Industrial Relations and Personnel Management. In addition to this, he possesses degree in law with specialization in Labor Welfare.

    He retired as a Director-Human Resources of the Forbes Group. 

    He is a Business focused and strategic HR leader with over 43 years of experience across different industry sectors and verticals in the areas of Human Resource Management.

    He has worked with corporates such as Forbes & Company Ltd., Hotel Corporation of India Ltd., FER Electricals Ltd. and Bombay Oxygen Corporation Ltd.  

    In an executive role, he was responsible for leading diverse and multicultural teams in a widely diversified Group. In these situations, he had intense involvement in strategic business decision making, planning as well as execution with regard to diversification, restructuring of businesses etc.

    He has served as a Non-Executive Director on the Boards of numerous Forbes Group Companies & has vast experience of handling Board level assignments.

    Mr. Karnik is a Certified Leadership Coach. He is a Board Member and Advisor to several companies, institutions, businesses and entrepreneur families.  He is also Member, Board of Governors of a leading Private University.

    Currently, he is actively engaged in (a) family business consulting, (b) coaching and mentoring of CEO/CXOs and (c) advising companies on strategic HR matters.

    He held Chairmanship of Human Resource Committees of number of Management Organizations such as Employer’s Federation of India, Bombay Chamber of Commerce & Industry etc.

    He was Employer’s Representative on the National Medical Benefit Council of Employees’ State Insurance Corporation (ESIC). 

    Mr. Karnik is a Life member of National Institute of Personnel Management (NIPM) & National Human Resource Development Network (NHRD). 

  • Swanubhuti Jain Independent Director - MOFSL

    Mrs. Swanubhuti Jain has done Post Graduate Diploma in Sales and Marketing Management from Narsee Monjee Institute of Management Studies (NMIMS) and Mphil from Mumbai University. In addition to this, she has done graduation in Sanskrit medium in Logic, Philosophy & Literature. i.e. Shastri, from Rajasthan University.

    In past, she has been associated with various organisations viz. Accenture Consulting India, Multi Commodity Exchange of India Ltd., Asit C. Mehta Investment Intermediates Ltd., ICICI Prudential Life Insurance Co. Ltd., Birla Sun Life Insurance Co. Ltd. Performing various roles of Business development (Hunting & Mining), Client relationship management & C-Sat, Marketing Strategy, Lead generation & Sales (Retail, Institutional & Corporate), Quality Ops (Lean Six Sigma).

    She spearheaded the JITO Incubation & Innovation Foundation to become one of the fastest growing Angel Network & Incubator. At ICICI Prudential Life Insurance Co. Ltd, she was the youngest Branch Manager, got promoted to Quality Function and to national role and successfully launched new business models like hub & spoke with 40 branches & 400 spokes within the short span of 4 months. She also won award for Process Excellence from Mr. K.V. Kamath in ICICI Group Forum (2007-08) for savings of INR 350 Million facilitating business

    optimization through Lean & Six Sigma DMAIC Methodology for Sales related functions. Birla Sun Life Insurance Co. Ltd. Continuously ranked her amongst top 20 Managers in India at BSLI and youngest Manager to achieve highest business.

    She is also an avid reader and speaker on practical spiritualism at international level, regular expert speaker at CNBC Awaaz Show “Startup Nation”, invitee at JAINA and JAANA USA during their Annual conferences, an Honorary lecturer at Mumbai University Dept. of Philosophy between 2001-2010, Founder of a 5 year course on Practical Spiritualism with 50+ batches across US, Canada, UK, Dubai, Nairobi, Australia & Singapore (www.practicaljainism.com).

    Since 2017, she is been associated with JITO Incubation & Innovation Foundation (JIIF) and is currently serving as Chief Executive Officer/Chief Operating Officer of JIIF and spearheading various businesses of JIIF. 

    Currently, she is also developing an exclusive E-Learning web series and multiple Micro-learning modules to aid thinking beyond the routine and create moral awareness.

  • Shalibhadra Shah Associate Director & CFO - MOFSL

    Shalibhadra Shah is an Associate Director and CFO of Motilal Oswal Financial Services Ltd.
    He is a qualified Chartered Accountant from Institute of Chartered Accountants of India and Graduated from R.A. Podar College of Commerce & Economics.

    He joined MOFSL in 2006. Prior to joining MOFSL, he was leading the Taxation Role at an eminent CA Firm.

    Shalibhadra is a Finance professional with 17 years of experience spanning the entire gamut of Finance, Accounts, Taxation & Compliance.

    Besides being a Finance professional, Shalibhadra spends his spare time in Spiritual Development, Music & Enhancing Knowledge on Taxation.