Motilal Oswal Asset Management Company Ltd. announced that as of today their sponsors has infused all the capital that is required to meet SEBI requirement of Rs. 50 crs net worth, Fulfilled SEBI requirement within less than a month of notification.
June 10, 2014 (Newswire.com) - Motilal Oswal AMC has fulfilled SEBI requirement to have networth of Rs. 50 Crores
Mumbai, June 9th 2014: Motilal Oswal Asset Management Company Ltd. announced that as of today their sponsors has infused all the capital that is required to meet SEBI requirement of Rs. 50 crs net worth. As on March 31st the networth stood at Rs. 23.29 crs. Starting March 28, in a series of tranches Motilal Oswal AMC has received capital infusion from its sponsor and currently the networth stands at approx. Rs 52 crs to have fulfilled SEBI requirement within less than a month of their notification.
Speaking at this achievement, Mr. Aashish P Somiyaa, Managing Director & CEO, Motilal Oswal AMC said, "Motilal Oswal is confident of carving a niche as a specialist equity house following a focused BUY RIGHT : SIT TIGHT philosophy. We respect that for appropriate discharge of fiduciary responsibilities towards investors and to ensure spread of equity investing which would transform India from a nation of savers to a nation of investors calls for investment in the business. We are committed to this cause."
About Motilal Oswal Asset Management Company Ltd.
Motilal Oswal Asset Management Company Ltd. is registered with SEBI as the Investment Manager to Motilal Oswal Mutual Fund It was incorporated on November 14, 2008. MOAMC is a 100% subsidiary of Motilal Oswal Securities Limited.
About Motilal Oswal Financial Services Limited
Motilal Oswal Securities Ltd. is a part of Motilal Oswal Financial Services Ltd. (MOFSL). MOFSL (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,546 business locations spread across 519 cities and the online channel to over 792,858 registered customers.
MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions.
MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in Asia Money Brokerage Polls for India.
MOSL won 4 awards in the ET-Now Starmine Analyst Awards 2010-11, placing it amongst the Top-3 award winning brokers, was ranked No. 2 by AsiaMoney Brokers Poll 2010 in the Best Local Brokerage Category and won the 'Best Market Analyst' Award for 2 sectors at the India's Best Market Analyst Awards 2011.
MOFSL won the 'Best Capital Markets and Related NBFC' award at the CNBC TV18 Best Banks and Financial Institutions Awards 2011.
MOSL also won the 'Best Equity Broking House' award for FY11 at the Dun & Bradstreet Equity Broking Awards 2011.
MOSL won the 'Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards 2013, for the 3rd year in a row.
MOSL won 'Best Equity Broker' award at Bloomberg UTV Financial Leadership Awards 2012, 'Retailer of the Year (Banking & Financial Services) award at Retail Excellence Awards 2012, and was ranked 2nd in the "Best Overall Brokerage" category by Asia Money in 2011.
Motilal Oswal Private Equity won 'Best Growth Capital Investor-2012' award at the Awards for Private Equity Excellence 2013.
MOSL was adjudged amongst the Top 20 innovators in BFSI for 'Leveraging on technology in enhancing customer experience' at the Banking Frontiers Finnoviti Awards 2012, and won the 'Quality Excellence for Best Customer Service Result' award at National Quality Excellence Awards 2013.
For more information please contact:
Alpesh Nakrani / Anirudh Rajan
Paradigm Shift Public Relations
Mob: +91 9869121167 / +91 9892343828
Tel: +91 22 22813797 / 98
Mr. Hari Krishnan
Motilal Oswal Asset Management Company Ltd
Mob: +91 9820520392
Ph: +91 22 39825500