9.70% Motilal Oswal Financial Services Limited 2034

Motilal Oswal Financial Services Limited incorporated on May 18, 2005, is one of the largest full-service brokers in India with highest gross brokerage revenue as of March 31, 2023 amongst players in the broking industry. The Company started operations as a provider of sub-broking and prudential portfolio services and has over 37 years of experience in broking and distribution industry. Motilal Oswal Group offers a diversified range of financial products and services such as retail broking and distribution, institutional broking, investment banking, asset management, private equity, wealth management and housing finance. The Company acts as a stock-broker and commodities broker for clients comprising of retail customers (including high net worth individuals), mutual funds, foreign institutional investors, financial institutions and corporate clients. The Company’s broking and allied services are offered through their (i) network of over 2,500 Business Locations spread across over 550 cities in India as of March 31, 2024; (ii) online and digital platforms including mobile applications; and (iii) network of over 8,000 Business Associates spread over various locations in India as of March 31, 2024.