Motilal Oswal Financial Services surges on unveiling buyback of shares for Rs 160 crore
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Motilal Oswal Financial Services is currently trading at Rs. 851.20, up by 3.80 points or 0.45% from its previous closing of Rs. 847.40 on the BSE.
The scrip opened at Rs. 825.00 and has touched a high and low of Rs. 856.60 and Rs. 825.00 respectively. So far 3689 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1188.00 on 19-Jul-2021 and a 52 week low of Rs. 726.80 on 24-Aug-2021.
Last one week high and low of the scrip stood at Rs. 882.00 and Rs. 806.00 respectively. The current market cap of the company is Rs. 12692.71 crore.
The promoters holding in the company stood at 69.50% while Institutions and Non-Institutions held 13.71% and 16.78% respectively.
Motilal Oswal Financial Services has unveiled buyback of its 14.55 lakh equity shares at a price of Rs 1,100 per unit for an aggregate amount not exceeding Rs 160 crore. The buyback represents 0.98 per cent of the total paid-up equity share capital of the company as on March 31, 2022.
The company has decided to use tender offer route for acquisition of shares. Members of the promoter and promoter group of the company have indicated their intention to participate in the proposed buyback.
Motilal Oswal Financial Services offers a range of financial products and services, such as wealth management, retail broking and distribution, institutional broking, asset management, commodity broking, private equity, investment banking, and principal strategies.
