Early Life
Motilal Oswal was born in the small village of Padru in Barmer, Rajasthan, India, on May 15, 1962. His father was a grain trader. Instead of joining the family trade, Oswal pursued formal education. He studied at SPU Jain College in Falna before moving to Mumbai to study for his Chartered Accountancy.
Rise to Success
In 1987, during his stay in a Mumbai hostel, Oswal met Raamdeo Agrawal. Together, they founded Motilal Oswal Financial Services (MOFSL). Starting as a small sub-broking unit, the company grew into a significant financial services firm. Oswal focused on customer support, HR, operations, and expansion, while Agrawal managed finance and research. In 1989, the company was officially named Motilal Oswal Financial Services. The company went public via IPO in 2007.
Key Business Strategies
MOFSL's success is attributed to a customer-first approach, ethical and transparent practices, and research-based value investing. The company provides equity trading, commodity trading, investment advisory services, portfolio management services, and mutual fund investments. Motilal Oswal is also the chairman of the Jain International Trade Organisation. The company has a significant focus on the predictability of revenue, with annual recurring revenue contributing 61% of total net revenues.
Philanthropy
In 2023, Oswal and co-founder Raamdeo Agrawal pledged to donate 5% of their holdings in Motilal Oswal for philanthropic causes such as education, health, and rural upliftment.
