Motilal Oswal Financial Services’ holding company to buy a 50% stake of the parent

Motilal Oswal Family Trust will acquire 57,79,600 equity shares of PIMPL from Motilal Oswal, MD & CEO and Promoter of target company.

Nov 27, 2020 06:11 IST India Infoline News Service

Acquisition Concept
Motilal Oswal Financial Services Limited’s holding company Motilal Oswal Family Trust will acquire 50% stake in Passionate Investment Management Private Limited (PIMPL) from Motilal Oswal, Managing Director & Chief Executive Officer and Promoter of target company.

PIMPL is the parent organization of Motilal Oswal Financial Services. 

“Motilal Oswal Family Trust will be acquiring 50% stake i.e. 57,79,600 equity shares of Passionate Investment Management Private Limited (PIMPL), Holding Company of Motilal Oswal Financial Services Limited from Motilal Oswal, Managing Director & Chief Executive Officer and Promoter of Target Company, thereby leading to indirect acquisition of equity shares and voting rights of the target company,” company said in a regulatory filing on Thursday.

The Proposed transfer by Oswal shall be made by way of gift to the Trust.

At around 12.28 pm, Motilal Oswal Financial Services was trading at Rs612 per piece up by Rs6.2 or 1.02% from its previous closing of Rs605.80 per piece on the BSE.

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