Motilal Oswal Financial Services Ltd is a well-diversified financial services company focused on wealth creation for all customers, such as institutional, corporate, HNI and retail. The company's services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity and commodity broking. They distribute these products through 1,289 business locations spread across 548 cities and the online medium to over 541,372 registered customers. The company has strong research capabilities, which enables to identify market trends and stocks with high growth potential, helping clients to take well-informed and timely decisions. The company is headquartered in Mumbai. The company's subsidiaries include Motilal Oswal Securities Ltd (MOSL), which is engaged in stock broking, wealth management and distribution of financial products; Motilal Oswal Capital Markets Pvt Ltd, which is engaged in stock broking; Motilal Oswal Commodities Broker Pvt Ltd, which is engaged in commodities broking; Motilal Oswal Private Equity Advisors Pvt Ltd, which is engage in private equity management and advisory, Motilal Oswal Investment Advisors Pvt Ltd, which is engaged in investment banking, and Antop Trader Pvt Ltd, which is engaged in lease rental. Motilal Oswal Financial Services Ltd was incorporated on May 18, 2005 and received the certificate of commencement of business on June 3, 2005. The company was established to offer financial services and products. In the year 2006, Motilal Oswal Securities Ltd became a subsidiary of the company upon shares of MOSL from the promoters Motilal Oswal and Raamdeo Agrawal and some members of promoter group. Also, Motilal Oswal Commodities Broker Pvt Ltd became a subsidiary of the company upon acquisition of shares from promoter, During the year, the company acquired Motilal Oswal Venture Capital Advisors Pvt Ltd and Motilal Oswal Investment Advisors Pvt Ltd from promoters Motilal Oswal and Raamdeo Agrawal and thus those companies became the subsidiaries of the company. Also, Motilal Oswal Securities Ltd acquired customer rights and other assets of Peninsular Capital Markets Limited, broking entity based in Kerala. During the year 2007-08, the company implemented a fully automated web-based back office application for mutual fund distribution, which can be accessed across the country. Also, Motilal Oswal Capital Markets Pvt Ltd became the subsidiary of Motilal Oswal Securities Ltd and, in turn of the company. During the year, the company made an Initial Public Offer (IPO) of 2,982,710 equity shares of Rs 5 each in the price band of Rs 725 - Rs 825 per share. The issue constituted 10.50% of the paid-up share capital of the company. The Shares were allotted on September 5, 2007 and got listed on Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd on September 11, 2007. During the year 2008-09, Antop Traders Pvt Ltd became the subsidiary of Motilal Oswal Securities Ltd and, in turn subsidiary of the company. Subsequent to the year-end, Motilal Oswal Insurance Brokers Pvt Ltd and Motilal Oswal Asset Management Company Ltd became the subsidiaries of the company. During the year, the company and Passionate Investment Management Pvt Ltd received in-principle approval from the Securities Exchange Board of India (SEBI) for setting up a mutual fund business in India. During the year 2009-10, the company, jointly with their subsidiary Motilal Oswal Securities Ltd, acquired an office building at Prabhadevi in Mumbai for a consideration of Rs 164.58 crore. Also, Motilal Oswal Asset Management Company became 100% subsidiary of Motilal Oswal Securities Ltd, which is a subsidiary of the company.