Meet Motilal Oswal, CA from Rajasthan village who will donate Rs 1210 crore with his business partner

The two promoters of Motilal Oswal Financial Services – Motilal Oswal and Ramdeo Agarwal – have announced to donate 10 percent shares in the firm. Both the co-founders of the firm whose market share is over Rs 12000 crore, will donate 7397556 equity shares each. The entire amount will be spent within 10 years. The current value of the shares is around Rs 1210 crore.

Oswal is a native of a small village in Rajasthan. Agarwal is his friend. Oswal has also opened an institution known as Krishikul that educates farmers on how to increase income through better productivity.

According to NBT, Oswal said the donation was his attempt to pay back to the society. He pointed out that he got education from schools and colleges that were built by people who donated money to them.

Agarwal said he got happiness by giving. He said he just learning to give.

Who is Motilal Oswal?

He is an Indian businessman. He is the founder of MOFSL. Raamdeo Agarwal is the co-founder. They built the company in 1987.

Oswal was born in Barmer’s Padru. His father was a grain trader. Oswal did his graduation from the SPU Jain College. He did CA in Mumbai. He met Agarwal at a Mumbai hostel.

Initially, the company was an accounting firm. They later became sub brokers at the Bombay Stock Exchange.

Agarwal handled finance; Oswal took charge of customer support, HR, operations and expansion.

Oswal is the group MD of the company. He has also served as the Governing Board of the BSE, Indian Merchant’s Chamber (IMC) and has also served on various committees of BSE, NSE, SEBI and CDSL.

The market capitalisation of the firm is whopping Rs 12161.25 crores.