₹1,000.00 Cr| Listing at BSE, NSE | Tue, Apr 23, 2024 - Fri, May 3, 2024
Motilal Oswal Financial Services Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture with a base issue size of ₹500.00 Cr and an option to retain oversubscription up to ₹500.00 Cr, aggregating to a total issue size of ₹1,000.00 Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Motilal Oswal Financial Services Ltd. NCD issue opens on Apr 23, 2024 and closes on May 3, 2024. NCD are proposed to be listed on NSE and BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 8.85% per annum to 9.70% per annum, depending on the series and tenure selected.
The NCD has been rated: .
Trust Investment Advisors Pvt.Ltd. is the Lead Manager to the issue, Beacon Trusteeship Ltd. is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Tue, Apr 23, 2024
Close Date
Fri, May 3, 2024
Issue Size (Overall)
₹1,000.00 Cr
Motilal Oswal Financial Services Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 |
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Annual | NA | Annual | NA | Monthly | Annual | Monthly | Annual |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 24 Months | 24 Months | 36 Months | 36 Months | 60 Months | 60 Months | 120 Months | 120 Months |
| Coupon (% per Annum) | 8.85% | NA | 9.10% | NA | 8.97% | 9.35% | 9.30% | 9.70% |
| Effective Yield (% per Annum) | 8.85% | 8.85% | 9.10% | 9.10% | 9.35% | 9.35% | 9.70% | 9.70% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,184.85 | Rs 1,000.00 | Rs 1,298.60 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 | Rs 1,000.00 |
Motilal Oswal Financial Services Limited's revenue decreased by -2.76% and profit after tax (PAT) dropped by -28.93% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 29,184.48 | 23,009.94 | 169,323.34 |
| Revenue | 3,181.06 | 4,197.12 | 4,316.41 |
| Profit After Tax | 1,059.52 | 932.82 | 1,312.45 |
| Amount in ₹ Crore | |||
The promoters of the company are Motilal Oswal, Raamdeo Agarawal and Motilal Oswal Family Trust
| Category | Allocated (%) | Shares Reserved |
|---|---|---|
| Institutional | 10.00% | 5,00,000 |
| Non-Institutional | 10.00% | |
| HNI | 40.00% | 20,00,000 |
| Retail | 40.00% | 20,00,000 |
| Total | 100.00% | 50,00,000 |
Incorporated in May 2005, Motilal Oswal Financial Services Limited is the full-service broker in India, with the highest gross brokerage revenue as of March 31, 2023, among players in the broking industry. Motilal Oswal Group offers financial services such as broking, investment banking, asset management, private equity, wealth management, and housing finance.
The Company serves as a stock-broker and commodities broker for a diverse range of clients, including retail customers (including high net worth individuals), mutual funds, foreign institutional investors, financial institutions, and corporate clients. They provide broking and related services through three channels: (i) a vast network of over 2,500 Business Locations across more than 550 cities in India as of March 31, 2024; (ii) online and digital platforms, including mobile applications; and (iii) a network of over 8,000 Business Associates spread across various locations in India as of March 31, 2024.
The company has a nationwide presence with offices in 22 states, two union territories, and one international location. As of March 31, 2024, they employed 7,927 workers.
The company offers broking services across various states via its online and digital platforms, in addition to a vast network of Business Locations and Business Associates. These are integrated with each other, providing our clients with a seamless trading and investment experience. This positioning enables them to benefit from the development of the Indian financial market, the increased emphasis on digitisation, and the growth in returns from such financial investments.
As of March 31, 2024, the company employs 11,290 full-time workers.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is a well-known leader in all sort of financial services for across the board investors. It has good financials position as of December 31, 2023. This is the maiden debt offer from the company with lucrative coupon rates with AA/Stable ratings from CRISIL and IND RA. The allotment will be made on “First Come – First Served” basis. Investors looking for steady income may park funds for the medium to long term returns. Read detail review...
The Motilal Oswal Financial Services NCD April 2024 was subscribed 2.58 times on May 03, 2024 17:30. The NCD subscribed 1.41 times in Retail, 1.51 times in HNI, and 1.50 times in Institutional category.
Motilal Oswal Financial Services Ltd.
Motilal Oswal Tower, Rahimtullah Sayani Road,
Opposite Parel ST Depot, Prabhadevi
Mumbai-400025
Mumbai, Maharashtra, 400025
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Motilal Oswal Financial Services Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
