Motilal Oswal Financial Services announces buyback of shares for Rs 160 cr

Motilal Oswal Financial Services on Tuesday announced buyback of its 14.55 lakh equity shares at a price of Rs 1,100 per unit for an aggregate amount not exceeding Rs 160 crore.

The buyback represents 0.98 per cent of the total paid-up equity share capital of the company as on March 31, 2022, Motilal Oswal Financial Services said in a statement.

The company has decided to use tender offer route for acquisition of shares, it said after the board approval.

Members of the promoter and promoter group of the company have indicated their intention to participate in the proposed buyback, it said.

The company has fixed May 27, 2022 as the record date for the purpose of determining the entitlement for buyback.