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S&P
BSE SENSEX
73,994.90
+256.45
+0.35 %
Corporate Announcement
Security Code
532892
Company
Motilal Oswal Financial Services Ltd
Exchange Received Time
21/08/2018 22:06:47
Exchange Disseminated Time
21/08/2018 22:06:51
Time Taken
00:00:04
Intimation Regarding Transfer Of The Lending Business Of The Company, As A Going Concern, On A Slump Sale Basis For A Lump Sum Consideration By The Company To Its Wholly Owned Subsidiary, Motilal Oswal Capital Markets Limited Pursuant To A Business Transfer Agreement |
8/21/2018 10:06:47 PM
Pursuant to provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we wish to inform the Exchange that the Company has transferred the lending business by way of a slump sale on a going concern basis, to its wholly owned subsidiary, Motilal Oswal Capital Markets Limited ('MOCML') as contemplated in the Business Transfer Agreement ('BTA') dated August 20, 2018 at a consideration of Rs. 50 Crores (subject to usual post completion adjustments).
Thus, on completion of the transaction, the lending business of the Company pursuant to the BTA stands transferred to MOCML from opening of business hours of Tuesday, August 21, 2018.
Kindly take the same on record.
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