Motilal Oswal Financial Services Ltd said on Monday that its board of directors had approved the repatriation of the shares with a face value of 1 Re from an open market totaling no more than Rs 150 crore.
This eliminates all types of transaction fees and other costs associated with a price not exceeding Rs 650 per share.
The maximum purchase volume represents 7.51 percent and 6.64 percent of the total outstanding shares of the Company's outstanding assets and liabilities on the basis of the standing accounts and consolidated accounts as of March 31, 2019 respectively.
Managing Director and CEO Motilal Oswal said "This again proves our commitment to Indian equity markets and the future of the company.
"It also provides an opportunity to bring capital back to investors with additional liquidity available on our sheets," he said in a statement.
Motilal Oswal Financial Services is a multidisciplinary financial services company with services that include large market traders (retail, mortgage & investment banks), real estate and asset management (asset management, equity and asset management). ), home equity and equity-based equity investments. .