Motilal Oswal Shares Sold to HDFC Life in Rs 153 Cr Deal

New Delhi, Jun 8 (PTI) Two entities on Monday sold more than 18 lakh shares of Motilal Oswal Financial Services to HDFC Life Insurance Company for Rs 153 crore through open market transactions.

A total of 18,20,000 shares, representing a 0.3 per cent stake in Motilal Oswal Financial Services Ltd (MOFSL), were offloaded by Motilal Oswal Foundation and Motilal Oswal Healthcare Foundation, according to block deal data on the NSE.


The shares were disposed of at an average price of Rs 842.50 apiece, taking the transaction value to Rs 153.33 crore.

Meanwhile, HDFC Life Insurance Company Ltd purchased the same number of shares, as per the data.

Following the shares sale, the scrip of Motilal Oswal Financial Services declined 4.50 per cent to close at Rs 816.90 apiece on the National Stock Exchange (NSE).