Motilal Oswal Financial Services Announces Postal Ballot Results: All Six Directors Approved

Motilal Oswal Financial Services Limited has successfully completed its postal ballot process with all six proposed director appointments receiving overwhelming shareholder approval. The company announced the voting results on December 31, 2025, through regulatory filings to BSE Limited and National Stock Exchange of India Limited, marking the completion of a comprehensive governance exercise that began with the original postal ballot notice dated November 28, 2025.

Postal Ballot Overview and Process

The e-voting process was conducted exclusively through electronic mode, commencing from December 1, 2025, at 09:00 a.m. (IST) and concluding on December 30, 2025, at 05:00 p.m. (IST). All six resolutions were passed with requisite majority, as confirmed by Scrutinizer Mr. Umashankar K. Hegde, Practising Company Secretary (Membership No. A22133).

Parameter:	Details
Total Shareholders on Record:	2,41,544 (as on November 21, 2025)
Voting Period:	December 1-30, 2025
Result Declaration:	December 31, 2025
E-voting Agency:	National Securities Depository Limited (NSDL)
Scrutinizer:	Mr. Umashankar K. Hegde (Membership No. A22133)

Detailed Voting Results by Resolution

Next-Generation Director Appointments (Ordinary Resolutions)

Pratik Oswal Appointment and Remuneration:

Resolution Details:	Total Votes Polled	Votes in Favour	Votes Against	Approval Rate
Director Appointment:	32,03,53,103	31,88,75,766	14,77,337	99.54%
Remuneration Approval:	32,03,53,597	31,99,54,880	3,98,717	99.88%

Vaibhav Agrawal Appointment and Remuneration:

Resolution Details:	Total Votes Polled	Votes in Favour	Votes Against	Approval Rate
Director Appointment:	31,87,11,575	31,65,65,086	21,46,489	99.33%
Remuneration Approval:	31,87,12,075	31,83,16,097	3,95,978	99.88%

Independent Director Appointments (Special Resolutions)

Independent Directors Voting Results:

Director Name:	Total Votes Polled	Votes in Favour	Votes Against	Approval Rate
Joseph Conrad D'Souza:	52,15,49,891	51,79,44,486	36,05,405	99.31%
Ashok Kumar P Kothari:	52,15,73,960	52,14,37,151	1,36,809	99.97%

Key Appointments Confirmed

Non-Executive Directors

Pratik Oswal (DIN: 06704419) - Son of Managing Director & CEO Motilal Oswal, currently leads the Passive & Quant Funds Division at MOAMC with educational background from Emory University and London Business School.

Vaibhav Agrawal (DIN: 06663890) - Son of Non-Executive Chairman Raamdeo Agarawal, serves as Chief Investment Officer for Alternate Investments and PMS at MOAMC, overseeing AUM of approximately ₹10,000.00 crores.

Independent Directors

Joseph Conrad Agnelo D'Souza (DIN: 00010576) - Former HDFC Limited executive with 39 years of experience in strategy, treasury, corporate planning, and investor relations.

Ashok Kumar Parasmal Kothari (DIN: 11233451) - Retired Indian Revenue Service Officer and former Commissioner of Central Board of Indirect Taxes and Customs.

Shareholder Participation Analysis

Category-wise Voting Participation:

Shareholder Category:	Shares Held	Voting Participation Rate
Promoter and Promoter Group:	40,64,92,752	49.90-99.40%
Public Institutions:	8,17,91,854	83.43%
Public Non-Institutions:	11,24,97,005	43.80%
Total Outstanding Shares:	60,07,81,611	53.02-86.82%

Regulatory Compliance and Documentation

The company filed the voting results with both BSE Limited (Security Code: 532892) and National Stock Exchange of India Limited (Symbol: MOTILALOFS) pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results and scrutinizer's report are also available on the company's website at www.motilaloswalgroup.com and NSDL's e-voting portal at www.evoting.nsdl.com .

Remuneration Structure Approved:

Component:	Details
Initial Annual Remuneration:	₹1,20,00,000.00
Maximum Potential:	₹2,40,00,000.00 per annum
Duration:	5 years (November 1, 2025 to October 31, 2030)
Structure:	Fixed remuneration only
Source:	MOAMC (wholly-owned subsidiary)

Strategic Implications

The successful completion of the postal ballot represents a significant milestone in the company's generational transition strategy. The appointments bring together next-generation leadership with international education and specialized asset management expertise, alongside experienced independent directors to strengthen governance standards. The overwhelming shareholder support across all resolutions, with approval rates ranging from 99.31% to 99.97%, demonstrates strong confidence in the company's strategic direction and leadership succession planning.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.90%	+0.83%	-0.35%	-7.80%	+4.27%	+440.90%

Motilal Oswal Financial Services Limited (MOFSL) has announced a significant development in its employee stock option program. The company's Finance Committee has approved the allotment of 2,72,379 equity shares to option grantees who exercised their stock options across four different Employee Stock Option (ESOP) schemes.

ESOP Allotment Details

The allotment, which took place on November 20, 2025, was distributed across four ESOP schemes as follows:

ESOP Scheme	Number of Shares Allotted
VI	24,000
VIII	14,000
IX	2,17,879
X	16,500
Total	2,72,379

Key Points of the Allotment

ESOP Scheme IX accounted for the largest portion of the allotment with 2,17,879 shares.
The newly allotted shares will rank equally with existing equity shares in all respects.
This move is part of MOFSL's ongoing commitment to employee ownership and retention.

Regulatory Compliance

The company has informed the BSE Limited and the National Stock Exchange of India Limited about this allotment, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This equity share allotment under the ESOP schemes demonstrates Motilal Oswal Financial Services' continued focus on aligning employee interests with those of the company and its shareholders. It provides eligible employees with an opportunity to participate in the company's growth and success.