Pursuant to provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), Motilal Oswal Financial Services has informed 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.
The above information is a part of company’s filings submitted to BSE.
