MOFSL books Rs. 114 crores profit through sale of equity investments in GR Infraprojects Limited

Motilal Oswal Financial Services Limited (MOFSL) along with its Subsidiary companies (collectively referred to as "Group") has realised profits of Rs. 114 crores (post tax) from sale of its Equity Investments held in GR Infraprojects Limited, invested through the Private Equity Funds - India Business Excellence Fund (IBEF) and India Business Excellence Fund-I (IBEF-I). The above amount is received, consequent to IBEF and IBEF-I's exit of equity shares held of GR Infraprojects Limited through Initial Public Offering. The Mark to Market profits already recognised by the Group on the GR Infraprojects Investment prior to the aforesaid exit has been Rs. 43 crores (post tax) till March 31, 2021 and accordingly, the Group would book incremental Profits (post tax) of Rs. 71 crores in Q2 FY 22 in this respect.

Shares of MOTILAL OSWAL FINANCIAL SERVICES LTD. was last trading in BSE at Rs. 943.25 as compared to the previous close of Rs. 1060.05. The total number of shares traded during the day was 203522 in over 12742 trades.

The stock hit an intraday high of Rs. 1007.05 and intraday low of 935. The net turnover during the day was Rs. 198198599.

Source : Equity Bulls

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