Motilal Oswal Financial Services IPO opens on 20 Aug 2007

Price band Rs 725-825 per share

Motilal Oswal Financial Services is planning to raise Rs 216-246 crore through an initial public offer (IPO). The company has fixed the price band between Rs 725-825 per share.

The 29.8 lakh share issue will open on 20 Aug 2007 and close on 23 Aug 2007.

The money would be used to expand its business in organic and inorganic terms.

The company plans to grow its investment banking, private equity and distribution of third-party financial products. Broking and related services contribute 85-86% of its revenues.