Motilal Oswal ventures into housing finance space

Motilal Oswal Financial Services, a domestic brokerage firm, has ventured into the home finance space with an initial capital of Rs 100 crore. In order to begin its operations, Aspire Home Finance Corporation (AHFC) has received a certificate of registration from sector regulator National Housing Bank (NHB). The company is eyeing the disbursal target of Rs 216 crore in the first year. The company will focus on affordable housing units and disburse loans under Rs 25 lakh in the suburbs of Mumbai, Pune, Nagpur, Akola, Nasik, Indore, Ahmedabad, Surat, Vadodara and Bhopal. Motilal Oswal Financial Services is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies.