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Shareholding Info
  • Promoters
    72.78 %
  • Foreign institutions-FII
    6.89 %
  • Other domestic institutions
    4.54 %
  • Retail and other
    10.85 %
  • Mutual Funds
    4.94 %

About Oracle Financial Services


Oracle Financial Services Software Limited offers information technology and business processing solutions to the financial service industry. A major owned subsidiary of Oracle Corporation, the company is engaged in product licence and related activities (product) and information technology and consulting (services) business. The product segment deals with banking software products and related activities. The service segment of the company offers services spanning the entire lifecycle of applications used by financial institutions. OFSSL operates in 140 countries, covering 15% of the total world population through its operations.

Business operation


The company was originally incorporated as Citicorp Information Technology Industries Ltd (CITIL) in 1989. It began its first year of operation in 1992 and in three years, achieved recognition for its products. CITIL established the Centre of Excellence in 1996 for business intelligence, offering specialised consulting and software products and services in data warehousing and business intelligence.

i-fl ex solutions b.v., a wholly owned subsidiary of the company was established in Amsterdam, The Netherlands. The company was renamed to i-flex Solutions Limited in 2000. The company's financial software development facilities were established in Pune and Chennai in 2001. Fully owned subsidiaries were set up in the USA and Singapore.

The firm joined hands with EBZ Online, a software company, in 2002 to make its product, Flexcube available to cooperative banks.

The company launched its initial public offering (IPO) in 2002. The same year, it opened its first overseas software development centre in Singapore. In 2004 i-flex opened its wholly owned holding company in the US – i-flex America— to carry out all future acquisitions in the country.

The company and Yes Bank signed a Global Strategic Memorandum to collaborate on technology-led innovations to enhance quality and efficiency in banking products and delivery processes

In 2005, Oracle Corporation bought Citigroup's 41 percent equity interest in i-flex and floated an open offer to purchase up to an additional 20 percent ownership from existing shareholders.

In 2008, the company was renamed Oracle Financial Services Software Limited. The next year, the company teamed up with Solix Technologies to offer Solix EDMS as embedded functionality in Oracle Flexcube to help automate archive and purge processes by classifying data configuring and executing archiving and data migration routines.

In 2017, Oracle Financial Services acquired a 99.99% stake in Mantas India Private Limited, a step-down subsidiary of the company from Sotas Inc, another step-down subsidiary.

The company’s board of directors approved the restructuring of ownership of its Indian step-down subsidiaries for acquiring a majority stake in Mantas India Private Limited and Oracle (OFSS) BPO Services Limited in 2019.

OFSSL launched Oracle Banking Cloud Services in 2023. The service helps banks renovate and modernise their business capabilities faster and with less risk.

As of January 12, 2024, the company’s market capitalisation is over ₹40,340 crore. Oracle Financial Services share price has gained by over 34% in the last three years.


Financial Highlights


  • Oracle Financial Services’ total revenue from operation in FY23 stood at ₹5,698.3 crore, recording a dip of 9.13 % from ₹ 5,221.4 crore in the last financial year.
  • The company reported a net profit of ₹1,806.14 crore in FY23 as against ₹ 1888.82 crore in FY22.
  • The operating income stood at ₹2,378 crore in FY23 as against ₹2,394 crore in FY22.
  • Its basic earnings per share (EPS) slipped to ₹209.14 in FY23 from ₹219.19 in the last financial year.
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