MOS Utility Ltd to launch IPO on 31st March

The Initial Public Offer of up to 65,74,400 equity shares of face value of ₹ 10 each comprising of fresh issue of up to 57,74,400 equity shares and an Offer For Sale of up to 8,00,000 equity shares by promoter selling shareholder, will open on 31/3/2023 and close on 06/04/2023, with a price band of Rs. 72 to 76 as decided by company and promoter selling shareholder in consultation with BRLM.

According to the market to current GMP is INR 4.5 to INR 8

The objects of the offer are “To meet working capital requirements and general corporate purposes”.

For the quarter ended 30 September, 2022, the company had reported a Rs.53.30 Cr Revenue, with PAT coming in at Rs. 1.95 Cr. For the year ended 31 March, 2022, the company reported a revenue of Rs. 77.34 Cr (growth of 14.30% YoY), and PAT came in at Rs. 1.57 Cr (growth of 86.18% YoY). The company has been profitable in FY22 & FY21 as well. A large portion of the company’s revenue is generated from the Utility services.

MOS Utility Limited (“MOS”) is a technology-enabled provider of digital and financial service to local communities over the last mile. MOS has created an integrated website (i.e. www.mos-world.com) and an app-based platform. Through its integrated platform, MOS enlists various network partners and provide them access to the platform as well as their own wallet. The company is led by Ravi Ruparelia (Managing Director), and Chirag Shah (Founder and CEO).

The company provides business opportunities to shopkeepers, retailers, students, housewives, professionals, insurance agents to start their own online Digital service business with the intention to promote government’s “Vocal for Local” campaign. Through its platform, network partners can provide services such as banking, travel, insurance, entertainment and various utility services.