MOS Utility Limited Lists with Handsome Gains

by Priya Jadhav

Mumbai, 18 April 2023: Incorporated in 2009, MOS Utility Ltd. (NSE: MOS) is a technology enabled provider of digital products and services in the B2B and B2B2C segment. The company was listed on the National Stock Exchange (NSE) SME Platform at Rs 90, at a premium of 18.42% to the issue price. The stock price closed at a high of Rs 94.50. Unistone Capital Pvt Ltd is the lead manager to the issue, and Skyline Financial Services Pvt Ltd. is the registrar to the issue.

The Initial Public Offer of up to 69,50,000 equity shares of face value of ₹ 10 each comprising of Fresh Issue of up to 61,50,000 equity shares and an ‘Offer For Sale’ of up to 8,00,000 equity shares by promoter selling shareholder, was over-subscribed.

MOS Utility SME IPO was subscribed 21.14 times on Apr 6, 2023 7:30:00 PM. 11.98 times in the retail category, 11.67 times in the QIB category, and 57.90 times in the NII category saw subscriptions for the public offering. The total number of shares bid for the retail category was 2,61,85,600 compared to the shares offered of 21,85,600, the total number of shares bid for NII category was 5,42,86,400 compared to the shares offered of 9,37,600, and the total number of shares bid for QIB category was 1,77,72,800 compared to the offered shares of 15,23,200.

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.

Incorporated in 2009 and based out of Mumbai, MOS Utility Limited (“MOS”) is a technology enabled provider of digital products and services in the B2B and B2B2C segment. MOS has created an integrated website 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 provides business opportunities to shopkeepers, retailers, students, housewives, professionals, insurance agents to start their own online B2B business with an 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.