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MOS Utility IPO opens tomorrow. Check GMP, key details of the SME issue before you subscribe

Utility,

MOS Utility Limited’s Initial Public Offering (IPO) will open for public subscription tomorrow, March 31, 2023, and will end on Thursday, April 6, 2023.

The MOS Utility IPO will consist of up to 65,74,400 equity shares with a face value of 10 each. The new issue will consist of 57,74,400 equity shares, and the promoter selling shareholder will offer for sale (OFS) 8,00,000 equity shares at a price range of Rs. 72 to 76, as determined by the Selling Shareholder, the Company, and the BRLMs. The offer’s goals are to accomplish general corporate objectives and meet working capital requirements.

MoS are currently commanding a utility share premium (GMP) of 6 in the gray market, according to market observers. On April 18, 2023, the company’s shares are expected to be listed on the NSE SME platform.

MOS Utility Limited (MOS) is a local communities’ last-mile digital and financial service provider that uses technology. MOS has developed an app-based platform and an integrated website (www.mos-world.com). MOS lists its network partners and grants them access to the platform and its own wallet through its integrated platform. Chirag Shah (founder and CEO) and Ravi Ruparelia (Managing Director) are in charge of the business.

The company gives shopkeepers, retailers, students, housewives, professionals, and insurance agents business opportunities to start their own online digital service businesses in order to promote the government’s “Vocal for Local” campaign. It is able to offer services like network partner through its platform. entertainment, insurance, banking, travel, and a variety of utility services.

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