MOS Utility IPO opens tomorrow. Check GMP, key details of the SME issue before you subscribe
1 min read . Updated: 30 Mar 2023, 10:55 AM IST
PremiumMOS Utility IPO's price band is fixed in the range of ₹72 to 76 per share
The Initial Public Offer (IPO) of MOS Utility Limited will open for public subscription tomorrow i.e, on March 31, 2023 and the issue will close on Thursday, April 6, 2023.
MOS Utility IPO will be 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 (OFS) of up to 8,00,000 equity shares by promoter selling shareholder, with a price band of Rs. 72 to 76 as decided by company and promoter selling shareholder in consultation with BRLM. The objects of the offer are to meet working capital requirements and general corporate purposes.
As per market observers, MOS Utility shares are commanding a premium (GMP) of ₹6 in the grey market today. The company's shares are expected to list on April 18, 2023 on the NSE SME platform.
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. Chirag Shah, Kurjibhai Rupareliya and Sky Occean Infrastructure Limited are the promoters of the company.
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.