MOS Utility
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 31 Mar 2023 – 06 Apr 2023
- Listing date
- 18 Apr 2023
- Face value
- ₹10 per share
- Issue price
- ₹76 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Total issue size
- ₹49.97 Cr
- Market cap at offer price
- ₹190 Cr
- Promoter holding
- 82.91% → 60.50% pre-issue → post-issue
- ISIN
- INE0N7S01010
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Unistone Capital Pvt.Ltd.
- Registered office
- 12th Floor, Atul First Avenue, Above Kia Motors, Showroom, Goregaon-Mulund Link Rd, Malad (West), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 15,98,400 | — | — |
| Market maker | 3,29,600 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹76
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,21,600 |
| S-HNI (min) | 2 | 3,200 | ₹2,43,200 |
| S-HNI (max) | 8 | 12,800 | ₹9,72,800 |
| B-HNI (min) | 9 | 14,400 | ₹10,94,400 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 0.86 | — |
| P/E (×) | 88.37 | — |
| Market cap | — | ₹190 Cr |
Key performance indicators
- Return on net worth
- 18.66%
- ROCE
- 12.91%
- Debt / equity
- 1.53
- PAT margin
- 1.95%
- EBITDA margin
- 4.87%
- NAV per share
- ₹4.63
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About MOS Utility
MOS Utility Limited, incorporated on July 27, 2009 in Mumbai as MOS Utility Private Limited and converted into a public limited company in August 2022, is a technology-enabled provider of digital products and services operating through its web portal www.biz-solutionz.com and mobile apps. As of September 30, 2022 it had over 1,68,018 network partners (agents, distributors and master distributors) across India who fund wallets on the platform and serve end customers with banking services (direct money transfer, micro-ATM/AEPS, NSDL kiosk banking), travel bookings (rail as an authorised IRCTC Principal Service Provider, flight, bus, hotel), insurance distribution, mobile/DTH recharges, BBPS bill payments, cash-management services for MFIs/NBFCs, credit-card bill payments, PAN card applications, entertainment ticketing (amusement parks, aqua parks and Film City tours, including operating Bollywood Park studios at Film City under an agreement with MFSCDCL), white-label API/wallet/franchise offerings and courier services. The company earns fees and commissions from service providers on a per-transaction basis, splitting a portion with its network partners, and charges one-time onboarding fees from franchisees; revenue from operations was ₹ 5,330.22 lakhs for the six months ended September 30, 2022 (FY2022: ₹ 7,734.01 lakhs) with profit after tax of ₹ 195.84 lakhs (FY2022: ₹ 157.67 lakhs). It is promoted by Chirag Shah, Kurjibhai Rupareliya and Sky Occean Infrastructure Limited and is listing on the EMERGE platform of NSE.
Company Analysis
from RHPMOS Utility Limited is a technology-enabled fintech and digital-services company that operates an integrated B2B/B2C/B2B2C platform (www.biz-solutionz.com) providing banking-correspondent services, travel bookings, insurance distribution, utility/bill payments, entertainment ticketing, white-label API/franchise solutions and courier services across India.
MOS Utility Limited, incorporated on July 27, 2009 in Mumbai as MOS Utility Private Limited and converted into a public limited company in August 2022, is a technology-enabled provider of digital products and services operating through its web portal www.biz-solutionz.com and mobile apps. As of September 30, 2022 it had over 1,68,018 network partners (agents, distributors and master distributors) across India who fund wallets on the platform and serve end customers with banking services (direct money transfer, micro-ATM/AEPS, NSDL kiosk banking), travel bookings (rail as an authorised IRCTC Principal Service Provider, flight, bus, hotel), insurance distribution, mobile/DTH recharges, BBPS bill payments, cash-management services for MFIs/NBFCs, credit-card bill payments, PAN card applications, entertainment ticketing (amusement parks, aqua parks and Film City tours, including operating Bollywood Park studios at Film City under an agreement with MFSCDCL), white-label API/wallet/franchise offerings and courier services. The company earns fees and commissions from service providers on a per-transaction basis, splitting a portion with its network partners, and charges one-time onboarding fees from franchisees; revenue from operations was ₹ 5,330.22 lakhs for the six months ended September 30, 2022 (FY2022: ₹ 7,734.01 lakhs) with profit after tax of ₹ 195.84 lakhs (FY2022: ₹ 157.67 lakhs). It is promoted by Chirag Shah, Kurjibhai Rupareliya and Sky Occean Infrastructure Limited and is listing on the EMERGE platform of NSE.
Objects of the Issue
- To meet the working capital requirements ₹ 2,600.00 Lakhs p.86
- General corporate purposes ₹ 1,125.21 Lakhs p.88
- Offer related expenses in relation to the Fresh Issue ₹ 663.33 Lakhs p.85
Issue Structure
- Total Issue
- 65,74,400 Equity Shares aggregating to ₹ 4,996.54 Lakhs
- Fresh Issue
- 57,74,400 Equity Shares aggregating to ₹ 4,388.54 Lakhs
- Offer for Sale
- 8,00,000 Equity Shares aggregating to ₹ 608.00 Lakhs (by Promoter Selling Shareholder Sky Occean Infrastructure Limited)
- Price Band
- Floor Price ₹ 72 per Equity Share – Cap Price ₹ 76 per Equity Share (final Offer Price fixed at ₹ 76 per Equity Share)
- Lot Size
- 1,600 Equity Shares and in multiples of 1,600 Equity Shares thereafter
- Face Value
- ₹ 10 each
Business Model
Intermediary/commission-based model: MOS enrolls shopkeepers, retailers, students, housewives, professionals and insurance agents as network partners who deposit funds into wallets on its platform and transact for their customers; MOS acts as a mediator between service providers (banks/NPCI, IRCTC, airlines, bus operators, hotels, insurers, UTIITSL/NSDL, MFIs/NBFCs, courier companies) and these partners, receiving commissions and fees for each transaction and sharing part of the commission with the network partner as per agreed ratios; it also earns one-time onboarding fees from franchisees for access to APIs, wallet integration, B2B white-label products and mobile applications, plus booking/convenience fees (e.g., film city tours).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Chirag Shah | Promoter | 9.45% | 7.26% |
| Kurjibhai Rupareliya | Promoter | 55.52% | 42.66% |
| Sky Occean Infrastructure Limited | Promoter / Promoter Selling Shareholder | 17.94% | 10.58% |
| Lalita Rupareliya | Promoter Group | 5.42% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.