Image Source : FILE PHOTO File Photo For Representation Only.
The IPO of MOS Utility will open for subscription on March 31. The subscription window will remain open till April 6. The company has fixed the price band of Rs 72 to 76 per share. The IPO comprises 65,74,400 equity shares of face value of Rs 10 each. While 57,74,400 equity shares are fresh issue, 8,00,000 equity shares are Offer For Sale by the promoters.
The allotment will be finalised on April 12 by the company. Unistone Capital Pvt Ltd is the Book Running Lead Manager (BRLM) to the issue and Skyline Financial Services Pvt Ltd. is the registrar.
ALSO READ: EPFO fixes 8.15% interest rate on employees’ provident fund for fiscal 2022-23
While 35 per cent of the issue has been reserved for retail, 50 per cent has been reserved for qualified institutional buyers and 15 per cent for non-institutional investors.
The company has filed its IPO papers for listing on NSE Emerge platform. The listing will take place on April 18. In the grey market, each share of MOS Utility traded at a premium of Rs 4.5 to Rs 8, which is up to 10 per of the upper band.
MOS Utility has said that the proceeds from the issue will be utilised to meet working capital requirements and general corporate purposes. Incorporated in 2009, MOS Utility is a technology enabled provider of digital products and services in the B2B and B2B2C segment.
ALSO READ: Disney to layoff 7,000 employees this week: What CEO Bob Iger said in his email
For the year ended 31 March, 2022, the company reported a revenue of Rs 77.34 crore, registering a growth of 14.30 per cent YoY. A large portion of the company’s revenue is generated from the utility services.
Latest Business News
Source link
