Finance

MOS Utility, Two foreign funds buys total of 2.99 lakh shares in bulk deal

Mumbai (Maharashtra) [India], May 6:  Two foreign funds have bought total of 2,99,200 shares of MOS Utility Limited (further referred to as “MOS”) in a bulk deal on 2 May 2024. Saint Capital Fund and Zinninai Global Fund PCC- Cell Dewcap fund have bought 1,49,200 shares each in the company. Both funds together have bought shares worth Rs. 5.77 crore in the company.

  • Saint Capital Fund and Zinninai Global Fund PCC- Cell Dewcap fund bought 1,49,200 shares each in the company on 2 May 2024
  • Both funds together have bought shares worth Rs. 5.77 crore in the company.

On 2 May 2024, Saint Capital Fund bought 1,49,200 shares of MOS Utility at Rs. 193.96 per share, investing Rs. 2.90 crore. Saint Capital Fund is a SEBI registered FPI and a boutique Global Investment Fund with prime focus on long term investment in growth companies and create exceptional impact driven by success. The objective is to create wealth over a long period of time through investing in diverse range of assets.

Zinninai Global Fund PCC- Cell Dewcap fund also bought 1,49,200 shares of MOS Utility at Rs. 191.98 per share, investing Rs. 2.87 crore. Zinnia global fund PCC is a boutique firm that offers advisory and fund management services to global investors. It focuses on traditional asset classes like debt, listed & unlisted equities & derivatives.

MOS Utility Limited is a pioneering fintech company that provides a wide range of innovative payment solutions and utility services to businesses and individuals. Company has rich and varied experience with reputed Giant corporations in India. It has established an extensive network of Business Correspondents (TeamBC) spanning over 25 states, poised to make a significant impact in reaching the last mile consumer.  

Recently, MOS Utility Limited and Bank of India unite to Empower Business Correspondents (BC) and Enhance Financial Inclusion.

MOS Utility Ltd was originally incorporated as ‘MOS Utility Private Limited’ on July 27, 2009, as a private limited company issued by RoC, Mumbai. The Company was converted into a public limited company and the name of the Company was changed to MOS Utility Limited vide a Fresh Certificate of Incorporation on August 03, 2022.

The Company is one of the fastest growing Fintech Companies, B2B E-commerce Companies and promotes the government’s ongoing mission, ‘Vocal for Local’ to scale new heights in digital India. Its performance is backed by the finest technology and operational platform. It provides a platform to agents who then facilitate booking of instant flight tickets, hotel booking, bus booking, recharge any mobile phone and DTH, digitally transfer money to any bank account, AEPS, Bill payments of electricity, telephone, and insurance premiums and to Sell Travel, 2- Wheeler, 4-Wheeler and health insurance without any investment and by the agent just with the help of PC or Laptop with an Internet connection.

The Company organizes business under 7 primary business segments, comprising of banking, travel, insurance, utility services, entertainment services, franchisee, and other services. It is a technology provider of digital products and services in the B2C, B2B and financial technology through an integrated business model via the online portal i.e. www.biz-solutionz.com. It provides courier franchises or authorizes their agents/distributors as partners. As of September 30, 2022, the Company had over 1,68,018 network partners which includes agents, distributors, and master distributors for payment solutions, remittance, utility, travel, and insurance products.

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