MOS Utility share price: Leading fintech company MOS Utility Limited has acquired 51 per cent stake in Samriddhi Inclusive Growth Network Private Limited. This company provides a variety of fintech and utility payment solution services to businesses and individuals. Last Friday, the company’s shares saw a rise of 1.48 percent. The stock closed at Rs 319.50 on NSE. With this rise, the company’s market cap has increased to Rs 796 crore. The 52-week high of the stock is Rs 332.90 and the 52-week low is Rs 84.
Acquisition expected to be completed by September 2024
MOS Utility has announced that it has entered into a Share Subscription/Share Purchase Agreement to acquire 51 per cent equity shares of Samriddhi Inclusive Growth Network Private Limited. The company expects to complete the acquisition by September 2024.
FII bought shares of MOS Utility
According to bulk deal data available on NSE, Minerva Ventures Fund and Cent Capital Fund have recently bought stake in MOS Utility. Minerva Ventures Fund has bought 1,29,600 shares in the company at an average price of Rs 285.94. On the other hand, Cent Capital Fund has bought 1,49,600 shares of the company at an average price of Rs 285.
Strong return of 281% in one and a half years
MOS Utility Ltd was listed on the stock market last year. It has given great returns to its investors in a short time. Last year, its IPO came at a price of just Rs 76 per share. Its shares were listed on the NSE SME platform on 18 April 2023.
Investors who had invested in its IPO and have not sold its shares till date, are sitting on a profit of about 320 percent in about one and a half years. Its shares were listed at a price of Rs 90 and at this price, it has given a strong return of about 255 percent to the investors so far.
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