MOS Utility Limited IPO

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i. MOS Utility is a technology enabled provider of digital products and services in the B2C, B2B and financial technology arena through an integrated business model via their online portal i.e. www.biz-solutionz.com.

ii. They provide business opportunities for shopkeepers, retailers, students, housewives, professionals, insurance agents to start their own futuristic online e-commerce business with an intention to promote government’s “Vocal for Local” campaign.

iii. The company organize its business under seven primary business segments,
(i) banking,
(ii) travel,
(iii) insurance,
(iv) utility services,
(v) entertainment services,
(vi) franchisee and
(vii) other services.

iv. The company has “phygital” strategy (i.e. physical and digital) that combines over 1,68,018 network partners which includes agents, distributors and master distributors for payment solutions, remittance, utility, travel and insurance products etc throughout PAN India with a digital online platform for its offerings.

v. They have created an integrated platform which is web i.e. http://www.biz-solutionz.com/ and app based. In this platform, the company enroll its network partners and provide them the access to their platform and his own wallet. Through the platform, agents have to deposits funds in his wallet and subsequently he can start providing various services available on the platform to his customers. This way, the company act as a mediator between its service provider, its network partners and the customers that their network partners serve. To act as a mediator, company receive commission from the service provider, and it share the same in the ratio according to its understanding with its network partners.

Competitive Strengths

i. Integrated business model offering one-stop-shop for B2B, B2C and B2B2C
ii. Multiple cross-selling opportunities, synergies, network effect and wide reach for customer acquisition
iii. Diversified product portfolio resulting in our lesser dependence on a single industry, product or services.

Objects of the MOS Utility Limited IPO:

The company intends to utilize the proceeds of the issue for the following objectives: i. To meet the working capital requirements. ii. General corporate purposes and offer related expenses.
DRHP of MOS Utility Limited IPO
RHP of MOS Utility Limited IPO

MOS Utility Limited IPO Details:

Open Date: Mar 31 2023
Close Date: Apr 06 2023
Total Shares: 6,574,400
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 49.97 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 72-76 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 18 2023

Promoters And Management:

i. Ravi Ruparelia aged 30 years, has been appointed as a Managing Director of the Company with effect from December 01, 2022. He holds Bachelor of Civil Engineering Degree from R. K. College of Engineering and Technology. He has an experience of around six years in the field of civil engineering and he looks after the overall operations of the Company and is responsible for driving company’s growth and profitability. ii. Santosh Ramrao Mijgar aged 43 years, has been appointed as an Executive director of the Company with effect from February 02, 2016. He holds a Bachelors’ degree in Arts from Dr. Babasaheb Ambedkar Marathwada University, Aurangabad, Maharashtra. An actor by profession in the Marathi film industry having acted in the films like “Patil”, he brings on his experience of creating various concepts such as The Bollywood City Tour, Bollywood Tour and Ramayan Theme Park etc. iii. Hiteshbhai Ghelabhai Ramani aged 41 years, is a Non-Executive Director of the company. He holds a Bachelors of Commerce from Saurashtra University. He has fourteen years of experience dealing in the stock market. He is authorised person of Jainam Broking Limited.

Financials of MOS Utility Limited IPO:

Particulars (in Lakhs) 2022 2021 2020
Revenue From Operations 7,734 6,766 8,819
Operating Expenses 7,339 6,478 8,169
Change in Inventories -59 0 21
Employees Benefit Expenses 148 10 378
Other Expenses 273 127 273
EBITDA 33 151 -22
OPM 0.43% 2.23% -0.25%
Other Income 362 26 337
Depreciation 118 82 155
Finance Cost 98 42 40
PBT 179 53 120
Tax 21 -33 63
Profit from Discontinued Operations 0 0 71
PAT 158 86 128
NPM 1.95% 1.27% 1.40%
Shares 257.35 257.35 257.35
EPS 0.61 0.33 0.50

Comparison With Peers:

Name of the Companies Revenue (Cr) Profit (Cr) EPS P/E CMP MCap
MOS Utitity Limited 107 3.91 1.52 49.95 76 195.5
Easy Trip Planner Limited 378 133 0.77 53 40.5 7,040

Recommendation on MOS Utility Limited IPO:

Review and Recommendation of MOS IPO by IZ team is 3/10 1. They help shopkeepers, retailers, students, housewives, professionals, insurance agents to start their own futuristic online e-commerce business. 2. They do their business under seven primary business segments, (i) banking, (ii) travel, (iii) insurance, (iv) utility services, (v) entertainment services, (vi) franchisee and (vii) other services. 3. They have created an integrated platform which is web i.e. http://www.biz-solutionz.com/ and app based. In this platform, they enroll network partners and provide them the access to the platform and his own wallet. Through its platform, their agents have to deposits funds in his wallet and subsequently he can start providing various services available on the platform to his customers. They act as a mediator between the service provider, the network partners and the customers that the network partners serve. To act as a mediator, they receive commission from the service provider, and they share the same in the ratio according to their commission structure with their network partners. 4. They are simply a mediator with wafer thin operation margins. 5. There is hardly any growth in the business from 2020 to 2022. 6. IPO is asking Mcap of 200 Crores and P/E of 50x.

Lead Manager of MOS Utility Limited IPO:

  1. Unistone Capital

Registrar of MOS Utility Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

MOS Utility Limited 12th Floor, Atul First Avenue, Above Kia Motors Showroom, Goregaon - Mulund Link Rd, Malad West, Mumbai- 400064 Phone: +91 84337 24642 Email: secretarial@mos-world.com Website: https://www.mos-world.com/

Discussion on MOS Utility Limited IPO:

2 Comments

    1. They have created an integrated platform which is web i.e. http://www.biz-solutionz.com/ and app based.

    2. In this platform, they enroll network partners and provide them the access to the platform and his own wallet.

    3. Through its platform, their agents have to deposits funds in his wallet and subsequently he can start providing various services available on the platform to his customers.

    4. They act as a mediator between the service provider, the network partners and the customers that the network partners serve.

    5. To act as a mediator, they receive commission from the service provider, and they share the same in the ratio according to their commission structure with their network partners.

    Reply

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