MOS Utility Ltd. Board Approves 1:5 Stock Split and 1:1 Bonus Issue
MOS Utility Ltd. (NSE: MOS), a pioneering fintech company, has announced that its board has approved the Sub-division/Split of equity shares of the Company from face value of ₹10 each to face value of ₹2/- each, subject to the approval of regulatory/statutory authorities and the shareholders of the Company. The rationale behind split is to encourage wider participation by small investors; and To enhance liquidity of the equity shares of the Company in the Stock Market
The Board of Directors has further approved the issue of Bonus Shares in the ratio of 1:1, i.e. 1 equity share of ₹2/- each for every 1 equity share of ₹2/- each held by the shareholders of the Company as on record date, (to be determined by the board and shall be intimated to the exchange), subject to the approval of regulatory/statutory authorities and the shareholders of the Company
Earlier, the company, through its subsidiary MOS LOG Connect Private Limited, announced the formalization of a service agreement with Spacemantra Solutions Private Limited, a subsidiary of Rhiti Sports Group. Rhiti Sports, a leading name in innovation-driven initiatives, has announced a strategic partnership with MOS Utility Ltd. to redefine India’s lotto industry.
This agreement aims to drive the marketing and sale of online lotto tickets across India. Under this agreement, MOS LOG Connect will act as a master marketing agent for the sale of online lotto tickets, leveraging its extensive distribution network and advanced technology platform to deliver seamless, secure, and accessible services. Under this initiative, MOS Utility Ltd and Rhiti Sports will empower agents nationwide to facilitate the sale of online lotto tickets. The project aligns with the “Digital India” vision, promoting transparency and creating job opportunities across urban and rural areas.
MOS Utility Limited is set to unlock new opportunities and enhance its market presence through a strategic partnership with Rhiti Sports Group for online lotto Ticket Distribution. This collaboration will be governed by the specifications of work, conduct, requirements, standards, and operating procedures outlined in the Agreement. This new business venture is expected to significantly contribute to the growth in revenue and profitability of MOS Utility Limited.
MOS Utility Limited is one of the leading fintech companies, offering different types of Fintech and Utility Payment Solutions services to businesses and individuals. With a customer-centric approach, the company is committed to delivering seamless and secure fintech solutions that enhance accessibility and drive financial inclusion. MOS has rich and varied experience with reputed Giant corporations in India, MOS is a conglomerate of various businesses web & App based banking /travel/utility services etc. MOS has set up a well-knit Agent network over more than 25 states which is a vast network that would result in a massive impact in reaching last-mile consumers.