Small-cap stock MOS Utility share price hits new high after this acquisition update. Details here | Stock Market News
Source: Live Mint
Stock Market Today: MOS Utility Ltd share price hits new highs after it announces its plans to acquires 51% Stake in Samvriddhi Inclusive Growth Network Pvt Ltd.
MOS Utility share price that opened at ₹320.00 on the NSE on Friday, higher than previous close of ₹314.85, however gained further. The MOS Utility share price hit 1-year high of ₹332.90 during intraday trades which also remains new high.
MOS Utility share has given Multibagger returns to investors having risen more than three folds from ₹97 level to ₹320 levels now during last one year
A fintech provider MOS Utility Limited, which provides both consumers and enterprises with a range of Fintech and Utility Payment Solutions services, has announced that it has entered into Share subscription/share purchase agreement to acquire 51% equity shares of Samvriddhi Inclusive Growth Network Private Limited, which is engaged in the business of providing financial inclusion and financial services etc. related services on pan India basis through its network of agents.
The company expects to complete the acquisition by September 2024
According to recent bulk deal data that is available on the NSE, on September 5, 2024, Minerva Ventures Fund and Saint Capital Fund acquired a stake in MOS Utility. at an average price of Rs. 285.94 and Rs. 285 respectively,
MOS Utility also has added certain new business activities related to manufacture, assemble, purchase, import, export, and otherwise deal in India or abroad in all types of solar PV modules, cells, batteries, energy storage devices, conversion and generation devices, appliances, gadgets, equipment, and products, including power packs, power supplies, generators, solar panels, chargers, and sub-assemblies, components, parts, and accessories thereof and to engage in all connected business related to solar.”
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