MOS Utility to foray into solar energy sector

Fintech company MOS Utility has informed exchanges that its board has proposed to foray into the solar business. According to the company, the board has considered and approved the Alteration of the object clause of the Memorandum of Association of the Company.  

"The board proposed to include certain new business activities in the main objects of the company," the company said in an exchange filing.

The newly proposed clause will enable the company 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.

With this, the company aim to tap into growth opportunities within the solar market, aligning with global sustainability trends.  

By entering the solar energy sector, the company intends to capitalize on the rising demand for sustainable solutions, create new revenue streams, and strengthen its competitive position. 

"This expansion is poised to increase the company's market share and contribute positively to its long-term profitability and growth prospects," the company said.

Incorporated as “MOS Utility Private Limited” on July 27, 2009, the company provide digital products and services in the B2B, B2B2C, and financial technology sectors.