MOS Utility to acquire 51% stake in Samvriddhi Inclusive Growth Network

MOS Utility - which offers different types of Fintech and Utility Payment Solutions services to businesses and individuals - has announced its plan to acquire a 51 per cent stake in Samvriddhi Inclusive Growth Network Pvt Ltd. 

Earlier, Minerva Ventures Fund and Saint Capital Fund picked up stakes in fintech company MOS Utility at an average price of Rs. 285.94 and Rs. 285 respectively. 

Recently, the company announced that its board and shareholders approved the alteration of the object clause of the Memorandum of Association of 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," the company said.

The company's strategic expansion into the solar energy sector underscores its commitment to diversifying business activities and enhancing its business portfolio. This move reflects the company's aim to tap into growth opportunities within the solar market, aligning with global sustainability trends. By entering the solar energy sector, 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.

MOS Utility Limited offers businesses and individuals different types of Fintech and Utility Payment Solutions services. With a customer-centric approach, MOS Utility Limited is committed to delivering seamless and secure fintech solutions that enhance accessibility and drive financial inclusion.