- CEO
- Atish Shelar
- Full Time Employees
- 162
- Sector
- Technology services
- Industry
- Internet software/Services
- Address
- First Avenue Building Mumbai India 400064
- IPO Date
- Apr 18, 2023
- Business
- MOS Utility Ltd (MOS.NS) is a fintech company that provides a unified open API and wallet platform enabling agents to deliver digital financial and utility services across India. Incorporated in 2009 and headquartered in Mumbai, the company operates through Banking Services and Utility Services segments, serving a network of over 150,000 agents, 11,500 distributors, and 900 master distributors nationwide, with a focus on Tier 3-6 towns and rural areas to drive financial inclusion. Its core offerings include instant digital money transfers to bank accounts, AEPS, Micro ATM, and NSDL kiosk services; mobile phone and DTH recharges; utility bill payments for electricity, water, and telecommunications; flight, hotel, and bus bookings; travel, 2-wheeler, 4-wheeler, and health insurance premiums; CMS collections; courier and cargo services; entertainment services; digital marketing; Mera Adhikar portals; and emerging products such as Q-BRIDGE, MOS Digital QR, IRCTC tourism, POS devices, transit and prepaid cards, credit services, and MOS Dhan Vriddhi bundled platform.
In recent developments, MOS Utility expanded its scope in 2024 by revising its Memorandum of Association to include solar energy products such as PV modules and batteries, alongside securing a Master Franchisee License from India Post through its subsidiary MOS Logconnect Private Limited for nationwide postal services. The company completed acquisitions of 51% stakes in JC Ventures Private Limited for INR 30.6 million in February 2024 and Indicore Infocomm Private Limited in early 2024, strengthening its service ecosystem. Further, in 2025, it launched new products including Q-BRIDGE, digital lending, insurance distribution, cross-border remittance capabilities, and API-led embedded finance integrations; announced a 1:1 bonus issue with record date in September 2025; reported robust FY25 growth with double-digit revenue increases to over INR 620 crore driven by banking CSP, bill payments, and travel solutions; and aimed to scale its phygital network to 300,000+ active outlets while disbursing over INR 500 crore in loans to more than 1 crore unique customers. Promoter holding stands at approximately 49.5-51.1%, with no dividend payouts despite consistent profitability.