Mood: The mood of the video appears to be lively and engaging, with a theme of excitement and anticipation. The presence of a starcast and an event at a prestigious institution like IIT Bombay suggests a fun and energetic atmosphere.

Environment: The setting of the video seems to be a promotional event or a gathering at IIT Bombay, possibly a college campus. The dark purple curtain in the background and the formal yet casual attire of the individuals suggest a mix of a formal and informal setting.