Moneyview Ltd. made a strong debut on the stock market on Thursday, listing at a premium of 63% to its IPO price. The stock opened at Rs 55 on the NSE which is a 61% rise from the IPO price of Rs 34. On the BSE, it began trading at Rs 55.61 per share which marks a 63% premium.
The initial share sale of digital lending platform Moneyview Ltd. received 98.46 times subscription on the final day of bidding on Monday. The company's Rs 1,092-crore IPO received bids for 22,89,51,64,593 shares against 23,25,24,175 shares on offer, as per the NSE data.
The Qualified Institutional Buyers (QIBs) led the demand with a strong subscription of 227.45 times in the category. The non-institutional investors segment was subscribed 115.41 times, while the retail portion was booked 19.57 times. The initial public offering of Moneyview Ltd was fully subscribed on the first day of bidding on Thursday, led by non-institutional and retail investors.
The IPO has a price band of Rs 32-34 per equity share. At the upper end of the price band, the company will have an implied post-issue market capitalisation of Rs 6,000 crore.
Moneyview on Wednesday raised Rs 327.5 crore from anchor investors. Moneyview's IPO comprises a fresh issue of shares worth Rs 750 crore and an Offer-for-Sale (OFS) of 10.05 crore equity shares, amounting to Rs 342 crore at the higher end of the issue price, by existing shareholders.
Axis Capital, BofA Securities India, IIFL Capital Services and Kotak Mahindra Capital Company are the book-running lead managers to the issue.
About Moneyview
Founded in 2014 by IIT Delhi graduates Puneet Agarwal and Sanjay Aggarwal, Moneyview operates as a digital-only, credit-led fintech platform offering financial products across borrowing, transactions, investments and protection segments. Its flagship digital personal loan business, launched in 2017, remains a key contributor to the company's operations.
Beyond personal loans, the company has expanded into products and services including earned wage access, home loans, loans against property, digital gold and UPI transactions.
Of the fresh issue proceeds, Rs 325 crore will be used to support the company's lending operations, while Rs 250 crore will be invested in augmenting the capital base of its NBFC subsidiary. The remaining funds will be utilised for general corporate purposes.
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