Moneyview is set to make its stock market debut on Thursday, October 1, with investors tracking the latest grey market premium (GMP) ahead of the listing on NSE and BSE. Ahead of its listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), the latest grey market premium (GMP) stood at Rs 14.6. This indicates an estimated listing price of 42.94% premium over the upper price band of Rs 34.
Note: GMP is entirely unofficial, based on speculative unlisted market demand, and does not guarantee the actual listing price.
Moneyview IPO GMP, Expected Listing Price
The latest Grey Market Premium (GMP) for Moneyview IPO was reported at Rs 14.6 as of 7:30 a.m. on October 1. With the upper price band of Rs 34 the estimated listing price of the IPO is Rs 48.6 (cap price + today's GMP). This implies a strong potential listing premium of 42.94% over the issue price.
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Moneyview IPO Final Subscription Status
The initial public offering (IPO) of Moneyview was oversubscribed 98.46 times on the third and final day of bidding on Sept. 28, according to NSE data.
The category-wise subscription breakdown is as follows:
- Qualified Institutional Buyers (QIB): 227.45 times
- Non-Institutional Investors (NII): 115.41 times
- Retail Investors: 19.57 times
The basis of allotment for the Moneyview IPO was finalised on Sept. 29. Refunds and credit of shares to successful applicants' demat accounts were scheduled for Sept. 30, ahead of the listing on Oct. 1.
Moneyview IPO Details
Moneyview IPO is a book-build issue of Rs 1,091.68 crore.
- The issue is a combination of fresh issue of 22.06 crore shares aggregating to Rs 750 crore, and
- Offer for sale 10.05 crore shares aggregating to Rs 341.68 crore.
The final issue price for the IPO was set at Rs 34 per share. Retail investors were required to bid for a minimum lot size of 441 shares, translating to a minimum investment of Rs 14,994 at the upper end of the price band.
Axis Capital Ltd., BofA Securities India Limited, Kotak Mahindra Capital Company Limited and IIFL Capital Services Limited are the book running lead managers and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
Moneyview IPO: Use Of Proceeds
The company proposes to utilise the net proceeds from the issue towards the following objects:
1. Investment to drive growth in loan disbursals under default loss guarantee (DLG) arrangements (Rs 325 crore)
2. Investment in WFPL, the Material Subsidiary, for the purpose of augmenting its capital base (Rs 250 crore)
3. The remaining amount will be used for general corporate purposes (Rs 111.72 crore) and issue expenses (Rs 90.96 crore).
About Moneyview (India) Ltd.
Incorporated in 2014, Moneyview Ltd. is a fintech company incorporated in India that provides digital financial services through its mobile platform. The company focuses on offering accessible and technology-driven financial solutions to individuals. It operates a digital platform that provides personal loans, credit tracking, and financial management services.
It uses data analytics and technology to assess creditworthiness and deliver quick loan approvals to customers. The company's platform functions as a two-sided network, connecting their users seeking financial products with banks, NBFCs, insurers, and other financial institutions offering such products.
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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