Moneyview shares list at 64% premium after strong IPO demand
On the BSE, Moneyview opened at Rs 55.61 per share, a 63.6% premium over the issue price of Rs 34.
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On the BSE, Moneyview opened at Rs 55.61 per share, a 63.6% premium over the issue price of Rs 34.
Qualified institutional buyers (QIBs) drove the demand, subscribing to their portion 227.5x.
The anchor book saw participation from large domestic mutual funds including SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund, among others.
The IPO will open on September 24 and close on September 28, while the anchor investor round is scheduled for September 23.
Earlier this year, other lending companies such as Kissht and Aye Finance also cut their IPO size, as valuation concerns grew.
The public offer comprises of fresh issue of shares of Rs 1,500 crore and an offer for sale (OFS) of 136 million shares.
Private market valuations, unsecured loan books and tighter regulation are forcing India's fintech lending companies to rethink their IPO plans…
Moneyview is likely to raise more debt in multiple tranches of up to Rs 750 crore.
Its net profit increased 40% to Rs 240.3 crore in FY25 from Rs 171.1 crore in FY24.
An international gang, which was operating from Dubai, China, Hong Kong, and the Philippines, was behind the hacking.
The digital lender is eyeing an IPO to raise over $400 million and has reportedly appointed Axis Capital, Kotak Mahindra, and others as its banking partners.