Moneyview IPO: Issue subscribed 14.24 times on final day; GMP indicates 38% listing gain

The ₹1,091.68 crore Moneyview IPO was subscribed 14.24 times on the third day of bidding, driven by strong demand from non-institutional investors (NIIs). The IPO received bids for 331 crore equity shares against 23.25 crore shares on offer, according to exchange data updated at 11:48 am on September 28. The issue will close today, while the shares are expected to make their market debut on the BSE and NSE on October 1.

As per the exchange data, NIIs led the subscription activity, with their reserved portion subscribed 42.48 times. The category received bids for 213.38 crore shares against 5.02 crore shares reserved for the segment.

Within the NII category, bids for amounts above ₹10 lakh were subscribed 44.65 times, while the segment for applications above ₹2 lakh and up to ₹10 lakh was subscribed 38.13 times.

The data showed that retail individual investors (RIIs) subscribed 9.88 times, submitting bids for 115.85 crore shares against 11.72 crore shares reserved for the category.

Qualified institutional buyers (QIBs), however, remained relatively subdued. Their portion was subscribed 0.27 times, with bids for 17.86 crore shares against 65.09 crore shares on offer.

Moneyview IPO GMP

The Moneyview IPO grey market premium (GMP) stood at ₹13 at the time of reporting. At the upper price band of ₹34 per share, the latest GMP points to an estimated listing price of ₹47.

This translates into an estimated listing gain of 38.24% if the GMP holds and the shares list around the indicated price. However, GMP is an unofficial market indicator and does not guarantee the actual listing price or returns.

During the subscription period, the Moneyview IPO GMP has fluctuated between ₹5 and ₹15.50, indicating changes in grey-market sentiment ahead of the listing.

IPO details

The Moneyview IPO is a book-built issue comprising a fresh issue of 22.06 crore shares aggregating to ₹750 crore and an offer for sale (OFS) of 10.05 crore shares worth ₹341.68 crore.

The IPO has a price band of ₹32–34 per share, while the lot size is 441 shares. At the upper price band, retail investors need to invest a minimum of ₹14,994 for one lot.

The fresh issue proceeds will be used primarily to support the company’s lending business and strengthen its subsidiary.

Moneyview plans to invest ₹325 crore to drive growth in loan disbursals under default loss guarantee (DLG) arrangements and another ₹250 crore in WFPL, its material subsidiary, to augment its capital base. The remaining proceeds will be used for general corporate purposes.

Incorporated in 2014, Moneyview is a fintech company that operates a digital platform offering financial services, including personal loans, credit tracking and financial management solutions. The company uses technology and data analytics to assess borrowers’ creditworthiness and facilitate loan approvals.

Personal loans are the company’s flagship product, with Moneyview focusing on serving the credit needs of customers in what it describes as “Middle India”.

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