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Moneyview IPO Draws 98.5x Subscription, GMP Signals 41% Premium
Moneyview, a company that offers digital financial services, launched an IPO to raise money.
Investors placed many more bids than the number of shares available.
The IPO was subscribed 98.5 times overall.
Large institutional investors showed especially strong demand.
The company will receive ₹750 crore from new shares, while existing shareholders will sell shares worth ₹342 crore.
Some of the new money will support lending and strengthen the company’s NBFC subsidiary.
Moneyview shares are expected to be listed on the NSE and BSE.
The allotment is expected to be finalized on Tuesday.
The grey market suggests the shares could list at about ₹48, but this estimate is unofficial and may not be reliable.
Moneyview’s ₹1,092 crore IPO received bids for 2,289.52 crore shares, resulting in 98.5x overall subscription.
Qualified institutional buyers subscribed 230 times, non-institutional investors 120 times, and retail investors 20 times.
The issue comprises a ₹750 crore fresh share sale and a ₹342 crore offer-for-sale by existing shareholders.
Moneyview plans to use ₹325 crore of fresh proceeds for lending operations and ₹250 crore to strengthen its NBFC subsidiary’s capital base.
The ₹14 GMP implies an estimated listing price of ₹48 per share, or about a 41% premium to the ₹34 upper issue price.✅
- Who
- Moneyview and investors across institutional, non-institutional, and retail categories.
- What
- Moneyview’s ₹1,092 crore initial public offering was subscribed 98.5 times, while its grey-market premium indicated a possible 41% listing gain.
- Where
- The shares are proposed to be listed on the National Stock Exchange and BSE Limited.
- When
- The IPO was open for three days, with bidding beginning Thursday; allotment is expected to be finalized on Tuesday.
- Why
- Moneyview is raising funds for lending operations, strengthening its NBFC subsidiary’s capital base, and general corporate purposes.
Key facts
- Issue size
- ₹1,092 crore
- Overall subscription
- 98.5 times
- Price band
- ₹32–₹34 per equity share
- Fresh issue
- ₹750 crore
- Offer-for-sale
- 10.05 crore shares worth ₹342 crore at the upper price band
- Grey-market premium
- ₹14 per share
- Estimated listing price
- Around ₹48 per share, implying a nearly 41% premium
Sources
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