Digital lender Moneyview made its stock market debut with shares listing at ₹55.6 on the BSE, a 64% premium over its ₹34 issue price, on October 1. On the NSE, shares listed at ₹55, marking nearly a 62% premium. At listing, Moneyview's market capitalisation stood at ₹9,788.6 crore (about $1.01 billion) on the BSE, following its ₹1,092 crore initial public offering (IPO) that was fully subscribed within hours, according to inc42.com.
Moneyview's IPO price band was fixed between ₹32 and ₹34 per share, valuing the company at ₹5,985 crore ($624 million). The ₹1,092 crore IPO included a fresh issue of shares worth up to ₹750 crore and an offer for sale (OFS) of up to 10.05 crore shares. The IPO saw strong investor demand with an oversubscription of 98.46 times overall and qualified institutional buyers (QIBs) oversubscribing their quota by 227.45 times. Anchor investors included SBI Mutual Funds and Goldman Sachs, who were allotted 9.63 crore equity shares for ₹327.5 crore, inc42.com reported.
Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview offers unsecured personal loans targeting underserved and new-to-credit borrowers through its app and website. It partners with banks and NBFCs and also issues loans via its NBFC arm, Whizdm Finance. The fresh capital raised will help strengthen Whizdm, with one-third of the funds earmarked for investment in the NBFC. Additionally, ₹325 crore from the fresh issue proceeds will support loan disbursals under default loss guarantee arrangements, per inc42.com.
The IPO's strong subscription and premium listing underscore investor confidence in Moneyview's growth prospects. The company’s market capitalisation at listing reached ₹9,788.6 crore on the BSE, marking a significant milestone for the digital lending platform, inc42.com confirmed.