Accel-backed fintech company Moneyview has fixed the price band for its initial public offering (IPO) at ₹32-₹34 per equity share, with the issue set to open for public subscription on September 24. The IPO aims to raise up to ₹1,092 crore, including a fresh issue of shares worth ₹750 crore and an offer for sale (OFS) of up to 10.05 crore equity shares. The company targets a valuation of around ₹5,985 crore at the upper price band.
Moneyview filed its draft red herring prospectus (DRHP) in March and received approval from the Securities and Exchange Board of India (SEBI) in July. The fresh issue size has been reduced from the initially proposed ₹1,500 crore to ₹750 crore, and the OFS has been cut from 13.6 crore shares to 10.05 crore shares. Cofounders Puneet Agarwal and Sanjay Aggarwal plan to sell up to 1.35 crore shares worth ₹46.06 crore each. Other investors participating in the OFS include Tiger Global’s Internet Fund III, Accel India IV, Accel Growth IV, Crimson Winter, Ribbit Capital, and others. Anchor investors can place bids on September 23, with the public issue open until September 28.
The IPO valuation marks a significant markdown from Moneyview’s last private valuation when it entered the unicorn club in 2024 after raising $4.6 million at a valuation exceeding $1 billion. The company’s shares are expected to begin trading on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 1. The reduction in the fresh issue size and OFS reflects adjustments to market conditions and investor appetite.
Moneyview’s IPO subscription will close on September 28, with the company targeting a listing date of October 1 on the BSE and NSE. The anchor investor bidding will take place on September 23, setting the stage for the public subscription phase.