Moneyview shares deliver bumper listing gains; stock debuts at 64% premium

Shares of Moneyview made a bumper Dalal Street debut on Thursday, October 01 after fintech and financial services were listed at Rs 55.61 on BSE Ltd, a premium of 63.56 per cent over the issue price of Rs 34. Similarly, the stock settled with a premium of 61.76 per cent over the issue price at Rs 55 on NSE Ltd.

As of the listing prices, retail investors of Moneyview made a profit of Rs 9,530 on a single lot alloted of 441 equity shares to them. Similarly, non-individual or HNI investors made a profit of Rs 1,33,420 for 14 lots consisting of 6,174 equity shares allotted to them.

Listing of Moneyview has been on the above the expectations. Ahead of its listing, shares of Moneyview were commanding a grey market premium (GMP) of Rs 14-14.5 apeice, suggesting nearly 41-43 per cent listing pop for the investors. However, its GMP trend has remained range bound since the closure of the issue, hovering in Rs 12-15 apeice range.

IPO of Moneyview was open for bidding between September 24-28 as the company raised a total of Rs 1,092 crore from its primary offering, which was fresh share sale of Rs 750 crore and an offer-for-sale (OFS) of up to 10.05 crore equity shares worth 342 crore. The company sold its shares in the range of Rs 32-34 apeice, with a lot size of 441 equity shares.

According to the data from BSE, the IPO of Moneyview was subscribed 98.46 times during the bidding process, fetching bids for 77,850 crore through 48.55 lakh applications. On an individual basis, qualified institutional bidders' (QIB) portion was booked 227.45 times, while non-institutional investors' quota was subscribed 115.41 times. Retail portion was booked 19.57 times.

Incorporated in 2014, Bengaluru-based Moneyview is a fintech company incorporated in India that provides digital financial services through its mobile platform. The company focuses on offering accessible and technology-driven financial solutions to individuals. It operates a digital platform that provides personal loans, credit tracking, and financial management services.

Brokerage firms mostly had a positive view on this issue suggesting to subscribe to it. Axis Capital, BofA Securities, IIFL Capital Services and Kotak Mahindra Capital were the book running lead managers of the Moneyview IPO and MUFG Intime India served as the registrar of the issue.