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Moneyview's Bumper Listing: Stock Debuts at 62% Premium, Gains Continue.
- •Fintech company Moneyview had a bumper listing on the stock market, debuting at ₹55, a 62% premium over its issue price of ₹34.
- •Post-listing, the stock remained strong, reaching the ₹60 level, marking an approximate 80% gain from its issue price.
- •The Moneyview IPO received an overwhelming response from investors, with a total subscription of 98.46 times.
- •The IPO was a book-built issue of ₹1,091.68 crore, comprising ₹750 crore from new shares and ₹341.68 crore from an Offer for Sale (OFS).
- •The company plans to utilize the IPO proceeds for increasing loan disbursement, investing in its subsidiary WFPL, and general corporate purposes.
Key Questions Answered
Moneyview stock listed on the NSE at Rs 55 against an issue price of Rs 34, marking a bumper 62% premium. Following its debut, the stock continued its strong momentum, climbing to the Rs 60 level which translates to an overall gain of about 80% from its issue price.
The Moneyview IPO received an overwhelming total subscription of 98.46 times. According to NSE data, Qualified Institutional Buyers subscribed 227.45 times, Non-Institutional Investors subscribed 115.41 times, and Retail Investors subscribed 19.57 times.
Moneyview plans to allocate its IPO proceeds toward several key areas: investing Rs 325 crore to increase loan disbursements under the Default Loss Guarantee arrangement, investing Rs 250 crore to strengthen its significant subsidiary WFPL, and using the remaining Rs 111.72 crore for general corporate purposes.
