Moneyview IPO Fully Subscribed on Day 1

Moneyview Ltd's Rs 1092 crore Initial Public Offering (IPO) experienced a successful first day, achieving full subscription. The bidding process saw significant interest, with non-institutional and retail investors driving the demand. Qualified institutional buyers also participated, although at a lower percentage. The company had previously raised Rs 327.5 crore from anchor investors on Wednesday. The IPO is open for subscription until September 28, with a price band set at Rs 32 to Rs 34 per equity share. At the upper end of this range, Moneyview anticipates a post-issue market capitalization of Rs 6,000 crore. The offering includes a fresh issue of Rs 750 crore and an Offer for Sale (OFS) by existing shareholders valued at Rs 342 crore. Funds raised from the fresh issue are earmarked for supporting lending operations and bolstering the capital base of its NBFC subsidiary. Moneyview, established in 2014, functions as a digital-only, credit-led fintech platform. Its offerings span borrowing, transactions, investments, and protection, with personal loans being a significant business segment. The company leverages an AI-driven model for a seamless digital customer experience and has diversified into services like earned wage access and home loans.