Moneyview IPO continues to see robust subscription on Day 2, booked nearly 3 times so far – Check GMP

New business data points to the fact that The initial public offering (IPO) of digital lending platform Moneyview continued to see robust demand on the second day of subscription on Friday, after the Rs 1,092-crore offering was fully subscribed on the first day.

The IPO received bids for 64.79 crore shares against 23.25 crore shares on offer, translating into 2.8 times subscription, as per NSE data till 12 noon.

The portion reserved for non-institutional market participants was subscribed 5.71 times, while the retail investor quota received 3.05 times subscription. The qualified institutional buyers' (QIBs) portion was subscribed 6 percent.

Earlier, the firm had boosted Rs 327.5 crore from anchor market participants.

The IPO, which has a price range of Rs 32-34 per equity share, will close on September 28.

Moneyview IPO GMP Today Price

According to platforms tracking grey market activities, the shares of Moneyview are commanding a GMP of up to 46 percent in the unofficial market. Investorgain quoted a GMP of Rs 15.5 for the shares of the firm, indicating a stock-exchange debut gain of 45.59 percent. IPO Watch, in the meantime, quoted a GMP 41.18 percent.

Of the Rs 750 crore fresh offering proceeds, Rs 325 crore will be used to backing the firm's lending operations, while Rs 250 crore will be invested in augmenting the capital base of its NBFC subsidiary. The remaining funds will be utilised for general corporate purposes.

Founded in 2014 by IIT Delhi graduates Puneet Agarwal and Sanjay Aggarwal, Moneyview operates as a digital-only, credit-led fintech platform offering financial products across borrowing, transactions, investments and protection.

Its flagship digital personal loan business, rolled out in 2017, stays a key contributor to its operations.

The firm stated its technology and artificial intelligence-led model enables a largely unassisted digital customer journey and allows it to offer personalised financial products at scale.

Beyond personal loans, Moneyview has expanded into products and services including earned wage access, home loans, loans against property, digital gold and UPI transactions.