Moneyview IPO subscribed 37% so far on opening day; GMP at 42%

New business data points to the fact that Bengaluru-based Moneyview opened its initial public offering (IPO) today, with the offering receiving 37 percent subscription, as of 11:25 am on September 24, as per NSE data.

The Rs 1,092-crore IPO received bids for 8,62,08,003 shares against 23,25,24,175 shares on offer. Retail market participants subscribed to 55 percent of their allotted portion, while the non-institutional investor (NII) category was subscribed 43 percent.

In the grey market, Moneyview shares were commanding a premium of around 42 percent on the morning of September 24, according to InvestorGain. The latest GMP of Rs 14 against the upper IPO price range of Rs 34 indicates an estimated stock-exchange debut price of around Rs 48.

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Market participants must note that the grey market premium is only an indicative signal and does not guarantee the actual stock-exchange debut price or post-stock-exchange debut performance.

The Moneyview IPO opened for public subscription on September 24 and will stay open until September 28. The firm has set the price range at Rs 32-34 per share. The offering comprises a fresh offering of shares worth Rs 750 crore and an offer-for-sale (OFS) component of 10.04 crore shares worth around Rs 341.68 crore.

The firm had already boosted Rs 327.5 crore from anchor market participants ahead of the IPO. Moneyview allotted 9.63 crore shares to anchor market participants at Rs 34 apiece. Domestic mutual funds, including SBI Mutual Fund, ICICI Prudential AMC, HDFC AMC, Motilal Oswal AMC, Aditya Birla Sun Life AMC and Quant Mutual Fund, participated in the anchor book, along with institutional market participants such as Goldman Sachs, Amundi Funds, 360 ONE and HDFC Life.

The IPO is anticipated to list on both BSE and NSE on October 1, subject to the tentative schedule.

Moneyview plans to deploy Rs 325 crore from the net proceeds of the fresh offering towards expansion in loan disbursals under default loss guarantee (DLG) arrangements.

Another Rs 250 crore will be used to strengthen the capital base of its subsidiary, Whizdm Finance, while the remaining proceeds will be used for general corporate purposes.

The firm, promoted by Puneet Agarwal and Sanjay Aggarwal, operates a digital financial services platform that connects consumers with banks, non-banking financial firms, insurers and other financial institutions for products including personal loans, insurance, credit cards and digital gold.

As of June 2026, Moneyview had 14.03 crore registered users and 48 financial partners on its platform.

Moneyview noted a sharp improvement in its financial performance in the June 2026 quarter. Its consolidated net earnings rose to Rs 173.8 crore, compared with Rs 67.2 crore in the corresponding quarter of the previous fiscal year.

Topline from operations increased 50.2 percent year-on-year to Rs 1,041.1 crore from Rs 693 crore.

For the financial year ended March 2026, the firm's earnings increased 1.2 percent year-on-year to Rs 244.1 crore, while topline rose 43.3 percent to Rs 3,351.2 crore.

The Moneyview IPO is being managed by Axis Capital, BofA Securities India, IIFL Capital Services and Kotak Mahindra Capital Firm as the book-running lead managers.