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Moneyview raises Rs 327 Cr from anchor investors ahead of IPO

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Moneyview raises Rs 327 Cr from anchor investors ahead of IPO

Digital lending platform Moneyview has raised Rs 327.5 crore from anchor investors ahead of its Rs 1,092 crore initial public offering (IPO), which opens for public subscription today (September 24).

The Bengaluru-based fintech allotted 9.63 crore shares at Rs 34 apiece, the upper end of its IPO price band, to anchor investors on September 23. The company raised the amount from 12 anchor investors, including several large mutual funds and institutional investors.

Domestic mutual funds accounted for the bulk of the anchor allocation. SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, Aditya Birla Sun Life Mutual Fund and Quant Mutual Fund were among the investors participating in the anchor book. Goldman Sachs, Amundi Funds, 360 ONE, HDFC Life and India Acorn Fund also invested in the IPO.

Moneyview's IPO comes with a price band of Rs 32-34 per share and will remain open until September 28. The issue comprises a fresh issue of Rs 750 crore and an offer-for-sale (OFS) of around 10.04 crore shares worth Rs 341.6 crore at the upper end of the price band.

The company plans to use Rs 325 crore from the fresh issue to support loan disbursals under default loss guarantee (DLG) arrangements. Another Rs 250 crore will be invested in its NBFC subsidiary Whizdm Finance to strengthen its capital base. The remaining funds will be used for general corporate purposes.

At the upper end of the price band, Moneyview is looking at a post-issue valuation of around Rs 6,000 crore.


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