CONNECT WITH US
Tech

Tech

Moneyview IPO Subscribed 3.55X On Day 2, NIIs Lead With 7.77X Subscription

Inc42 - All News logo

Published on

Add as a preferred source on Google
Moneyview IPO Subscribed 3.55X On Day 2, NIIs Lead With 7.77X Subscription

Digital lender Moneyview’s ₹1,092 Cr IPO was subscribed 3.55X by 13:15 IST on the second day of bidding. The public issue received bids for 82.65 Cr shares against 23.25 Cr shares on offer, according to BSE data.

Non-institutional investors (NIIs) led the demand, placing bids for 39.01 Cr shares against the 5.02 Cr shares reserved for them, translating into a subscription of 7.77X.  

Within the category, the portion reserved for investors bidding between ₹2 Lakh and ₹10 Lakh was subscribed 10.08X. Meanwhile, the portion for bids exceeding ₹10 Lakh was subscribed 6.61X.

Retail investors subscribed to their quota 3.67X, placing bids for 43.02 Cr shares against the 11.72 Cr shares reserved for them.

The qualified institutional buyers (QIBs) portion received bids for 61.45 Lakh shares against the 6.51 Cr shares reserved for the category, translating into a subscription of 0.09X. 

The issue ended the first day of bidding with a subscription of 1.44X. 

Moneyview has fixed the IPO price band at ₹32-₹34 per share. At the upper end of the price band, the IPO values the company at around ₹5,985 Cr ($624 Mn).

The public issue comprises a fresh issue of shares worth up to ₹750 Cr and an OFS of up to 10.05 Cr shares, amounting to around ₹341.7 Cr at the upper end of the price band.

The IPO will close on September 28 (Monday), while the company’s shares are scheduled to list on the stock exchanges on October 1 (Thursday).


Source link
Related Topics:Tech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.