Digital lender Moneyview’s Rs.1,092-Cr IPO oversubscribed 31x

The INR 1,092-Cr initial public offering (IPO) of Bengaluru-based digital lender Moneyview has been oversubscribed 31.41 times. The issue received bids for 730.28 crore shares against 23.25 crore shares on offer.Non-institutional investors (NIIs) led the subscription with a 69.33x oversubscription of their quota. Qualified institutional buyers (QIBs) oversubscribed their portion by 27.55x, while retail investors oversubscribed their quota by 13.74x.The OFS includes shares sold by cofounders Puneet Agarwal and Sanjay Aggarwal, alongside investors such as Accel, Tiger Global Management, Ribbit Capital, and DI Investment.Founded in 2014, Moneyview fixed the IPO price band at INR 32 - INR 34 per share, valuing the company at INR 5,985 crore (USD 624 million). The fresh issue of shares accounts for INR 750 crore, while the offer for sale (OFS) comprises 10.05 crore shares, amounting to approximately INR 341.7 crore at the upper price band.The company intends to use INR 325 crore of the fresh issue proceeds for loan disbursals under default loss guarantee arrangements and INR 250 crore for capital infusion into its NBFC subsidiary, Whizdm Finance.Prior to the IPO, Moneyview raised INR 327.5 crore from anchor investors, including SBI Mutual Fund and Goldman Sachs.