Moneyview IPO yields substantial returns for early investors
Moneyview's initial public offering (IPO) has generated significant gains for early investors. Ribbit Capital achieved an 11.85x return on its investment, while Tiger Global realized 3.42x on shares sold during the offer for sale (OFS).
Bengaluru – Moneyview's recent initial public offering (IPO) has delivered substantial returns for its early investors, with venture capital firm Ribbit Capital reporting an 11.85x multiple on its investment. Tiger Global also achieved a 3.42x return on shares sold as part of the offer for sale (OFS).
Ribbit Capital sold 1.14 crore shares for ₹38.61 crore at the upper end of its IPO price band of ₹32-₹34. This marked the highest return multiple among institutional investors participating in the OFS. Tiger Global's Internet Fund III sold 1.54 crore shares for ₹52.21 crore.
Other investors also saw considerable gains. Accel India IV generated a 6.39x return, and Accel Growth IV Holdings achieved a 4.44x return on their respective sales. TI JPNIN India Holdco reported a 5.94x return. In contrast, Crimson Winter sold shares below its acquisition cost, incurring approximately a 9% loss on the shares offloaded.
Moneyview co-founders Puneet Agarwal and Sanjay Aggarwal also divested shares worth a combined ₹92.12 crore. Both founders retain significant stakes in the company following the IPO. The company's ₹1,092 crore IPO closed on September 28, attracting bids for 98.46 times the shares offered.
The company raised ₹750 crore in fresh capital through the IPO, which it intends to deploy towards default loss guarantee arrangements for loans originated by its partners, strengthening its NBFC subsidiary Whizdm Finance, and for general corporate purposes. Moneyview offers unsecured personal loans using proprietary credit scoring models and alternative data.