Moneyview Raises ₹327.5 Cr From Anchor Investors Ahead of IPO

Fintech company Moneyview has raised ₹327.5 crore from anchor investors ahead of its Initial Public Offering (IPO). The company allocated 9.63 crore shares at ₹34 per equity share, the upper end of the IPO price band.

Seven domestic mutual funds, through fourteen schemes, accounted for 72% of the anchor round, investing ₹236.5 crore. SBI Mutual Fund's SBI Banking and Financial Services Fund and HDFC Mutual Fund were among the largest investors, acquiring 1.47 crore shares each.

Moneyview's ₹1,092 crore IPO is set to open for public subscription on September 24. The company is seeking a valuation of approximately ₹5,985 crore, about half of its valuation from a September 2024 funding round.

The IPO comprises a fresh issue of up to ₹750 crore and an offer for sale (OFS) of up to 10.05 crore equity shares. The company plans to use ₹325 crore of the fresh proceeds for loan disbursals, ₹250 crore to augment its NBFC subsidiary Whizdm Finance's capital, and the remainder for general corporate purposes. In its first quarter results, operating revenue grew by 50.2%.