Moneyview’s ₹1,092 crore initial public offering closed with bids for 2,289.52 crore shares against 23.25 crore on offer, an overall subscription of 98.5 times that makes it the third ₹1,000 crore-plus issue this year to clear 95 times. The book built across every category: qualified institutional buyers came in at 230 times, non-institutional investors at 120 times, and retail at 20 times. The issue was fully covered on the first day of bidding.
The pecking order
Only two larger issues have drawn more paper in 2026. Trendlyne data puts Bharat Coking Coal at 147 times and Shiprocket at 99.4 times. Moneyview slots in behind them, a notable showing for a digital lending platform that only launched its flagship personal loan product in 2017. The grey market premium sits at ₹14 per share against the ₹34 upper band, implying a listing around ₹48, a 41 percent premium if it holds. The source notes GMP is an unofficial indicator and not a basis for investment decisions.
Where the money goes
The offer splits ₹750 crore of fresh issuance and a ₹342 crore offer-for-sale of 10.05 crore shares by existing holders. Of the fresh proceeds, ₹325 crore is earmarked for lending operations and ₹250 crore for the NBFC subsidiary’s capital base. The remainder covers general corporate purposes. The price band was fixed at ₹32-34 with a face value of ₹1. Shares are slated for both the NSE and BSE; allotment is expected to finalize on Tuesday.
The sellers and the structure
Axis Capital, BofA Securities India, IIFL Capital Services and Kotak Mahindra Capital Company run the book. Founders Puneet Agarwal and Sanjay Aggarwal, both IIT Delhi graduates, retain a stake through the OFS alongside other existing shareholders. The company describes itself as a digital-only, credit-led fintech spanning borrowing, transactions, investments and protection, earned wage access, home loans, loans against property, digital gold and UPI sit alongside the core personal loan book. The stated rationale for the fresh capital is balance-sheet reinforcement; whether the demand reflects durable franchise value or a moment of liquidity chasing yield is what the listing will start to price.