Shares of Moneyview extended gains after making a strong market debut on Thursday, rising as much as 82% from the IPO price. While the listing pop grabbed headlines, analysts advised long-term investors to remain patient.
Moneyview shares listed at Rs 55.61 apiece on the BSE, marking a nearly 64% premium over the IPO price of Rs 34. Following the strong debut, the stock rallied another 11.5% to hit a day’s high of Rs 62, taking its gains to as much as 82% from the IPO price in less than an hour of trading.
Also read | Moneyview shares shine on debut, list at 64% premium over IPO price
The sharp gains following the strong market debut added around Rs 1,133 crore to the company’s market capitalisation within minutes since listing, taking it up to near Rs 10,993 crore on Thursday.
Moneyview listing performance beats grey market estimates
The bumper market debut sharply beat grey market estimates. Ahead of listing, the unlisted shares of Moneyview were trading with a grey market premium (GMP) of around 38% over the IPO price, according to sites tracking the unofficial market.
This comes after Moneyview’s Rs 1,092 crore initial public offering (IPO) saw strong investor interest during its three days of public bidding, being subscribed around 102 times overall between September 24 and September 28.
The initial public offering of Moneyview comprised a fresh issue of shares worth Rs 750 crore and an offer for sale (OFS) of 10.05 crore equity shares, valued at Rs 342 crore at the higher end of the issue price, by existing shareholders. Promoters Puneet Agarwal and Sanjay Aggarwal were set to sell up to 1.35 crore shares each, while Accel, Tiger Global and Ribbit Capital were also selling stakes.
Moneyview, formerly known as Whizdm Innovations, provides users a suite of financial products through a network of banks, non-bank lenders, insurers, and other financial institutions.
Also read | Moneyview pays Rs 160 crore incentive to CEO ahead of IPO; FY26 profit takes 30% hit
Should you buy, sell or hold Moneyview shares?
Moneyview, incorporated in 2014, is a consumer-focused, digital only, credit-led financial services platform for Middle India customers, providing access to a full suite of financial products through a network of Financial Partners, including NBFC subsidiary, through Moneyview mobile application, highlighted Ravi Singh, Chief Research Officer at Master Capital Services.
Its platform is a two-sided network that connects users seeking financial products with banks, NBFCs, insurers and other financial institutions that offer such products. The key factor to track will be whether the company can sustain its growth in revenue, loan disbursals and managed assets while maintaining profitability and asset quality, Ravi Singh said. “Long-term investors may continue to track the company’s underlying digital lending and financial services business, supported by increasing adoption of digital credit and its expanding financial product offerings,” he said.
Rather than focusing only on today’s listing performance, investors may monitor quarterly revenue growth, loan disbursals, managed AUM, margins, asset quality and operating cash flow, according to the analyst.
Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
