Moneyview files prospectus, IPO opens September 24 to raise ₹750cr
Moneyview, the fintech app backed by Accel, Tiger Global, and Ribbit Capital, is heading to the stock market with its IPO opening on September 24.
The company wants to raise ₹750 crore in fresh funds and will also offer up to 10.04 crore equity shares from existing promoters and investors.
All the official details landed with its prospectus filed just this week.
Moneyview trading October 1 retail 35%
One-half of the shares are set aside for big institutional buyers, while retail investors get a solid 35% slice (the rest goes to noninstitutional investors). Trading kicks off October 1.
Moneyview has grown fast, serving over 14 crore users as of June, and recently saw profits jump by nearly 159% and revenues rise by more than one-half.
Moneyview, with main backers Accel (21.89%), Tiger Global (13.79%), and Ribbit Capital (10.2%), plans to use ₹325 crore for growth in loan disbursals under DLG arrangements, ₹250 crore for investment in Whizdm Finance (WFPL) to augment its capital base, and the remainder for general corporate purposes.