MUMBAI: Accel and Tiger Global-backed digital lending platform Moneyview has fixed the price band for its IPO at Rs 32-34 per share, putting the company’s valuation at nearly Rs 6,000 crore at the upper end of the band.
The IPO will open for subscription on September 24 and close on September 28. The anchor book will open a day earlier on September 23. Moneyview is looking to raise Rs 1,091.6 crore through the public issue.
The company, recently reduced its total issue size, will be raising Rs 750 crore via issuance of fresh shares, while promoters and investors will be selling up to 10.04 crore equity shares via offer-for-sale (OFS), as per the RHP filing on September 20.The price band comes shortly after Moneyview halved the size of its fresh issue from the Rs 1,500 crore proposed in its draft papers.As told to our newsman Sachin Murdeshwar, The company and its existing investors also reduced the OFS from around 13.6 crore shares to 10.04 crore shares.The IPO comprises a fresh issue of Rs 750 crore and an offer-for-sale (OFS) of up to 10.04 crore shares. At the upper price band, the company will have an implied market capitalisation of around Rs 5,985 crore.