Moneyview IPO Closes 101.86 Times Subscribed as QIB Book Is Bid Over 230 Times

Moneyview's initial public offering closed on Monday with an overall subscription of 101.86 times, after a late wave of institutional bids in the final hours of the offer lifted demand more than five-fold from the midday level. The issue stood at 18.14 times shortly after noon (see our earlier final-day coverage).

In all, the issue drew bids for about 2,289 crore shares against roughly 22.48 crore shares on offer. At the upper end of the price band, those bids were worth around ₹77,843 crore, more than 70 times the size of the ₹1,091.68-crore offer.

Institutions Swung The Final Number

The biggest shift of the afternoon came from qualified institutional buyers. Their portion had only just crossed full subscription at 1.43 times by midday. By the close it had been bid 230.54 times, with institutions putting in bids for more than 1,480 crore shares against about 6.42 crore reserved for them.

This pattern, where large funds hold back until the closing hours, is common in Indian IPOs. Institutions typically wait to gauge demand from other categories and to finalise allocation decisions before committing. But the scale of the jump in Moneyview's case was unusual, especially on a day when the broader market fell sharply.

How The Other Categories Finished

Non-institutional investors, who had led the book in the morning, finished at 120.37 times, more than double their midday figure of about 55 times. Within that group, the portion for applications above ₹10 lakh was subscribed 137.19 times, while the smaller-ticket portion for bids up to ₹10 lakh was subscribed 86.72 times.

Retail individual investors subscribed their quota 20.41 times, up from about 11.4 times at midday. The retail portion drew bids for about 229 crore shares against roughly 11.24 crore on offer.

Demand Defied A Falling Market

The final tally stands out against Monday's backdrop. The Sensex and Nifty fell for a seventh straight session and closed near six-month lows, with every sectoral index in the red. That institutions were willing to commit this much capital to a new listing on such a day suggests large investors are separating stock-specific stories from broader market caution rather than exiting equities altogether.

What Investors Should Watch Now

The basis of allotment is expected to be finalised on Tuesday, September 29. Refunds to unsuccessful applicants and credit of shares to successful bidders' demat accounts are scheduled for Wednesday, September 30, and the stock is set to debut on the BSE and NSE on Thursday, October 1.

With the retail book oversubscribed more than 20 times, most small investors should expect to miss out on an allotment, since shares in the retail category are distributed by lottery at the minimum lot size once demand exceeds supply. Applicants can check their allotment status on the registrar's website or the exchange websites once the basis is finalised.

For those who do receive shares, listing-day performance will likely depend on whether the broader market steadies over the next two sessions, given the continuing pressure from high crude oil prices and foreign selling.

This is an original summary based on public reporting. See our editorial policy for how we source, write, and correct our stories.