Moneyview Lists at 64% Premium on BSE, Beating Grey Market Expectations

Moneyview's shares opened sharply higher on their first day of trading on Thursday, rewarding investors who secured an allotment in one of the year's most heavily bid public issues. The stock debuted at Rs 55.61 on the BSE, a gain of Rs 21.61 or 63.56% over the issue price of Rs 34. On the NSE it opened at Rs 55, up Rs 21 or 61.76%.

The listing came in well ahead of informal expectations. Grey market activity in the days before the debut had pointed to an opening price of roughly Rs 48.60, implying a premium of about 43%. The actual open cleared that by more than Rs 6 a share on both exchanges. The IPO closed 101.86 times subscribed on September 28 (see our coverage of the final day).

What it means for allottees

Retail investors could apply for a minimum of one lot of 441 shares, an outlay of Rs 14,994 at the issue price. At the NSE opening price, that lot was worth about Rs 24,255, a paper gain of roughly Rs 9,261 per lot before taxes and charges. On the BSE opening price the gain was slightly higher, at about Rs 9,530.

Given the scale of demand, however, most retail applicants did not get shares. The retail portion alone was subscribed 20.41 times, meaning only a fraction of applications could be filled, typically through a lottery for the minimum lot.

Valuation jumps by Rs 3,800 crore

At the listing price, Moneyview's market capitalisation rose to about Rs 9,789 crore, compared with roughly Rs 5,985 crore implied at the IPO price. That re-rating of nearly Rs 3,800 crore on day one reflects how strongly institutions backed the company during the offer, when qualified institutional buyers bid more than 230 times their quota.

The Bengaluru-based firm, incorporated in 2014, runs a digital platform offering personal loans, credit tracking and other financial products. It acts as a two-sided marketplace, connecting borrowers with banks, NBFCs and insurers. As of June 30, 2026, it reported 140.28 million registered users and 48 financial partners on its platform.

The numbers behind the premium

Investors were buying into a business that has grown quickly but is also leaning more on debt. Total income rose to Rs 3,404.27 crore in FY26 from Rs 2,378.53 crore a year earlier, and EBITDA climbed to Rs 968.92 crore from Rs 697.98 crore. Profit after tax, however, barely moved, edging up to Rs 242.71 crore from Rs 240.28 crore. Total borrowings rose to Rs 5,157.04 crore from Rs 3,413.37 crore over the same period.

Of the Rs 750 crore raised through fresh shares, Rs 325 crore is earmarked for growing loan disbursals under default loss guarantee arrangements and Rs 250 crore will go into its material subsidiary to strengthen its capital base. The rest of the Rs 1,091.68 crore issue was an offer for sale by existing shareholders.

The debut also lands on a difficult day for the wider market, with the Sensex and Nifty trading lower on heavy foreign selling. How the stock holds its opening gains over the next few sessions, once the listing-day excitement fades and short-term allottees book profits, will be the real test of the valuation.

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