By Admin 
Moneyview IPO: Bengaluru based fintech unicorn Moneyview Limited is preparing to launch an IPO. For this, the company has also submitted Draft Red Herring Prospectus (DRHP) with SEBI on March 3.
According to DRHP, this initial public offering (IPO) being brought by the company includes fresh issue (new shares) worth Rs 1500 crore as well as offer for sale (OFS) of 13.6 crore equity shares from the selling shareholders.
These will be included in OFS
Promoters Punit Agarwal and Sanjay Agarwal as well as Chitra Agarwal will sell their stake in the IPO under the offer-for-sale (OFS) window.
Apart from these, Internet Fund III Pte. Ltd., Accel India IV (Mauritius) Ltd., Accel Growth IV Holdings (Mauritius) Ltd., Crimson Winter Ltd., Lok Capital IV LLC, Lok Capital Co-Investment Trust, Ribbit Capital, Evolvence India Fund IV Ltd., Apis Growth II (Mimosa) Pte. Ltd, NLI Strategic Venture Investment Ltd, TI JPNIN India Holdco Ltd, TI Platform SMRS SMA, LP, and DI Investment LLC will all participate in the OFS.
Use of IPO money
Of the amount raised through IPO, the company will use Rs 650 crore for increasing loan disbursal and Rs 450 crore for capital growth of its subsidiary company Whizdm Finance. The remaining amount will be used for general corporate purposes. The book running lead managers of the issue are Axis Capital Limited, BofA Securities India Limited, IIFL Capital Services Limited and Kotak Mahindra Capital Company Limited.
What does the company do?
This company, started in 2014, is associated with the sector of digital lending and personal finance management. Moneyview provides personal loans ranging from Rs 10,000 to Rs 10 lakh through its app. The company also gives loans to those who have low credit scores or who do not have or have limited access to banks.
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