Money View to raise ₹1092 crore through IPO

Digital lending service provider Money View Ltd, is set to raise ₹1,092 crore through initial public offer.

The offer consists a fresh issue of ₹750 crore and current owners diluting ₹342 crore of their stake. The company fixed a price bank of ₹32 to ₹34 a piece and the shares can be bought in lots of 441 shares and the multiples thereof.

The company plans to use the proceeds from the IPO to fund loan disbursals under default loss guarantee (DLG) arrangements and to invest in its subsidiary “for the purpose of augmenting its capital base,” among other general corporate purposes.