Strong profit growth prompted Moneyview to reduce IPO size: MD & CEO Agrawal
Indian markets moved lower in an ipo & listings development.
· Economic Times Markets
Moneyview reduced its public offer to Rs 1,092 crore from Rs 1,500 crore. This decision stems from robust profit growth and adequate internal cash generation. The company fixed its price band at Rs 32-34 per equity share for the IPO. The IPO comprises a fresh issue and an offer for sale by existing shareholders. Proceeds will fuel lending business growth and new product development.
The analysis
Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
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