Accel-Backed Moneyview Soars 76% in India Debut, Tops $1Bn Valuation
The stock listed at 55 rupees on the National Stock Exchange of India, compared with its IPO price of 34 rupees per share
Accel-backed digital financial platform Moneyview soared as much as 76% in its Indian market debut on Thursday, as investors were drawn to its relatively attractive valuation and exposure to the country's expanding digital-lending market.
The stock last traded 67% higher at 56.75 rupees, valuing the company at 105 billion rupees ($1.09 billion).
The stock listed at 55 rupees on the National Stock Exchange of India, compared with its IPO price of 34 rupees per share.
The $114 million IPO received bids for 98.5 times the shares on offer, led by institutional investors and high-net-worth individuals.
The Bengaluru-based fintech company provides access to personal loans through a network of financial partners, including its non-banking financial company (NBFC) subsidiary, Whizdm Finance.
The company has expanded to credit cards, home loans, insurance, and payments, managing assets worth 225.2 billion rupees for the quarter ended June 30, 2026.
"At 20-22x P/E, the stock trades at a significant discount to the 82x industry composite, making the valuation relatively attractive," Swastika Investmart said in a note last week.
Moneyview's listing comes in a busy primary market, with companies rushing to tap strong domestic investor demand.
The IPO comprised a fresh issue of shares worth 7.5 billion rupees and an offer for sale of up to 100.49 million shares from existing investors.
The fintech platform plans to use IPO proceeds to drive growth in loan disbursals, invest in a subsidiary and fund general corporate purposes.