Moneyview IPO vs A-One Steels India IPO listing: Two mainboard IPOs—Moneyview and A-One Steels India—are set to list on the stock exchanges today, October 1. The shares of both IPOs will be listed on both BSE and NSE.
Both mainboard IPOs—Moneyview and A-One Steels India—were open for subscription from September 24 to September 28, with the share allotment for both issues finalised on September 29.
Moneyview IPO vs A-One Steels India IPO: GMP ahead of listing
Moneyview IPO shares continued to command a strong premium in the grey market ahead of their stock market debut. According to Investorgain, the IPO’s grey market premium (GMP) stood at ₹14.60.
Meanwhile, A-One Steels India IPO also maintained a firm grey market trend, with its shares trading at a premium of ₹47 in the unofficial market.
Moneyview IPO vs A-One Steels India IPO: Listing share price prediction
The GMP of Moneyview IPO suggests a strong debut, with estimated listing price of ₹48.6, which is over 43% higher than the IPO price.
Shares of A-One Steels India IPO are likely to make its market debut at ₹452, which is 11.60% higher than the IPO price.
Moneyview IPO vs A-One Steels India IPO: Subscription status
The Moneyview IPO was subscribed 98.46 times overall against the 23.25 crore shares on offer. The Retail Individual Investors (RII) portion was subscribed 19.57 times against 11.72 crore shares, while the Non-Institutional Investors (NII) category saw subscription of 115.41 times for the 5.02 crore shares reserved for the segment. Meanwhile, the Qualified Institutional Buyers (QIB) portion was subscribed a staggering 227.45 times against the 6.50 crore shares offered.
A-One Steels IPO also witnessed strong investor interest, with the issue subscribed 11.61 times overall against the 73.84 lakh shares on offer, according to NSE data. The retail investor category was subscribed 8.64 times against 36.63 lakh shares reserved for the segment, while the NIIs portion saw subscription of 24.51 times against 15.70 lakh shares available. Meanwhile, the QIBs category was subscribed 7.30 times against the 20.93 lakh shares reserved for institutional investors.
Moneyview IPO details
The ₹1,091.68 crore Moneyview IPO consists of a fresh issue of 22.06 crore shares worth ₹750 crore and an offer for sale (OFS) of 10.05 crore shares amounting to ₹341.68 crore.
The company has set the IPO price band at ₹32– ₹34 per share, with a lot size of 441 shares. At the upper end of the price band, retail investors will have to invest a minimum of ₹14,994 for one lot.
Moneyview Ltd. intends to utilise the net proceeds from the IPO largely to expand its lending operations. Of this, around ₹325 crore will be allocated towards increasing loan disbursals through Default Loss Guarantee (DLG) arrangements.
Axis Capital Ltd., BofA Securities India Ltd., IIFL Capital Services Ltd. and Kotak Mahindra Capital Co. Ltd. are acting as the book-running lead managers for the issue. MUFG Intime India Pvt. Ltd. has been appointed as the registrar to the issue.
A-One Steels India IPO details
The ₹405 crore public issue is a book-built IPO comprising a fresh issue of 87.65 lakh shares worth ₹355 crore and an offer for sale (OFS) of 12.35 lakh shares amounting to ₹50 crore.
The company has set the IPO price band at ₹385– ₹405 per share, with a lot size of 37 shares. At the upper end of the price band, retail investors will have to invest a minimum of ₹14,985 to subscribe to one lot.
A-One Steels India Ltd. intends to use ₹250 crore from the net IPO proceeds towards the pre-payment or partial repayment of select outstanding borrowings. The remaining funds, if any, will be utilised for general corporate purposes, subject to applicable laws and regulations.
PL Capital Markets Pvt. Ltd. and Khambatta Securities Ltd. are acting as the book-running lead managers for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
