1. IPO Snapshot
| Particular | Details |
|---|
| Company Name | Moneyview Limited |
| IPO Type | 100% Book Built Offer; Fresh Issue + Offer for Sale |
| Fresh Issue | ₹7,500.00 million |
| Offer for Sale | Up to 100,494,200 shares |
| Face Value | ₹1 per Equity Share |
| Price Band | ₹32–₹34 per Equity Share |
| Lot Size | 441 Equity Shares |
| Anchor Bidding | September 23, 2026 |
| IPO Opens | September 24, 2026 |
| IPO Closes | September 28, 2026 |
| Listing Exchange | BSE and NSE; NSE is Designated Stock Exchange |
| Registrar | MUFG Intime India Private Limited |
| BRLMs | Axis Capital; BofA Securities India; IIFL Capital Services; Kotak Mahindra Capital |
2. IPO Details
| Particular | At Floor Price ₹32 | At Cap Price ₹34 |
|---|
| Fresh Issue Shares | 23,43,75,000 | 22,05,88,235 |
| Fresh Issue Amount | ₹75,000.00 million | ₹75,000.00 million |
| OFS Shares | 10,04,94,200 | 10,04,94,200 |
| OFS Value | ₹32,158.14 million | ₹34,168.03 million |
| Total Offer Shares | 33,48,69,200 | 32,10,82,435 |
| Total Offer Value | ₹1,07,158.10 million | ₹1,09,168.00 million |
| Pre-Issue Shares | 1,53,96,43,033 | 1,53,96,43,033 |
| Post-Offer Shares | 1,77,40,18,033 | 1,76,02,31,268 |
| Post-Offer Market Capitalisation | ₹5,67,685.80 million | ₹5,98,478.60 million |
3. Issue Reservation
| Category | Reservation / Allocation |
|---|
| QIB | Not more than 50% of Offer |
| Non-Institutional | Not less than 15% of Offer |
| Retail Individual Investors | Not less than 35% of Offer |
| Anchor Investor Portion | Up to 60% of QIB Portion; discretionary |
| Mutual Fund Portion | 5% of Net QIB Portion |
| NII sub-category 1 | One-third of NII portion; applications >₹200,000 and up to ₹1,000,000 |
| NII sub-category 2 | Two-thirds of NII portion; applications >₹1,000,000 |
4. IPO Lot Size
| Application | Lots | Shares | Amount at ₹32 | Amount at ₹34 |
|---|
| Retail (Min) | 1 | 441 | ₹14,112 | ₹14,994 |
| Retail (Max) | 13 | 5,733 | ₹1,83,456 | ₹1,94,922 |
| S-HNI (Min) | 14 | 6,174 | ₹1,97,568 | ₹2,09,916 |
| S-HNI (Max) | 66 | 29,106 | ₹9,31,392 | ₹9,89,604 |
| B-HNI (Min) | 67 | 29,547 | ₹9,45,504 | ₹10,04,598 |
5. About the Company
Moneyview describes itself as a consumer-focused, digital-only, credit-led financial services platform for Middle India customers. It provides access to financial products through a network of Financial Partners, including its NBFC subsidiary, through the Moneyview mobile application. The platform functions as a two-sided network connecting users with banks, NBFCs, insurers and other financial institutions.
As of June 30, 2026, the RHP states that Moneyview had 140.28 million Registered Users and 48 Financial Partners integrated into its network. It served 99.04% of pin codes across India, operated without physical branches and processed close to 200,000 loan applications per day with minimal human intervention. More than 50% of its employees were in technology and data roles.
Its product portfolio is organized across Borrow, Transact, Invest and Protect. Personal loans are the flagship product. Since Fiscal 2025, the disclosed portfolio has expanded to insurance, home loans, loans against property, credit cards, digital gold, fixed-deposit marketplace services, BBPS, UPI and earned wage access through the Zeo acquisition.
For personal loans, Moneyview operates as a Lending Service Provider with regulated entities and also facilitates on-balance-sheet lending through WFPL. For Platform Partner loans, the RHP describes origination and servicing fees and DLG arrangements. For loans through WFPL, the platform earns origination fees and net interest margin, while WFPL bears the credit risk.
The RHP describes a cloud-native, modular and microservices-based technology infrastructure with API-driven integrations. Its in-house AI/ML models use more than 100,000 data variables for user segmentation and risk assessment. As of June 30, 2026, it was servicing 6.61 million personal-loan users with outstanding loans of ₹225,201.65 million. Monetized users had an average monthly income of ₹46,517.55 and average age of 32 years; 79.54% resided in Tier 2 and beyond cities.
6. Restated Financial Information
| Particular | Jun-26 | Jun-25 | FY26 | FY25 | FY24 |
|---|
| Revenue from operations | 10,411.13 | 6,930.46 | 33,511.58 | 23,391.46 | 13,423.70 |
| Other income | 239.79 | 98.70 | 531.16 | 393.83 | 468.71 |
| Total income | 10,650.92 | 7,029.16 | 34,042.74 | 23,785.29 | 13,892.41 |
| Profit before tax | 2,329.81 | 897.27 | 3,273.54 | 3,192.11 | 1,983.03 |
| Profit for the period/year | 1,737.96 | 671.52 | 2,427.05 | 2,402.75 | 1,711.47 |
| Basic EPS (₹) | 1.13 | 0.44 | 1.60 | 1.60 | 1.20 |
| Diluted EPS (₹) | 1.12 | 0.43 | 1.57 | 1.58 | 1.19 |
| Net Worth | 24,152.03 | 19,910.07 | 22,254.23 | 19,186.64 | 16,066.44 |
| Equity share capital | 382.16 | 382.16 | 382.16 | 382.16 | 352.87 |
| Other equity | 23,748.42 | 19,504.45 | 21,850.62 | 18,781.02 | 15,692.14 |
| Non-current borrowings | 21,309.71 | 15,186.27 | 20,196.41 | 12,011.24 | 4,223.75 |
| Current borrowings | 33,537.87 | 25,515.12 | 31,373.97 | 22,122.43 | 12,865.43 |
| Total assets | 86,418.90 | 64,048.22 | 81,048.54 | 56,324.20 | 35,195.01 |
| Total liabilities | 62,266.87 | 44,138.15 | 58,794.31 | 37,137.56 | 19,128.57 |
| Finance costs | 1,881.27 | 1,335.19 | 6,316.90 | 3,698.21 | 1,255.38 |
| Depreciation & amortisation | 31.74 | 23.11 | 98.79 | 89.51 | 48.60 |
| CFO | 1,171.15 | -5,426.44 | -9,509.02 | -14,207.05 | -16,327.36 |
| CFI | -916.43 | -169.56 | -2,308.49 | -1,352.95 | 4,522.14 |
| CFF | 2,897.38 | 6,508.65 | 16,477.94 | 16,596.40 | 15,178.07 |
| Trade receivables | 5,084.12 | 4,239.32 | 4,566.10 | 3,644.61 | 3,581.73 |
| Trade payables – micro/small enterprises | 597.55 | 122.00 | 215.13 | 96.46 | 75.66 |
| Trade payables – other creditors | 1,552.40 | 1,101.96 | 1,475.97 | 1,068.14 | 835.29 |
7. Key Performance Indicators
| KPI | Jun-26 | Jun-25 | FY26 | FY25 | FY24 |
|---|
| Registered Users (million) | 140.28 | 114.38 | 134.14 | 109.59 | 83.27 |
| Monetized Users (million) | 11.90 | 8.14 | 10.75 | 7.45 | 4.62 |
| Loan Disbursals (₹ million) | 71,519.55 | 50,992.90 | 230,985.19 | 176,211.18 | 145,271.56 |
| Managed AUM (₹ million) | 225,201.65 | 177,078.39 | 213,801.37 | 167,151.41 | 128,848.26 |
| Total Income (₹ million) | 10,650.92 | 7,029.16 | 34,042.74 | 23,785.29 | 13,892.41 |
| Profit before exceptional items & tax (₹ million) | 2,327.49 | 897.27 | 5,340.07 | 3,192.11 | 1,983.03 |
| Profit before exceptional items, net of tax (₹ million) | 1,736.22 | 671.52 | 3,973.44 | 2,402.75 | 1,711.47 |
| Profit for period/year (₹ million) | 1,737.96 | 671.52 | 2,427.05 | 2,402.75 | 1,711.47 |
| Net Worth (₹ million) | 24,152.03 | 19,910.07 | 22,254.23 | 19,186.64 | 16,066.44 |
| RoNW (%) | 7.19 | 3.37 | 17.85 | 12.52 | 10.65 |
8. IPO Valuation
| Metric | Disclosure |
|---|
| Price Band | ₹32–₹34 |
| FY2026 Basic EPS | ₹1.60 |
| FY2026 Diluted EPS | ₹1.57 |
| P/E on Basic EPS | 20.00x at ₹32 / 21.25x at ₹34 |
| P/E on Diluted EPS | 20.38x at ₹32 / 21.66x at ₹34 |
| 3-year weighted-average RoNW | 14.87% |
| NAV per share | ₹15.73 at Jun-26; ₹14.57 at Mar-26 |
| Post-offer NAV | ₹17.84 at ₹32 / ₹17.98 at ₹34 |
| Post-offer market cap | ₹56,768.58 million at ₹32 / ₹59,847.86 million at ₹34 |
| Industry composite P/E | 82.41x |
| WACA – primary transactions | ₹64.15 |
| WACA – secondary transactions | ₹0.27 |
9. Peer Comparison
| Company | Face Value ₹ | Closing Price ₹ | FY26 Revenue ₹m | Basic EPS ₹ | Diluted EPS ₹ | NAV ₹ | P/E | RoNW % |
|---|
| Moneyview Limited | 1 | N.A. | 33,511.58 | 1.60 | 1.57 | 14.57 | N.A. | 17.85 |
| OnEMI Technology Solutions Limited | 1 | 355.60 | 21,792.46 | 46.80 | 21.39 | 113.05 | 16.62 | 20.96 |
| PB Fintech Limited | 2 | 1,740.00 | 67,940.20 | 14.58 | 14.46 | 158.03 | 120.33 | 9.17 |
| One97 Communications Limited | 1 | 1,825.00 | 84,370.00 | 8.66 | 8.55 | 250.39 | 213.45 | 4.61 |
| Bajaj Finance Limited | 1 | 1,027.00 | 819,823.80 | 30.60 | 30.51 | 183.21 | 33.66 | 17.19 |
| SBI Cards and Payment Services Limited | 10 | 637.00 | 198,996.30 | 22.77 | 22.77 | 166.00 | 27.98 | 13.72 |
10. Shareholding & Capital Structure
| Shareholder | Category | Pre Shares | Pre % | Post @ ₹32 Shares | Post @ ₹32 % | Post @ ₹34 Shares | Post @ ₹34 % |
|---|
| Puneet Agarwal | Promoter | 133,275,275 | 8.66% | 119,726,975 | 6.75% | 119,726,975 | 6.80% |
| Sanjay Aggarwal | Promoter | 159,002,825 | 10.33% | 145,454,525 | 8.20% | 145,454,525 | 8.26% |
| Sushma Abburi | Promoter | 8,621,676 | 0.56% | 8,621,676 | 0.49% | 8,621,676 | 0.49% |
| Chitra Agarwal | Promoter Group | 10,000,000 | 0.65% | 8,064,600 | 0.45% | 8,064,600 | 0.46% |
| Payal Himatsingka | Promoter Group | 2,000,000 | 0.13% | 2,000,000 | 0.11% | 2,000,000 | 0.11% |
| Agarwal Family Trust | Promoter Group | 47,000,000 | 3.05% | 47,000,000 | 2.65% | 47,000,000 | 2.67% |
| Ravindra Abburi | Promoter Group | 2,325,000 | 0.15% | 2,325,000 | 0.13% | 2,325,000 | 0.13% |
| Sandeep Agrawal | Promoter Group | 2,325,000 | 0.15% | 2,325,000 | 0.13% | 2,325,000 | 0.13% |
| Sarita | Promoter Group | 2,325,000 | 0.15% | 2,325,000 | 0.13% | 2,325,000 | 0.13% |
| Tvaya Trust | Promoter Group | 1,000 | Negligible | 1,000 | Negligible | 1,000 | Negligible |
| Ashwin P Gramopadhye | Promoter Group | 2,000,000 | 0.13% | 2,000,000 | 0.11% | 2,000,000 | 0.11% |
| Accel India IV (Mauritius) Limited | Additional top 10 | 226,379,856 | 14.70% | 210,002,356 | 11.84% | 210,002,356 | 11.93% |
| Internet Fund III Pte. Ltd. | Additional top 10 | 212,260,098 | 13.79% | 196,904,098 | 11.10% | 196,904,098 | 11.19% |
| Ribbit Capital | Additional top 10 | 156,982,839 | 10.20% | 145,625,939 | 8.21% | 145,625,939 | 8.27% |
| Accel Growth IV Holdings (Mauritius) Ltd. | Additional top 10 | 110,745,048 | 7.19% | 102,733,148 | 5.79% | 102,733,148 | 5.84% |
| Apis Growth II (Mimosa) Pte. Ltd. | Additional top 10 | 101,811,060 | 6.61% | 101,811,060 | 5.74% | 101,811,060 | 5.78% |
| NLI Strategic Venture Investment Limited | Additional top 10 | 58,962,690 | 3.83% | 54,697,090 | 3.08% | 54,697,090 | 3.11% |
| TI JPNIN India Holdco, Ltd. | Additional top 10 | 51,768,330 | 3.36% | 48,023,130 | 2.71% | 48,023,130 | 2.73% |
| Crimson Winter Limited | Additional top 10 | 46,729,461 | 3.04% | 36,729,461 | 2.07% | 36,729,461 | 2.09% |
| Evolvence India Fund IV Ltd | Additional top 10 | 35,683,221 | 2.32% | 35,683,221 | 2.01% | 35,683,221 | 2.03% |
| DI Investment LLC | Additional top 10 | 25,976,850 | 1.69% | 23,627,750 | 1.33% | 23,627,750 | 1.34% |
| Other Public Shareholders | Other public | 143,467,804 | 9.31% | 478,337,004 | 26.97% | 464,550,239 | 26.40% |
| Total | — | 1,539,643,033 | 100% | 1,774,018,033 | 100% | 1,760,231,268 | 100% |
11. Objects of the Issue
| Object | Amount | Deployment |
|---|
| Investment to drive growth in loan disbursals under DLG arrangements | ₹3,250.00 million | ₹1,250.00m FY2027; ₹2,000.00m FY2028 |
| Investment in WFPL to augment its capital base | ₹2,500.00 million | ₹2,500.00m FY2027 |
| General corporate purposes | [●] | [●] |
12. OFS / Selling Shareholders
| Selling Shareholder | Type | Maximum Offered Shares |
|---|
| Puneet Agarwal | Promoter | 13,548,300 |
| Sanjay Aggarwal | Promoter | 13,548,300 |
| Chitra Agarwal | Individual | 1,935,400 |
| Internet Fund III Pte. Ltd. | Investor | 15,356,000 |
| Accel India IV (Mauritius) Limited | Investor | 16,377,500 |
| Accel Growth IV Holdings (Mauritius) Ltd. | Investor | 8,011,900 |
| Crimson Winter Limited | Investor | 10,000,000 |
| Ribbit Capital | Investor | 11,356,900 |
| NLI Strategic Venture Investment Limited | Investor | 4,265,600 |
| TI JPNIN India Holdco, Ltd. | Investor | 3,745,200 |
| DI Investment LLC | Investor | 2,349,100 |
13. Key Risks Highlighted in the RHP
| Editorial Category | RHP-disclosed risk themes |
|---|
| Business / User | User acquisition and retention; sustainability of growth; competition. |
| Financial Partners / Concentration | Dependence on Financial Partners; concentration of revenue among top partners; vendor concentration. |
| Credit | Borrower defaults, Gross Stage 3 Loans and impairment exposure. |
| Technology / Cybersecurity | Technology-driven user assessment; system availability; cybersecurity, data and privacy. |
| Regulatory / Legal | Regulatory framework; licences and approvals; AML compliance; legal and regulatory proceedings. |
| Liquidity / Capital | Negative operating cash flows; liquidity coverage; capital adequacy; access to capital; indebtedness; asset-liability mismatches. |
| Offer / Funding | Use of Fresh Issue proceeds; variation in Objects; no proceeds to the Company from OFS. |
| People / Management | Retention of KMP and employees; one-time performance-linked incentive disclosed for Fiscal 2026. |
| Third-party / Distribution | Payment-method dependence; third-party software; app-store dependence. |
| Data / Information | Accuracy and completeness of user information; data collection, storage and processing re |
20. Litigation & Contingent Liabilities
| Matter | Disclosure |
|---|
| WFPL cyber-incident recovery proceedings | Four claims for ₹38.20 million against first-layer accounts and fourteen claims for ₹23.24 million against second/third-layer accounts; aggregate matter ₹483.20 million; ₹23.45 million recovered by Jun-26 |
| Director Subrata Mitra – regulatory proceeding | Pending FEMA/TISPRO-related matter; review petitions dismissed June 16, 2026 |
| Director Alpana Parida – direct tax | 1 pending case; amount not quantifiable |
| Contingent liability – DLG outstanding | ₹10,607.80 million as of June 30, 2026 |
| WFPL NCD holder-limit matter | 254 holders within six months; NCDs fully redeemed; settlement application pending with SEBI |
15. Registrar
16. Lead Managers
| BRLM | Address | Telephone | Email | Website | Contact | SEBI Reg. No. |
|---|
| Axis Capital Limited | Axis House, 1st Floor, Pandurang Budhkar Marg, Worli, Mumbai 400 025 | +91 22 4325 2183 | moneyview.ipo@axiscap.in | www.axiscapital.co.in | Devika Kanani | INM000012029 |
| BofA Securities India Limited | Ground Floor, A Wing, One BKC, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 | +91 22 6632 8000 | dg.moneyview_ipo@bofa.com | www.business.bofa.com/bofas-india | Sayantan Bhattacharyya | INM000011625 |
| IIFL Capital Services Limited | 24th Floor, One Lodha Place, Senapati Bapat Marg, Lower Parel (West), Mumbai 400013 | +91 22 4646 4728 | moneyview.ipo@iiflcap.com | www.iiflcapital.com | Sagar Mehta / Pawan Kumar Jain | INM000010940 |
| Kotak Mahindra Capital Company Limited | 1st Floor, 27 BKC, Plot No. C-27, ‘G’ Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 | +91 22 4336 0000 | moneyview.ipo@kotak.com | https://investmentbank.kotak.com | Ganesh Rane | INM000008704 |
17. Company Contact Details
| Particular | Disclosure |
|---|
| CIN | U72200KA2014PLC075775 |
| Registered & Corporate Office | 17/1, 1st and 2nd Floor, The Address Building, Outer Ring Road, Marathahalli, Kadubeesanahalli, Bangalore 560 103, Karnataka, India |
| Contact person | Ankit Kumar Jain, Company Secretary and Compliance Officer |
| Telephone | +91 80 6765 0903 |
| Email | investor.relations@moneyview.in |
| Website | https://moneyview.in |
