Moneyview IPO
Moneyview shares listed on BSE and NSE on 1 October 2026 after an IPO priced at ₹34, an issue of ₹1,091.68 crore.
- Minimum investment
- ₹14,9941 lot of 441 shares, at the issue price
- Issue price
- ₹34
- Lot size
- 441 shares
- Issue size
- ₹1,091.68 croreFresh issue and offer for sale
- Bidding
- 24 Sep to 28 Sep
- Listing
- 1 OctBSE, NSE
Dates
Moneyview IPO dates
RHP cover page and Terms of the Offer (p. 463)- 23 SepAnchor bidding
- 24 SepBidding opens
- 28 SepBidding closes, UPI by 5 pm
- 29 SepAllotment
- 30 SepRefunds and demat credit
- 1 OctListing
- Today7 Nov
Read before you apply
Moneyview IPO review: read before you apply
Worth checking
- SeriousLarge share sale at very low cost
Existing holders sell up to 10,04,94,200 shares. Promoters Puneet Agarwal and Sanjay Aggarwal have an average cost of ₹0.74 and ₹0.34 a share, and Accel India IV ₹5.32 (RHP cover page).
- SeriousLoan losses are rising
Impairment on loans was ₹983.53 crore in FY26, 28.89% of total income, up from 18.19% in FY24. Gross stage 3 loans rose from 0.94% of gross loans in March 2024 to 2.74% in March 2026 (Risk factors 5 and 6).
- One-off charges in FY26
FY26 had ₹206.65 crore of exceptional charges: a ₹160 crore one-time incentive to MD and CEO Puneet Agarwal and a ₹46.65 crore net loss from a cyber fraud at subsidiary WFPL (Risk factor 15; RHP, Restated Financial Information, Note 38).
- Negative operating cash flow
Cash from operations was negative in FY24 to FY26 because new loans are counted as operating outflows, and the RHP expects this to continue (Risk factor 10).
- Depends on partner fees
Fees and commission from financial partners were 56.68% of FY26 revenue, and the top ten partners gave 37.36% of revenue (Risk factors 2 and 16).
- Promoters will own under 20%
Promoters and the promoter group hold 23.96% before the IPO, and the RHP says promoter holding will be below 20% after it (Risk factor 70; Capital Structure).
Strengths
- Fast revenue growth
Revenue from operations grew about 58% a year from ₹1,342.37 crore in FY24 to ₹3,351.16 crore in FY26 (our calculation from the restated financial information).
- Profitable in every year shown
Profit before exceptional items (net of tax) rose from ₹171.15 crore in FY24 to ₹397.34 crore in FY26, and return on net worth from 10.65% to 17.85% (RHP, Basis for Offer Price, KPIs).
- Large user base
It had 14.03 crore registered users and 1.19 crore monetized users in June 2026, and served 99.04% of India's pin codes with no branches (RHP, Our Business).
- Costs falling as a share of income
Operating expenses fell from 56.42% of total income in FY24 to 34.84% in FY26 (RHP, Basis for Offer Price, qualitative factors).
- NBFC arm well capitalised
Subsidiary WFPL had a capital adequacy ratio of 24.32% in June 2026, against a 15% minimum (RHP, Objects of the Offer).
What Moneyview does
Moneyview runs a mobile app that offers personal loans of up to ₹10 lakh to middle-income Indians. Most loans are given by 22 partner banks and NBFCs, with Moneyview acting as a lending service provider. Its own NBFC, Whizdm Finance, also lends.
Since August 2024 it has added credit cards, earned wage access, home loans, insurance, digital gold, UPI and bill payments. It was founded in 2014 by Puneet Agarwal and Sanjay Aggarwal and is based in Bengaluru.
Listing and subscription
Moneyview IPO subscription status
NSE IPO details, final figuresListing day
Our calculation: gain vs upper price- Issue price
- ₹34
- Listing price
- ₹55
- Gain at open
- +61.8%
- Day close
- ₹53.88
Subscription
- Total
- 98.46x
- Retail
- 19.57x
- Updated
- 28 Sep 2026, 5:00 pm IST
- QIB50% of offer227.45x
- NII15% of offer115.41x
- Big NII131.54x
- Small NII83.15x
- Retail35% of offer19.57x
- Total98.46x
As of 28 Sep 2026, 5:00 pm IST. Times subscribed is a fact about demand, not a sign of quality. Share of offer is from the RHP offer structure.
Grey market premium. GMP is unofficial. It is not regulated or published by any exchange. If we show it, it carries its source and time, never as a forecast. What GMP means
Price and lots
Moneyview IPO price band, lot size and issue size
RHP cover page and The Offer (pp. 87 to 88). Fresh share count and total offer size are our calculation at the issue price of ₹34.| Issue price | ₹34 |
| Lot size | 441 shares |
| Issue size | ₹1,091.68 crore at the upper price |
| Fresh issue | ₹750 crore |
| Offer for sale | ₹341.68 crore by promoters Puneet Agarwal and Sanjay Aggarwal, promoter group member Chitra Agarwal, and investors Accel India IV, Internet Fund III, Ribbit Capital, Crimson Winter, Accel Growth IV, NLI Strategic Venture Investment, TI JPNIN India Holdco and DI Investment |
| Face value | ₹1 per share |
| Issue type | Book built, fresh issue and offer for sale |
Where the money goes
Percentages are our calculation.
Who gets how much of the net offer
What the company will do with the money
RHP, Objects of the Offer (pp. 134 to 137)| Object of the issue | ₹ crore |
|---|---|
| Fund default loss guarantee (DLG) deposits to grow loan disbursals with lending partners | 325.00 |
| Investment in subsidiary Whizdm Finance (NBFC) to add to its capital | 250.00 |
| General corporate purposes (amount set after pricing; up to 25% of gross fresh issue proceeds) | |
| Offer for sale by existing shareholders. The company receives none of this money |
Minimum and maximum investment
Our calculation: at ₹34 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min)Minimum application | 1 | 441 | ₹14,994 |
| Retail (max) | 13 | 5,733 | ₹1,94,922 |
| Small NII (min) | 14 | 6,174 | ₹2,09,916 |
| Small NII (max) | 66 | 29,106 | ₹9,89,604 |
| Big NII (min) | 67 | 29,547 | ₹10,04,598 |
Retail bids are capped at ₹2 lakh and small NII bids at ₹10 lakh.
Valuation calculator
Our calculation: inputs from RHP, Restated Consolidated Financial Information and Basis for Offer Price (pp. 144 to 146)Set to the issue price, ₹34. Change it to see what you would be paying for.
- Market cap
- ₹5,985 cr
- P/E (FY26, diluted)
- 21.7x
- Price to book
- 2.5x
- Market cap to sales
- 1.8x
- Peer average P/E
- 82.41x
Based on FY26, diluted EPS of ₹1.57, 176.02 crore shares, net worth of ₹2,415.20 crore (June 2026) and revenue of ₹3,351.16 crore. Shares are after the IPO (our calculation at the issue price of ₹34). The peer average P/E of 82.41x is the RHP's industry composite (p. 144) across OnEMI Technology Solutions, PB Fintech, One97 Communications, Bajaj Finance and SBI Cards, at BSE prices on 18 Sep 2026. FY26 EPS is after ₹206.65 crore of exceptional charges.
Financials
Moneyview financials
RHP, Restated Consolidated Financial Information (pp. 90 to 92), ₹ croreRevenue and profit after tax
Revenue from operations grew about 58% a year from FY24 to FY26 (our calculation).
| ₹ crore | FY24 | FY25 | FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue from operations | 1,342.37 | 2,339.15+74.3% | 3,351.16+43.3% | 1,041.11 |
| Total income | 1,389.24 | 2,378.53+71.2% | 3,404.27+43.1% | 1,065.09 |
| Impairment on loans | 252.72 | 667.73 | 983.53 | 261.40 |
| Finance costs | 125.54 | 369.82 | 631.69 | 188.13 |
| Profit before exceptional items and tax | 198.30 | 319.21 | 534.01 | 232.75 |
| Profit after tax | 171.15 | 240.28+40.4% | 242.71+1.0% | 173.80 |
| Profit before exceptional items (net of tax) | 171.15 | 240.28 | 397.34 | 173.62 |
| Diluted EPS (₹) | 1.19 | 1.58 | 1.57 | 1.12 |
| Total equity | 1,606.64 | 1,918.66 | 2,225.42 | 2,415.20 |
| Total borrowings | 1,708.92 | 3,413.37 | 5,157.04 | 5,484.76 |
| Cash from operations | -1,632.74 | -1,420.71 | -950.90 | 117.12 |
Consolidated figures. Q1 FY27 is April to June 2026 and is not annualised. FY26 includes ₹206.65 crore of exceptional charges (a one-time incentive to the MD and CEO and a cyber fraud loss). Q1 FY27 includes a ₹0.23 crore exceptional gain.
The small figures under revenue and profit are the change from the previous full year, our calculation.
Compared with listed peers
RHP, Basis for Offer Price (p. 146). Peer prices as of 18 Sep 2026 on BSE.| Company | Revenue (₹ crore) | Diluted EPS (₹) | P/E | RoNW |
|---|---|---|---|---|
| Moneyview | 3,351.16 | 1.57 | 21.66x at issue price (ours) | 17.85% |
| OnEMI Technology Solutions | 2,179.25 | 21.39 | 16.62x | 20.96% |
| PB Fintech | 6,794.02 | 14.46 | 120.33x | 9.17% |
| One97 Communications | 8,437.00 | 8.55 | 213.45x | 4.61% |
| Bajaj Finance | 81,982.38 | 30.51 | 33.66x | 17.19% |
| SBI Cards and Payment Services | 19,899.63 | 22.77 | 27.98x | 13.72% |
The peer average P/E of 82.41x is our calculation, a simple average of the peers listed.
Key performance indicatorsRegistered users (crore), Monetized users (crore), Loan disbursals (₹ crore) and more
| Metric | FY24 | FY25 | FY26 | Q1 FY27 |
|---|---|---|---|---|
| Registered users (crore) | 8.33 | 10.96 | 13.41 | 14.03 |
| Monetized users (crore) | 0.46 | 0.75 | 1.08 | 1.19 |
| Loan disbursals (₹ crore) | 14,527.16 | 17,621.12 | 23,098.52 | 7,151.96 |
| Managed AUM (₹ crore) | 12,884.83 | 16,715.14 | 21,380.14 | 22,520.17 |
| Return on net worth | 10.65% | 12.52% | 17.85% | 7.19% |
| Gross stage 3 loans | 0.94% | 1.88% | 2.74% | 2.72% |
| Annualised losses on loans facilitated | 7.93% | 7.07% | 6.95% | 6.90% |
| Fees and commission share of revenue | 75.64% | 63.56% | 56.68% | 60.79% |
Q1 FY27 is April to June 2026; return on net worth for it is not annualised. Return on net worth uses profit before exceptional items. User counts are cumulative since inception.
RHP, Basis for Offer Price, KPIs (pp. 143 and 147) and Risk factors 5, 6 and 16
Company
About Moneyview
Business
RHP, Our Business and Risk Factors (Risk factors 16 and 34)Managed AUM (loans serviced through the platform) was ₹22,520.17 crore in June 2026, with WFPL's own book 25.12% of it. All these loans are unsecured. 36.64% of Managed AUM in March 2026 was in south India.
Revenue by type, FY26
- Financial partners, June 2026
- 48
- Managed AUM, June 2026
- ₹22,520.17 crore
- Users in Tier 2 and smaller cities
- 79.54%
- Employees, June 2026
- 798
Key risks
RHP, Risk Factors- Borrower defaultsAll loans are unsecured, and rising defaults raise impairment costs.
- Partner dependenceMost revenue comes from fees paid by banks and NBFCs on the platform.
- RegulationRBI digital lending and NBFC rules can change and limit operations.
- Borrowing and capitalBorrowings rose from ₹1,708.92 crore in FY24 to ₹5,157.04 crore in FY26.
- Cyber securityA cyber fraud at WFPL in August 2025 led to unauthorised withdrawals of ₹48.32 crore.
- CompetitionIt competes with fintechs, banks and NBFCs for the same users.
- Regional concentrationSouth India held 36.64% of Managed AUM in March 2026.
- ComplaintsCustomers raised complaints with SEBI and the BRLMs after the draft RHP, mostly about collections.
Read before you apply puts the most important of these beside the strengths.
Promoters and shareholdingAfter-IPO percentages are not shown.
Accel funds are the largest investors, holding 21.89% together before the IPO. Promoters and the promoter group hold 23.96%. After-IPO percentages are not shown.
| Shareholder | Before IPO | Selling (shares) |
|---|---|---|
| Accel India IV (Mauritius) | 14.70% | 1,63,77,500 |
| Internet Fund III Pte. Ltd. | 13.79% | 1,53,56,000 |
| Sanjay Aggarwal (promoter) | 10.33% | 1,35,48,300 |
| Ribbit Capital | 10.20% | 1,13,56,900 |
| Puneet Agarwal (promoter) | 8.66% | 1,35,48,300 |
| Accel Growth IV Holdings (Mauritius) | 7.19% | 80,11,900 |
| Apis Growth II (Mimosa) | 6.61% | Nil |
| Crimson Winter Limited | 3.04% | 1,00,00,000 |
RHP, Capital Structure (pp. 122 to 124) and The Offer
IndustryIndia retail loan sanctions FY2026: ₹76.6 lakh crore
- India retail loan sanctions FY2026
- ₹76.6 lakh crore
- Expected by FY2031
- ₹138 to ₹151 lakh crore
- Expected growth
- 13% to 15% a year
These cover all retail lending, not only digital personal loans. The report gives them in ₹ trillion; ₹ lakh crore is the same amount.
Redseer report in the RHP, commissioned and paid for by the company (p. 169)
LitigationAgainst the company: 0 · By subsidiary WFPL: criminal (cyber fraud complaint): 1 · Against directors: regulatory (ED notice to a nominee director): 1
| Type | Cases | Amount |
|---|---|---|
| Against the company | 0 | Nil |
| By subsidiary WFPL: criminal (cyber fraud complaint) | 1 | ₹48.32 crore |
| Against directors: regulatory (ED notice to a nominee director) | 1 | Not quantified |
| Directors: tax | 1 | Not quantified |
| Promoters | 0 | Nil |
RHP, Outstanding Litigation and Other Material Developments (pp. 428 to 432)
Company detailsLegal name, registered office, CIN and website
| Legal name | Moneyview Limited |
| Founded | 2014, by Puneet Agarwal and Sanjay Aggarwal |
| Promoters | Puneet Agarwal, Sanjay Aggarwal, Sushma Abburi |
| NBFC subsidiary | Whizdm Finance Private Limited |
| Main product | Personal loans of up to ₹10 lakh |
RHP, General Information
Lead managers and registrar
RHP cover pageAllotment
Moneyview IPO allotment status
Out from 29 Sep 2026- Open the registrar's pageMUFG Intime India Private Limited is the registrar. Open its allotment page.
- Select Moneyview LimitedIt appears once the basis of allotment is final.
- Enter your PAN, application number or DP IDUse the details you applied with.
- Or check on the exchangeBSE's application status page works too.
Documents
Questions
Moneyview IPO FAQs
When does the Moneyview IPO open and close?
The Moneyview IPO opens on Thursday, 24 September 2026 and closes on Monday, 28 September 2026. Anchor bidding is on 23 September 2026. UPI mandates must be approved by 5 pm on the closing day.
What is the Moneyview IPO price band and lot size?
The price is ₹34 per share. The lot size is 441 shares, so the minimum bid is 441 shares, or ₹14,994 at the upper price.
What is the Moneyview IPO size?
The Moneyview IPO is of ₹1,091.68 crore at the upper end of the price band. It is a fresh issue and offer for sale by promoters Puneet Agarwal and Sanjay Aggarwal, promoter group member Chitra Agarwal, and investors Accel India IV, Internet Fund III, Ribbit Capital, Crimson Winter, Accel Growth IV, NLI Strategic Venture Investment, TI JPNIN India Holdco and DI Investment.
What is the Moneyview IPO allotment date?
Allotment is on Tuesday, 29 September 2026. Refunds and demat credit are expected on 30 September 2026.
What is the Moneyview IPO listing date?
Moneyview shares are due to list on BSE and NSE on Thursday, 1 October 2026.
Who is the registrar of the Moneyview IPO?
MUFG Intime India Private Limited is the registrar. Allotment status can be checked on its website or on BSE using your PAN or application number.
What does Moneyview do?
Moneyview is a Bengaluru-based digital financial services platform that arranges unsecured personal loans and other financial products for middle-income users through partner lenders and its own NBFC.
What does Moneyview do?
It runs a mobile app that arranges unsecured personal loans of up to ₹10 lakh through partner banks and NBFCs and its own NBFC, Whizdm Finance. It also offers credit cards, insurance, digital gold and payments.
How much new money does Moneyview raise and what is it for?
Up to ₹750 crore from the fresh issue. ₹325 crore is for default loss guarantee deposits, ₹250 crore for its NBFC subsidiary's capital, and the rest for general corporate purposes.
Who is selling shares in the Moneyview IPO?
Promoters Puneet Agarwal and Sanjay Aggarwal, promoter group member Chitra Agarwal, and investors including Accel, Internet Fund III, Ribbit Capital and Crimson Winter sell up to 10,04,94,200 shares in total.
When is the Moneyview IPO open?
From 24 to 28 September 2026, with anchor bidding on 23 September. Listing was scheduled for about 1 October 2026 on BSE and NSE.
Is Moneyview profitable?
Yes. Profit after tax was ₹171.15 crore in FY24, ₹240.28 crore in FY25 and ₹242.71 crore in FY26, after ₹206.65 crore of one-off charges in FY26 (RHP, Restated Financial Information).
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