IPO closes on 28 Sep'26
Moneyview Limited
Minimum Investment
₹ 14,994 / 441 shares
Our Verdict:
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- Moneyview has scaled fast and profitably — revenue grew from ₹1,389.24cr (FY24) to ₹3,404.27cr (FY26) and PAT from ₹171.15cr to ₹242.71cr — with managed AUM of ₹22,520 crore as of June 30, 2026, up 27% year-on-year.
- The business runs two distinct risk models side by side: an off-book, fee-driven lending-service-provider model (₹16,863cr AUM, credit risk capped at 5% per partner via Default Loss Guarantees) and an on-book NBFC lending model through its subsidiary WFLP (₹5,657cr AUM) that bears full credit risk directly — the mix between these two matters more to earnings quality than the headline growth number.
- A meaningful share of the loan book skews toward Tier 2+ city borrowers (79.54% of monetized users) earning ₹3–11 lakh annually, a segment that can be more sensitive to income shocks than a prime, metro-heavy borrower base in a slowdown.
About the company
Founded in
11 Aug'14
Managing director
Puneet Agarwal
- Moneyview Limited (originally incorporated as Whizdm Innovations Private Limited) is a Bengaluru-based fintech platform offering personal loans, credit tracking and integrated financial products including deposits, insurance and investments.
- The company operates a dual model: as a lending service provider earning origination and servicing fees for 22 partner banks/NBFCs (off-book AUM of ₹16,862.71cr), and as a direct lender through its NBFC subsidiary WFLP, which bears full credit risk on its own book (₹5,657.46cr AUM), as of June 30, 2026.
- As of FY26, the platform served 6.61 million active loan users, with FY26 loan disbursals of ₹23,098.52 crore and a loan margin of 8.55%.
- Promoters: Puneet Agarwal, Sanjay Aggarwal and Sushma Abburi
STRENGTHS
- Large, Fast-Growing AUM Base: Managed AUM of ₹22,520.17 crore as of June 30, 2026, growing 27.18% year-on-year, across both on-book and off-book lending channels.
- Capped-Risk Fee Income Stream: The off-book lending-service-provider model earns origination and servicing fees while capping Default Loss Guarantee exposure at 5% per partner portfolio, limiting downside on a large share of AUM.
- Diversified Partner Network: Services 22 regulated banks and NBFCs through a unified acquisition, verification and collections infrastructure, reducing dependence on any single funding partner.
- Strong Revenue and Profit Growth: Revenue grew from ₹1,389.24 crore (FY24) to ₹3,404.27 crore (FY26), while PAT grew from ₹171.15 crore to ₹242.71 crore over the same period.
- Improving Loan Margins: Loan margin improved from 8.21% (FY25) to 8.55% (FY26), attributed in the RHP to lower credit costs.
RISK FACTORS
- Direct Credit Risk on the On-Book Portfolio: Through NBFC subsidiary WFLP, the company bears full credit risk on ₹5,657.46 crore of on-book AUM, exposing it directly to borrower defaults in that segment.
- Partner Dependency in the Off-Book Model: The larger off-book AUM of ₹16,862.71 crore depends on continued origination relationships with 22 partner banks/NBFCs and their willingness to fund loans sourced by the platform.
- Borrower Segment Sensitivity: 79.54% of monetized personal-loan users are based in Tier 2+ cities, with 67.87% earning ₹3–11 lakh annually — a segment that can see credit quality deteriorate faster than a prime, metro-focused borrower base during an income shock.
- Regulatory Dependence for LSP Operations: Continued operation as a lending service provider depends on ongoing regulatory approval and the partner institutions' own regulatory standing, introducing a layer of dependency outside the company's direct control.
- First Public Issue — No Prior Trading History: This is the company's first public issue, so there is no existing market for the shares and no trading history to gauge post-listing price behavior.
Financials
All Values are in Cr.
Issue details
Issue type
Mainboard
Issue size
₹ 1,092 crore
Fresh Issue
₹ 750 crore
OFS
₹ 342 crore
Price range
₹ 32 - 34
Lot size
441 shares
Issue Objective
- Net proceeds from the Fresh Issue of ₹750 crore are proposed to be used toward working capital requirements and general corporate purposes. The Offer for Sale of ₹342 crore by promoters and existing investors (including Accel, Ribbit Capital and other selling shareholders) accrues to them, not the company.
Dates
Bidding open
24 Sep'26
Bidding close
28 Sep'26
Allotment date
29 Sep'26
Refund date
30 Sep'26
Listing
1 Oct'26
IPO Reservations
Qualified institutional buyers
<50%
Non-institutional investors
>15%
Retail individual investors
>35%
Read the Offer Document (PDF)
© 2026 by Liquide Solutions Private Limited, SEBI Registered Research Analyst (Registration number - INH000009816)
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