| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹32 to ₹34 | 441 | 24th Sep, 2026 – 28th Sep, 2026 | ₹1092 Cr |
Moneyview Ltd
Moneyview Limited was incorporated in August 2014 as Whizdm Innovations Private Limited and has evolved from a personal finance management application into a consumer-focused, digital-only financial technology platform. It serves “Middle India”, comprising digitally savvy, mass middle-income households with annual incomes of Rs. 3-11 lakhs. The company operates a predominantly capital-light Lending Service Provider (LSP) model, using real-time API integrations with 48 Financial Partners, including 22 Regulated Entities, to facilitate off-book lending, which accounted for 74.9% of Managed AUM as of June 30, 2026, while the remaining 25.12% was generated through on-book lending via its wholly owned material subsidiary, Whizdm Finance Private Limited (WFPL), an RBI-registered middle-layer NBFC. Moneyview’s technology platform is supported by 15+ contextual AI/ML models, over 100,000 data variables and 3,000+ segmentations, enabling the company to assess customers and provide personalised credit solutions. Its flagship offering comprises personal loans of up to Rs. 10 lakhs, while the company has expanded into an integrated financial ecosystem covering Home Loans and Loans Against Property of up to Rs. 5 crores, Earned Wage Access, co-branded Credit Cards, Digital Gold, Fixed Deposits, General and Auto Insurance, UPI and bill payments. The company has also strengthened its product offering through the acquisition of Jify in September 2024, which enabled its entry into Earned Wage Access. This diversified product ecosystem has helped Moneyview build significant scale, with 140.28 million Registered Users, 11.90 million Monetized Users and Rs. 22,520 crores of Managed AUM as of June 30, 2026. The platform has a strong presence beyond major urban centres, with 79.5% of monetized users located in Tier 2+ cities, while its digital model enables loan disbursals across 99% of India’s PIN codes. Moneyview accounted for approximately 10.5% of digital unsecured personal loan sanctions in FY26, highlighting its growing presence in India’s digital credit market. Beyond lending, engagement platforms such as its Credit Score Tracker and Money Manager had 29.9 million and 3.6 million users, respectively, providing additional customer acquisition and cross-selling opportunities. The company’s expanding ecosystem has also supported stronger customer engagement, with Repeat AUM increasing from 42.1% in FY24 to 60.9% in FY26 and 62.7% in Q1FY27, reflecting increasing usage of Moneyview’s platform by existing customers.
Objective of Moneyview Ltd
The offer comprises a fresh issue of Rs. 750 crores and an offer for sale of Rs. 342 crores, aggregating to Rs. 1,092 crores. The company proposes to utilise the net proceeds from the fresh issue towards:
- Pre-Investment to drive growth in loan disbursals under Default Loss Guarantee (DLG) arrangements, amounting to Rs. 325 crores;
- Investment in WFPL, the Material Subsidiary, for augmenting its capital base, amounting to Rs. 250 crores; and
- General corporate purposes
Rationale To Moneyview Ltd
Investment Rationale
Market leadership in middle India supported by an expanding multi-product ecosystem and strong customer retention
Moneyview has established a strong position in India’s digital lending market, emerging as the largest full-stack digital lending platform among its peers by AUM as of FY25, while accounting for approximately 10.5% of digital personal loan sanctions and 1.6% of overall unsecured personal loan sanctions in FY26. This position is supported by its focused presence in “Middle India”, comprising mass middle-income households with annual incomes of Rs. 3-11 lakhs, where the company’s digital-only and paperless model enables it to reach 99.04% of India’s PIN codes. Its reach is particularly strong beyond major urban centres, with 79.54% of monetized users located in Tier 2+ cities as of June 30, 2026. Moneyview has also built a large customer acquisition funnel through its engagement-led platforms, including the Credit Score Tracker and Money Manager, which had 29.8 million and 3.6 million users, respectively, providing opportunities to convert users into borrowers and customers of other financial products. The company has progressively expanded beyond personal loans into a broader four-pillar ecosystem covering Borrow, Save & Invest, Protect and Transact, including home loans, loans against property, earned wage access, credit cards, digital gold, fixed deposits, insurance, UPI and bill payments. This expansion allows Moneyview to address multiple financial needs of the same customer and increase engagement across the platform, with its non-credit products reaching 1.27 million monthly transacting users as of June 2026. The resulting increase in customer engagement has translated into stronger retention, with Repeat AUM increasing from 42.1% in FY24 to 60.9% in FY26 and 62.7% in Q1FY27. The company’s 4.8-star app rating and growing repeat customer base further support the platform’s ability to deepen customer relationships, while direct marketing and sourcing costs declined from 2.9% of disbursals in FY24 to 1.7% in Q1FY27. This combination of a large addressable customer base, strong Tier 2+ penetration, multiple product offerings and increasing customer retention provides Moneyview with opportunities to improve customer lifetime value and scale its financial ecosystem.
Proprietary AI/ML underwriting and capital-light model support scalable growth and credit quality
Moneyview combines a capital-light Lending Service Provider (LSP) model with proprietary technology and AI/ML-led underwriting, allowing it to scale its lending platform without relying entirely on its own balance sheet. The company works with 48 Financial Partners, including 22 Regulated Entities, with off-book lending accounting for 74.9% of Managed AUM as of June 30, 2026, while the remaining 25.1% is generated through on-book lending by its wholly owned NBFC subsidiary, WFPL. This hybrid structure enables Moneyview to generate fee-based income through partner lending while retaining the flexibility to deploy its own balance sheet where appropriate. The technology platform is a key differentiator, with 15+ contextual AI/ML models evaluating more than 100,000 data variables across 3,000+ segmentations, allowing the company to assess borrower behaviour beyond traditional credit bureau scores and identify meaningful differences in risk even among customers with similar bureau scores. This data-driven underwriting framework supports more granular customer segmentation and helps Moneyview tailor credit decisions, pricing and loan offers to individual borrower profiles. The company has also developed an integrated technology infrastructure covering customer acquisition, underwriting, onboarding, loan servicing and collections, enabling the lending process to be managed digitally across the customer lifecycle. More than 50% of its 798 employees are engaged in technology and data functions, highlighting the importance of technology within the operating model. Further, the LSP structure allows Moneyview to leverage the balance sheets and funding capabilities of multiple regulated lending partners, reducing dependence on a single funding source while expanding its ability to serve different borrower segments. Its proprietary technology, diversified financial partner network and asset-light structure therefore provide the company with a scalable platform to expand its lending business while maintaining greater control over credit selection and customer experience
Valuation of Moneyview Ltd
Moneyview Limited is a consumer-focused, digital-only financial technology platform serving the “Middle India” segment through a diversified ecosystem spanning lending, investments, insurance and payments. The company has built significant scale with 14.0 crore registered users, 1.2 crore monetized users and Rs. 22,520 crores of Managed AUM, while accounting for around 10.5% of digital unsecured personal loan sanctions in FY26. Its investment case is supported by its strong market position, expanding multi-product ecosystem and high customer retention, with Repeat AUM reaching 62.7% in Q1FY27, as well as its proprietary AI/ML-led underwriting platform and capital-light LSP model, which support scalable growth and improving credit quality. Revenue from operations grew at a 58.0% CAGR over FY24-FY26 to Rs. 3,351 crores, while reported PAT stood at Rs. 243 crores in FY26, impacted by exceptional items relating to the Rs. 46.6 crores net cash loss from a cyber incident at WFPL and a one-time performance-based incentive of Rs. 160 crores to the MD & CEO. Excluding these exceptional items, PAT stood at Rs. 396 crores in FY26, representing a 52.2% CAGR over FY24-FY26. The annualized loss rate also improved to 6.9% in FY26, while annualized RoE stood at 29.9% in Q1FY27, highlighting improving underlying profitability. At the upper issue price of Rs. 34, Moneyview is valued at around 21.7x FY26 P/E and 2.7x P/B, compared with 16.6x, 27.9x, 33.7x, 120.3x and 213.5x P/E for OnEMI Technology Solutions, SBI Cards, Bajaj Finance, PB Fintech and One97 Communications, respectively, with the peer average at 82.4x P/E. While credit risk, regulatory changes and dependence on financial partners remain key considerations, the combination of strong growth, scalable technology-led operations, improving customer retention and attractive relative valuation provides support at the issue price. At the upper price band of Rs. 34, the issue is valued at 21.7x FY26 P/E, at a significant discount to the 82.4x peer average. Given the strong growth profile, scalable business model, improving underlying profitability and attractive relative valuation, we assign a “SUBSCRIBE” rating to the issue.
What is the Moneyview Ltd IPO?
The initial public offer (IPO) of Moneyview Ltd an early investment opportunity in. A stock market investor can buy Moneyview Ltd IPO shares by applying in IPO before Moneyview Ltd get listed at the stock exchanges. An investor could invest in Moneyview Ltd for short term listing gain or a long term.
How to apply for the Moneyview Ltd IPO through StoxBox?
To apply for the Moneyview Ltd through StoxBox one can apply from the website and also from the app. Click here
When will the Moneyview Ltd IPO open?
Moneyview Ltd is opening on 24th Sep 2026. Apply Now
What is the lot size of the Moneyview Ltd IPO?
The Lot Size of Moneyview Ltd 441 equity shares. Login to your account now.
When is the Moneyview Ltd IPO allotment date?
The allotment Date for Moneyview Ltd IPO 29th Sep 2026. Login to your account now.
When is the Moneyview Ltd IPO listing date?
The listing Date for Moneyview Ltd is 1st Oct 2026. Login to your account now
What is the minimum investment required for the Moneyview Ltd IPO?
In the Retail segment the minimum investment required is Rs 14,994 Login to your account now
What is the maximum investment allowed for Moneyview Ltd IPO?
In the Retail segment the maximum investment requirement Rs 1,94,922 Login to your account now
What are the risks associated with investing in the Moneyview Ltd IPO?
- Moneyview assumes credit risk through DLG arrangements with partner Regulated Entities. Whizdm Finance Private Limited (WFPL), its wholly owned material subsidiary and RBI-registered middle-layer NBFC, also carries loans on its balance sheet. DLG outstanding stood at Rs. 1,061 crores, or 43.9% of Net Worth, as of June 30, 2026. Impairment expense stood at Rs. 261.4 crores in Q1FY27. Higher borrower defaults could increase credit costs and impact profitability.
- Moneyview relies on financial partners for funding and loan disbursals. Its top 10 Financial Partners contributed 39.0% of revenue in Q1FY27. Any loss of key partnerships or reduction in loan allocations could adversely impact revenue and loan growth.
- WFPL primarily provides unsecured personal loans. This exposes the company to higher credit risk during periods of economic or income stress. Gross Stage 3 Loans stood at 2.7% as of June 30, 2026. Further deterioration in asset quality could increase credit costs and provisioning.
- Moneyview and WFPL operate under evolving RBI regulations covering digital lending, DLG, co-lending and NBFCs. Changes in lending structures, capital requirements or data protection norms could increase compliance costs and restrict the scalability of the business.
When will the Moneyview Ltd IPO shares be credited to my Demat account?
The Moneyview Ltd will be credited to the account on allotment date which is 29th Sep 2026. Login to your account
Where can I find the Moneyview Ltd IPO prospectus?
The prospectus of Moneyview Ltd IPO prospectus can be found on the website of SEBI, NSE and BSE
