Moneyview Limited IPO

Moneyview Limited IPO closed on 28 Sept 2026. Allotment 29 Sept 2026, listing 1 Oct 2026. Price band ₹32–₹34, lot 441 shares, GMP +₹14.5 (42.65%). Track allotment on Allotly.

About Moneyview Limited

Moneyview is a consumer-focused, digital-only, credit-led financial services platform serving customers in India through its Moneyview mobile application. The company provides access to financial products through a network of financial partners, including banks, NBFCs, insurance providers, and its NBFC subsidiary. Its offerings include personal loans, credit cards, earned wage access, home loans, loans against property, insurance, digital gold, UPI transactions, and bill payments. The company launched its personal loan product in the financial year 2017 and expanded its product offerings from August 2024. All products are accessed through a fully digital process on its mobile application. As of June 30, 2026, the company had integrations with 48 financial partners and served 99.04% of pin codes across India. It operates without physical branches and processes close to 200,000 loan…

Strengths

• Moneyview’s registered users increased from 83.27 million as of March 31, 2024, to 134.14 million as of March 31, 2026, and 140.28 million as of June 30, 2026. Monetised users also increased from 4.62 million to 10.75 million over the same period, reaching 11.90 million as of June 30, 2026.
• The company’s repeat assets under management (AUM) increased from 42.08% in FY24 to 52.90% in FY25 and 60.86% in FY26, reaching 62.70% as of June 30, 2026. This indicates an increasing share of its managed personal loan portfolio from borrowers taking second and subsequent loans.
• Moneyview claims to use in-house AI/ML models trained on more than 100,000 data variables for user segmentation and risk assessment. The company uses user-provided information, device data obtained with consent, transactional SMS and bank statement data, repayment history, credit bureau data, and other sources.
• The company claims to have developed its technology platform in-house over the past 11 years. As of June 30, 2026, the platform served users across 99.04% of PIN codes in India, recorded 15.69 million monthly transactions, and processed more than 200,000 loan applications daily.
• As of June 30, 2026, Moneyview had integrations with 48 Financial Partners for its financial product offerings and 22 partners for its personal loan product. Its NBFC subsidiary also had relationships with 50 debt partners, including 17 banks, along with more than 100 debt security holders.
• The company operates as a lending service provider for its personal loan offering and facilitates loans through partner regulated entities. As of June 30, 2026, its personal loan program had Managed AUM of Rs 22,520.17 crore, with its NBFC subsidiary accounting for 25.12% of the total.
• The revenue from operations and profit after tax increased consistently in FY24, FY25, and FY26, respectively. Revenue from operations went from Rs 1,342.37 crore to Rs 2,339.15 crore and Rs 3,351.16 crore during the said period. PAT went from Rs 171.15 crore to Rs 240.27 crore and Rs 242.70 crore during the same period.

Risks

• The top 10 Financial Partners contributed Rs 406.20 crore (39.02%), Rs 268.12 crore (38.69%), Rs 1,251.98 crore (37.36%), Rs 1,095.10 crore (46.82%), and Rs 762.20 crore (56.78%) to the company’s revenue from operations in the three months ended June 30, 2026 and 2025, and FY26, FY25, and FY24, respectively. Any failure to maintain relationships with these Financial Partners, replace them in a timely or cost-effective manner, or any decision by them to work with competitors or develop their own servicing capabilities could adversely affect the company’s business, financial condition, cash flows, results of operations, and prospects.
• The company paid a one-time performance-based incentive of Rs 160.00 crore to its Managing Director and Chief Executive Officer in March 2026, which increased expenses and reduced its restated profit for FY26 by Rs 119.73 crore, representing 30.13% of restated profit before exceptional items, net of tax. As of June 30, 2026, the company had 798 full-time employees, while employee benefits expense increased to Rs 93.38 crore for the three months ended June 30, 2026, from Rs 61.19 crore in the corresponding period, and to Rs 281.94 crore in FY26 from Rs 222.46 crore in FY25. If the company is unable to attract, retain, and motivate key personnel, manage hiring and compensation costs, or integrate new hires, it could adversely affect the company’s business, financial condition, and cash flows.
• Impairment of financial instruments increased from Rs 252.72 crore in FY24 to Rs 667.73 crore in FY25 and Rs 983.53 crore in FY26. Impairment of financial instruments as a percentage of Average Managed AUM increased from 2.46% in FY24 to 4.51% in FY25 and 5.16% in FY26, while default loss guarantee (DLG) expense increased from Rs 131.20 crore in FY24 to Rs 321.69 crore in FY25 and Rs 451.03 crore in FY26. As of June 30, 2026, DLG outstanding was Rs 1,060.78 crore, representing 43.92% of net worth. Any increase in borrower defaults under DLG arrangements or in the Portfolio Loans of its material subsidiary Whizdm Finance Pvt Ltd (WFPL) could increase impairment loss allowances, write-offs, and DLG expenses, hurting the company’s business, finances, results of operations, and cash flows.
• The company operates under regulatory frameworks applicable to digital lending, insurance distribution, UPI payments, and NBFCs, and may face additional compliance requirements as it introduces new products, expands into new markets, and enters into arrangements with third parties. WFPL has received RBI observations in the past regarding delays in regulatory filings, balance sheet liability mismatches, KYC backlogs, and, for FY25, deficiencies relating to outsourced vendors, customer complaints, incident management, interest rate and credit policy, re-KYC, loan documents, customer loan journeys, and reconciliation of customer funds. Any changes in applicable regulations, additional compliance requirements, regulatory observations, penalties or restrictions could increase compliance costs, require changes to technology and operating processes, constrain operational flexibility and adversely affect the company’s business, prospects, financial condition and results of operations.
• The company reported negative cash flows from operating activities of Rs 950.90 crore in FY26, Rs 1,420.71 crore in FY25 and Rs 1,632.74 crore in FY24, as well as Rs 542.64 crore for the three months ended June 30, 2025. This was primarily due to increases in loans of Rs 2,030.40 crore in FY26, Rs 2,111.60 crore in FY25, Rs 1,703.58 crore in FY24 and Rs 671.69 crore for the three months ended June 30, 2025, which are classified as negative working capital movements, while the corresponding borrowings are reflected under financing activities. The company expects to continue incurring negative cash flows as Portfolio Loans increase, and any inability to generate sufficient cash to service borrowings or meet liquidity requirements could adversely affect its business and financial condition.
• The company derived 56.68%, 63.56%, and 75.64% of its total revenue from operations from fees and commission income in FY26, FY25, and FY24, respectively. Fees and commission income was Rs 1,899.45 crore, Rs 1,486.80 crore, and Rs 1,015.38 crore during these periods, respectively. Any decline in the volume of products facilitated through Financial Partners or in the fees and commission rates charged to them could adversely affect the company’s business, financial condition, cash flows, results of operations, and prospects.
• As of June 30, 2026, the company had trade receivables of Rs 508.41 crore. Any delay or failure in collecting these receivables could adversely affect the company’s liquidity, cash flows, and financial condition.
• As of June 30, 2026, the company had financial indebtedness of Rs 5,484.76 crore. Failure to service or repay these borrowings, or inability to obtain financing on favourable terms, could adversely affect the company’s business, liquidity and financial condition.

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