Moneyview’s red herring prospectus filed on September 20 sets the scene for a ₹1,091.61 crore raise, with the price band fixed at ₹32-34 per share. The digital lending platform, backed by heavyweights like Accel and Tiger Global, is targeting a market capitalisation of ₹5,984.79 crore at the upper end of the band. Investors can bid for a minimum of 441 shares, with the anchor investor portion opening on September 23 and the public issue running until September 28.
The numbers driving this valuation are stark. In the quarter ended June 2026, Moneyview’s net profit surged 158.8% year-on-year to ₹173.8 crore, up from ₹67.15 crore in the same period last year. Revenue from operations climbed 50.2% to ₹1,041.1 crore. For the full fiscal year 2026, however, profit growth was modest at 1%, reaching ₹242.7 crore, while revenue expanded 43.3% to ₹3,351.2 crore. This divergence suggests a strong acceleration in profitability in the most recent quarter.
The IPO structure includes a fresh issue of ₹750 crore and an offer-for-sale (OFS) of up to 10.04 crore shares by promoters and existing investors. Founders Puneet Agarwal and Sanjay Aggarwal, along with Accel, Tiger Global, Ribbit Capital, DI Investment, and Crimson Winter, are part of the OFS. The issue size was recently reduced, and 50% of the total is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 35% for retail investors. Axis Capital, BofA Securities India, IIFL Capital Services, and Kotak Mahindra Capital Company are the merchant bankers managing the deal.
Moneyview’s business model has evolved significantly since launching personal loans in FY17. The company now operates with 14.03 crore registered users and 48 financial partners as of June 2026. Its subsidiary, Whizdm Finance, handles on-balance-sheet lending, and the platform has expanded into insurance, credit cards, digital gold, payments, and earned wage access. The company plans to use ₹325 crore from the fresh issue proceeds to grow loan disbursals under default loss guarantee arrangements, with another ₹250 crore injected into Whizdm Finance to strengthen its capital base.
Shareholder structure sees Accel as the largest investor with a 21.89% stake, followed by Tiger Global Group with 13.79%. Promoter Sanjay Aggarwal holds 10.33%, while Ribbit Capital and Puneet Agarwal hold 10.2% and 8.66%, respectively. Allotment is expected to be finalised on September 29, with trading commencing on October 1. The market will now watch how the 159% profit surge translates into sustained performance post-listing.