Moneyview IPO 2026: From Digital Lending to a ₹1,092 Cr Public Listing

Moneyview started with a simple proposition: make borrowing easier through a digital platform.

More than a decade later, the company has expanded into a broader financial services platform offering personal loans, credit cards, insurance, digital gold, fixed deposits, UPI and other financial products.

Now, Moneyview is heading to the secondary markets with an IPO of ₹1,091.68 cr.

But the story is not just about its growing user base. Moneyview's total income grew sharply in FY26, while reported PAT remained almost flat. At the same time, lending continues to be its core business, bringing credit risk and loan performance into focus.

So, what does the RHP reveal about Moneyview's business, financials and key risks?

Let's take a closer look. 

At the upper price band of ₹34, the IPO implies a market capitalisation of approximately ₹5,985 crore.

The IPO combines a ₹750 crore fresh issue with an Offer for Sale of up to ₹341.68 cr. The fresh capital will be used primarily to expand lending and strengthen Whizdm Finance Private Limited. 

Moneyview was incorporated in 2014 and initially focused on digital lending. It began offering personal loans through lending partners in FY17 and started on-balance sheet lending through its subsidiary, Whizdm Finance Private Limited (WFPL), in FY20.

Today, its offerings span four broad categories:

• Borrow: Personal loans, earned wage access, home loans/LAP and credit cards
• Save & Invest: Digital gold and fixed deposits
• Protect: General and motor insurance
• Transact: UPI and bill payments

As of June 30, 2026, Moneyview had 48 financial partners, including 22 regulated entities for personal loans.

Its managed AUM stood at approximately ₹22,520 crore, while registered users reached 14.03 crore and monetised users stood at around 1.19 crore.

The company has evolved from a lending app into a broader digital financial services platform, although lending remains central to its business. 

Moneyview's revenue has grown sharply over the past two years but reported profit growth has been much slower. 

Financial Performance: Growing fast, but read the fine print

Moneyview is growing quickly. Revenue from operations rose from ₹1,342 crore in FY24 to ₹3,351 crore in FY26, a compounded annual growth rate of about 58%. The momentum has continued: Q1 FY27 revenue was ₹1,041 crore, up 50% from ₹693 crore a year earlier.

Profit looks flat at first glance, at ₹240 crore in FY25 and ₹243 crore in FY26. But FY26 included a one-time exceptional loss of ₹207 crore before tax (₹155 crore after tax). Excluding it, FY26 profit was ₹397 crore, up about 65%. Q1 FY27 profit was ₹174 crore, more than 2.5 times the ₹67 crore of Q1 FY26. 

The RHP compares Moneyview with five listed companies. Only one is a true like-for-like peer: Onemi (Kissht), another digital consumer lender. Bajaj Finance and SBI Cards are large, established lenders. PB Fintech (Policybazaar) and Paytm are platform businesses with thin profits, so their P/E ratios aren't a useful benchmark.

What this tells us: Moneyview's return on net worth of 17.9% matches Bajaj Finance and is close to Kissht. It is also the largest digital lender in its group by loan book, at ₹22,520 crore of managed AUM as of June 2026. Yet on adjusted earnings it is priced below Kissht and well below the large NBFCs. 

At the upper price band of ₹34, Moneyview's implied market capitalisation is around ₹5,985 crore.

The RHP reports FY26 diluted EPS of ₹1.57, which implies a P/E of approximately 21.7x at the upper price band.

However, this EPS is based on reported profit after exceptional items. FY26 reported PAT was ₹242.71 crore, while profit after tax before exceptional items was ₹397.34 crore.

Moneyview's FY26 Return on Net Worth stood at 17.85%, compared with 12.52% in FY25 and 10.65% in FY24.

The RHP compares Moneyview with OnEMI Technology Solutions, PB Fintech, One97 Communications, Bajaj Finance and SBI Cards. However, differences in their business models, scale and lending exposure mean their valuation multiples are not directly comparable. 

Moneyview's registered users increased from 8.33 crore in FY24 to 13.41 crore in FY26, reaching 14.03 crore by June 2026.

Monetised users stood at around 1.19 crore, while the AUM increased from 42.08% in FY24 to 60.86% in FY26, reaching 62.70% by June 2026.

Personal loan disbursals also increased from approximately ₹17,621 crore in FY25 to ₹23,099 crore in FY26, a growth of around 31%.

There are some positive credit indicators. Annualized losses on loans facilitated through the platform declined from 7.93% in FY24 to 6.95% in FY26 and 6.90% in Q1 FY27.

However, WFPL's gross Stage 3 ratio increased to 2.74% as of March 31, 2026, compared with 1.88% a year earlier.

This makes asset quality, credit losses and loan performance important metrics to monitor alongside user and revenue growth. 

The fresh issue proceeds are largely linked to expanding the lending business. 

Moneyview plans to use ₹325 crore to increase loan disbursals under Default Loss Guarantee (DLG) arrangements and ₹250 crore to strengthen the capital base of WFPL.

As of June 30, 2026, Moneyview had ₹1,060.78 crore of DLG outstanding.

DLG can support lending growth, but it also creates financial exposure linked to the performance of the underlying loan portfolio. 

Moneyview's IPO has also been active in the unofficial grey market ahead of the issue.

Recent tracking indicated a GMP of around ₹11, implying an indicative price of approximately ₹45 against the upper issue price of ₹34.

However, GMP can change quickly and varies across sources. It is unofficial and unregulated and should not be treated as a guaranteed indication of the listing price. 

Disclaimer: Grey Market Premium (GMP) is not regulated or recommended by the stock exchanges or SEBI. ArihantPlus does not endorse or facilitate trading in the grey market. Investors are advised to conduct their own research or consult an expert before making any investment decisions. 

• Credit Risk - Moneyview remains closely linked to consumer lending. Any deterioration in borrower repayment behaviour could increase credit losses.

   

• DLG Exposure - The company's lending growth involves DLG arrangements, creating additional exposure to underlying loan performance.

   

• Regulatory Risk - Changes in RBI or other financial sector regulations could affect Moneyview's lending model and partnerships.

   

• Competition - The company competes with banks, NBFCs and other fintech platforms across lending and financial services.

   

• Partner Dependence -Moneyview relies on financial partners for lending and other products. Changes in these relationships could affect the business growth.

   

• Technology Risk - As a digital-first platform, cybersecurity incidents, technology failures or service disruptions could affect operations and customer trust. 

The valuation is attractive relative to peers and growth. The investment case depends on one thing: whether Moneyview can keep growing without loan losses rising. If credit costs stay near Q1 FY27 levels, today's price could look cheap in hindsight. If bad loans rise in an economic slowdown, unsecured lenders are usually the first to suffer.  

The other key factor is lending exposure. With loan disbursals, DLG arrangements and credit performance playing a major role in the business, asset quality and sustainable earnings growth will remain important metrics to track.

The Moneyview IPO story is therefore not just about how quickly the platform can grow. It is also if growth can translate into consistent and sustainable profitability. 

1. When will the Moneyview IPO open?

The IPO will open on September 24, 2026 and close on September 28, 2026.

2. What is the Moneyview IPO price band?

The price band is ₹32–₹34 per share.

3. What is the minimum investment?

The lot size is 441 shares, requiring a minimum investment of ₹14,994 at the upper price band.

4. How large is the Moneyview IPO?

The IPO size is up to ₹1,091.68 crore, including a ₹750 cr fresh issue and an OFS of up to 341 cr.

5. What are Moneyview's FY26 financials?

Moneyview reported ₹3,404.27 crore total income and ₹242.71 crore PAT in FY26.

6. What are the key risks?

Key risks include credit risk, DLG exposure, regulatory changes, competition, partner dependence and technology risks.

7. Where will Moneyview shares be listed?

The shares are expected to list on NSE and BSE, subject to completion of the IPO process and applicable approvals.