Moneyview Limited IPO Date, Price, GMP, Review, Details

IPO Review Note: Moneyview LimitedIPO Review NoteIPO Review Note: : MoneyviewMoneyview Limited Limited

Moneyview Limited runs a digital-only lending platform for what it calls Middle India. Users borrow through its mobile app with no paperwork and no branch visit. The firm was incorporated in August 2014 as Whizdm Innovations and is based in Bangalore. Its promoters are Puneet Agarwal, Sanjay Aggarwal and Sushma Abburi. Personal loans remain the core product. Since August 2024 it has added credit cards, earned wage access, home loans, loans against property, insurance, digital gold, UPI and bill payments.MoneyviewMoneyview Limited runs a digital-only lending platform for what it calls Middle India. Users borrow through its mobile app with no paperwork and no branch visit. The Limited runs a digital-only lending platform for what it calls Middle India. Users borrow through its mobile app with no paperwork and no branch visit. The firm was incorporated in August 2014firm was incorporated in August 2014 as as WhizdmWhizdm Innovations Innovations and is and is based in Bangalorebased in Bangalore. Its promoters are . Its promoters are PuneetPuneet Agarwal, Sanjay Aggarwal and Agarwal, Sanjay Aggarwal and SushmaSushma AbburiAbburi. Personal loans remain the core product. . Personal loans remain the core product. Since August 2024 it has added credit cards, earned wage access, home loans, loans against property, insurance, digital gold, Since August 2024 it has added credit cards, earned wage access, home loans, loans against property, insurance, digital gold, UPIUPI and bill payments and bill payments..

The firm is a Lending Service Provider, not a lender in the usual sense. It sources the borrower, assesses the risk and services the loan. The money then comes from a partner bank or NBFC, or from its own NBFC, Whizdm Finance. It works with 48 financial partners in all, of whom 22 funded personal loans as on June 30, 2026. That NBFC funded only 25.12% of managed loans as on June 30, 2026. On loans funded by partners, the firm carries part of the credit risk through a default loss guarantee of up to 5% of the pool. So it earns a fee without committing much of its own capital.The firm is a Lending Service Provider, not a lender in the usual sense. It sources the borrower, assesses the risk and services the loan. The money then comes from a partner bank or NBFC, or from its own NBFC, The firm is a Lending Service Provider, not a lender in the usual sense. It sources the borrower, assesses the risk and services the loan. The money then comes from a partner bank or NBFC, or from its own NBFC, WhizdmWhizdm Finance. It works with 48 financial partners in all, of whom 22 funded personal loans as on June 30, 2026. That Finance. It works with 48 financial partners in all, of whom 22 funded personal loans as on June 30, 2026. That NBFC funded only 25.12% of managed loans as on June 30, 2026NBFC funded only 25.12% of managed loans as on June 30, 2026. On loans funded by partners, the firm carries part of the credit risk through a default loss guarantee of up to 5% of the pool. So it earns a fee without committing much of its own capital.. On loans funded by partners, the firm carries part of the credit risk through a default loss guarantee of up to 5% of the pool. So it earns a fee without committing much of its own capital.

Scale as on June 30, 2026 was 140.28 million registered users and 11.90 million who had taken a product. Managed loans stood at ₹ 22,520.17 Crore. The app served 99.04% of Indian pin codes without any branches, and handled close to 200,000 loan applications a day. Total income for the Financial Year 2026 was ₹ 3,404.27 Crore. The firm had 798 employees on June 30, 2026, of whom more than half worked in technology and data roles.Scale as on Scale as on June 30, 2026 was 140.28 million registered usersJune 30, 2026 was 140.28 million registered users and and 11.90 million who had 11.90 million who had takentaken a product a product. . Managed loans stood at ₹ 22,520.17 CroreManaged loans stood at ₹ 22,520.17 Crore. The app served . The app served 99.04% of Indian pin codes without any branches99.04% of Indian pin codes without any branches, and handled close to 200,000 loan applications a day. Total income for the Financial Year 2026 was ₹ 3,404.27 Crore. The firm had 798 employees on June 30, 2026, of whom more than half worked in technology and data roles., and handled close to 200,000 loan applications a day. Total income for the Financial Year 2026 was ₹ 3,404.27 Crore. The firm had 798 employees on June 30, 2026, of whom more than half worked in technology and data roles.

IPO Details:IPO Details:IPO Details:

Objects of the Offer:Objects of the Offer:Objects of the Offer:

Key Strengths and OpportunitiesKey Strengths and OpportunitiesKey Strengths and Opportunities

• A large user base that keeps coming back1. A large user base that keeps coming back1. A large user base that keeps coming back

Registered users grew from 83.27 million on March 31, 2024 to 134.14 million on March 31, 2026, a CAGR of 26.92%. The count was 140.28 million on June 30, 2026. More of them are also paying customers. Monetized users rose from 5.55% of registered users on March 31, 2024 to 8.01% on March 31, 2026, and 8.48% on June 30, 2026. Borrowers also come back for more, with repeat loans making up 62.70% of managed loans as on June 30, 2026, against 42.08% in the Financial Year 2024. That loyalty cuts the cost of finding new business. Marketing and sourcing cost fell to 1.90% of loan disbursals in the Financial Year 2026, from 2.92% two years earlier, even as disbursals grew 31.08%.Registered users grew from 83.27 million on March 31, 2024 to 134.14 million on March 31, 2026, a CAGR of 26.92%. The count was 140.28 million on June 30, 2026. More of them are also paying customers. Monetized users rose from 5.55% of registered users on March 31, 2024 to 8.01% on March 31, 2026, and 8.48% on June 30, 2026. Borrowers also come back for more, with repeat loans making up 62.70% of managed loans as on June 30, 2026, against 42.08% in the Financial Year 2024. That loyalty cuts the cost of finding new business. Marketing and sourcing cost fell to 1.90% of loan disbursals in the Financial Year 2026, from 2.92% two years earlier, even as disbursals grew 31.08%.Registered users grew from 83.27 million on March 31, 2024 to 134.14 million on March 31, 2026, a CAGR of 26.92%. The count was 140.28 million on June 30, 2026. More of them are also paying customers. Monetized users rose from 5.55% of registered users on March 31, 2024 to 8.01% on March 31, 2026, and 8.48% on June 30, 2026. Borrowers also come back for more, with repeat loans making up 62.70% of managed loans as on June 30, 2026, against 42.08% in the Financial Year 2024. That loyalty cuts the cost of finding new business. Marketing and sourcing cost fell to 1.90% of loan disbursals in the Financial Year 2026, from 2.92% two years earlier, even as disbursals grew 31.08%.

• Risk scoring built on data, not just bureau scores2. Risk scoring built on data, not just bureau scores2. Risk scoring built on data, not just bureau scores

In-house AI models are trained on over 100,000 data variables. They read bank statements, app usage, repayment history and bureau data together. Within one narrow bureau band of 725 to 750, the model finds up to a seven-fold spread in actual risk. That lets partners price and size each loan more finely. The results show up in losses, which fell from 7.93% in the Financial Year 2024 to 7.07% and then 6.95%. Over the same span industry losses rose from 7.80% to 8.29%, per the Redseer Report. Loans split into two types. Long tenure loans average ₹ 96,000 over 23 months and are 71.72% of managed loans; low grow loans average ₹ 20,000 over 8 months.In-house AI models are trained on over 100,000 data variables. They read bank statements, app usage, In-house AI models are trained on over 100,000 data variables. They read bank statements, app usage, repaymentrepayment history and bureau data together. Within one narrow bureau band of 725 to 750, the model finds up to a seven-fold spread in actual risk. That lets partners price and size each loan more finely. The results show up in losses, which fell from 7.93% in the Financial Year 2024 to 7.07% and then 6.95%. Over the same span industry losses rose from 7.80% to 8.29%, per the history and bureau data together. Within one narrow bureau band of 725 to 750, the model finds up to a seven-fold spread in actual risk. That lets partners price and size each loan more finely. The results show up in losses, which fell from 7.93% in the Financial Year 2024 to 7.07% and then 6.95%. Over the same span industry losses rose from 7.80% to 8.29%, per the RedseerRedseer Report. Loans split into two types. Long tenure loans average ₹ 96,000 over 23 months and are 71.72% of managed loans; low grow loans average ₹ 20,000 over 8 months. Report. Loans split into two types. Long tenure loans average ₹ 96,000 over 23 months and are 71.72% of managed loans; low grow loans average ₹ 20,000 over 8 months.

• Technology that lets the business grow without adding cost3. Technology that lets the business grow without adding cost3. Technology that lets the business grow without adding cost

The platform has been built in house over 11 years. It served 99.04% of Indian pin codes on June 30, 2026 and handled 15.69 million transactions in that month. It processes over 200,000 loan applications a day. A loan offer usually appears within 5 seconds, and about 90% of payouts happen within minutes of the borrower accepting. The cost gain is clear, as operating expenses fell from 56.42% of total income in the Financial Year 2024 to 41.43%, then 34.84%, and 34.14% in the June 2026 quarter. AI also runs collections. The bounce rate fell from 7.92% in the Financial Year 2024 to 6.37% in the Financial Year 2026, and the collection roll rate from 2.23% to 1.41% over the same two years.The platform has been built in house over 11 years. It served 99.04% of Indian pin codes on June 30, 2026 and handled 15.69 million transactions in that month. It processes over 200,000 loan applications a day. A loan offer usually appears within 5 seconds, and about 90% of payouts happen within minutes of the borrower accepting. The cost gain is clear, as operating The platform has been built in house over 11 years. It served 99.04% of Indian pin codes on June 30, 2026 and handled 15.69 million transactions in that month. It processes over 200,000 loan applications a day. A loan offer usually appears within 5 seconds, and about 90% of payouts happen within minutes of the borrower accepting. The cost gain is clear, as operating expenses fell from 56.42% of total income in the Financial Year 2024 to 41.43%, then 34.84%, and 34.14% in the June 2026 quarter. AI also runs collections. The expenses fell from 56.42% of total income in the Financial Year 2024 to 41.43%, then 34.84%, and 34.14% in the June 2026 quarter. AI also runs collections. The bounce rate fell from 7.92% in the Financial Year 2024 to 6.37% in the Financial Year 2026bounce rate fell from 7.92% in the Financial Year 2024 to 6.37% in the Financial Year 2026, and the collection roll rate from 2.23% to 1.41% over the same two years., and the collection roll rate from 2.23% to 1.41% over the same two years.

• A capital-light model with many funding partners4. A capital-light model with many funding partners4. A capital-light model with many funding partners

The firm works with 48 financial partners in all, and 22 of them fund personal loans. Its own NBFC held just 25.12% of the ₹ 22,520.17 Crore of managed loans on June 30, 2026. The remainder sits on partner balance sheets. Partner ties are also lasting: 9 of the 22 have been with the firm over five years. Funding for the NBFC is spread across 50 debt partners, including 17 banks, plus over 100 debt security holders. Because fees rather than capital drive the returns, the model earns more on each rupee of equity. For the June 2026 quarter, profit before exceptional items and tax was 4.24% of average managed loans, and annualised return on equity was 29.93%.The firm works with 48 financial partners in all, and 22 of them fund personal loans. Its own NBFC held just 25.12% of the ₹ 22,520.17 Crore of managed loans on June 30, 2026. The remainder sits on partner balance sheets. Partner ties are also lasting: 9 of the 22 have been with the firm over five years. Funding for the NBFC is spread across 50 debt partners, including 17 banks, plus over 100 debt security holders. Because fees rather than capital drive the returns, the model earns more on each rupee of equity. For the June 2026 quarter, profit before exceptional items and tax was 4.24% of average managed loans, and The firm works with 48 financial partners in all, and 22 of them fund personal loans. Its own NBFC held just 25.12% of the ₹ 22,520.17 Crore of managed loans on June 30, 2026. The remainder sits on partner balance sheets. Partner ties are also lasting: 9 of the 22 have been with the firm over five years. Funding for the NBFC is spread across 50 debt partners, including 17 banks, plus over 100 debt security holders. Because fees rather than capital drive the returns, the model earns more on each rupee of equity. For the June 2026 quarter, profit before exceptional items and tax was 4.24% of average managed loans, and annualisedannualised return on equity was 29.93%. return on equity was 29.93%.

• Growth and profit have both improved5. Growth and profit have both improved5. Growth and profit have both improved

Loan disbursals grew 31.08% between the Financial Years 2025 and 2026. Total income rose 43.13% to ₹ 3,404.27 Crore in the Financial Year 2026 from ₹ 2,378.53 Crore. Profit before exceptional items and tax rose faster still, up 67.29% to ₹ 534.01 Crore from ₹ 319.21 Crore. So income is growing and each rupee of it is worth more than before. The firm puts this down to better monetisation of users, steadier loan performance and tighter operating costs.Loan disbursals grew 31.08% between the Financial Years 2025 and 2026. Total income rose 43.13% to ₹ 3,404.27 Crore in the Financial Year 2026 from ₹ 2,378.53 Crore. Profit before exceptional items and tax rose faster still, up 67.29% to ₹ 534.01 Crore from ₹ 319.21 Crore. So income is growing and each rupee of it is worth more than before. The firm puts this down to better Loan disbursals grew 31.08% between the Financial Years 2025 and 2026. Total income rose 43.13% to ₹ 3,404.27 Crore in the Financial Year 2026 from ₹ 2,378.53 Crore. Profit before exceptional items and tax rose faster still, up 67.29% to ₹ 534.01 Crore from ₹ 319.21 Crore. So income is growing and each rupee of it is worth more than before. The firm puts this down to better monetisationmonetisation of users, steadier loan performance and tighter operating costs. of users, steadier loan performance and tighter operating costs.

Key RisksKey RisksKey Risks

• Credit costs have risen sharply1. Credit costs have risen sharply1. Credit costs have risen sharply

Impairment of financial instruments rose to ₹ 983.53 Crore in the Financial Year 2026, from ₹ 667.73 Crore and ₹ 252.72 Crore in the two years before. As a share of average managed loans it went from 2.46% to 4.51% and then 5.16%. Impairment now eats 28.89% of total income and 34.27% of total expenses. The prospectus links the rise to more loans sitting on its own NBFC's books. There it carries the whole credit risk. Impairment of financial instruments rose to ₹ 983.53 Crore in the Financial Year 2026, from ₹ 667.73 Crore and ₹ 252.72 Crore in the two years before. As a share of average managed loans it went from 2.46% to 4.51% and then 5.16%. Impairment now eats 28.89% of total income and 34.27% of total expenses. The prospectus links the rise to more loans sitting on its own NBFC's books. There it carries the whole credit risk. Impairment of financial instruments rose to ₹ 983.53 Crore in the Financial Year 2026, from ₹ 667.73 Crore and ₹ 252.72 Crore in the two years before. As a share of average managed loans it went from 2.46% to 4.51% and then 5.16%. Impairment now eats 28.89% of total income and 34.27% of total expenses. The prospectus links the rise to more loans sitting on its own NBFC's books. There it carries the whole credit risk.

• Bad loans have nearly tripled in two years2. Bad loans have nearly tripled in two years2. Bad loans have nearly tripled in two years

Gross Stage 3 loans were 0.94% of total gross loans on March 31, 2024. That rose to 1.88% a year later and 2.74% on March 31, 2026. The figure was 2.72% on June 30, 2026. Net Stage 3 loans went from 0.18% to 0.65% over the same span. All loans on the NBFC's books are unsecured, so there is no collateral to fall back on. Gross Stage 3 loans were 0.94% of total gross loans on March 31, 2024. That rose to 1.88% a year later and 2.74% on March 31, 2026. The figure was 2.72% on June 30, 2026. Net Stage 3 loans went from 0.18% to 0.65% over the same span. All loans on the NBFC's books are unsecured, so there is no collateral to fall bGross Stage 3 loans were 0.94% of total gross loans on March 31, 2024. That rose to 1.88% a year later and 2.74% on March 31, 2026. The figure was 2.72% on June 30, 2026. Net Stage 3 loans went from 0.18% to 0.65% over the same span. All loans on the NBFC's books are unsecured, so there is no collateral to fall back on. ack on.

• A one-time bonus to the chief executive cut the Financial Year 2026 profit33. A one-time bonus to the chief executive cut the Financial Year 2026 profit. A one-time bonus to the chief executive cut the Financial Year 2026 profit

The board and shareholders approved a one-time performance bonus of ₹ 160.00 Crore to the Managing Director and Chief Executive Officer in March 2026. It cut restated profit for that year by ₹ 119.73 Crore net of tax. That is 30.13% of profit before exceptional items. So the Financial Year 2026 profit cannot be compared straight with earlier years.The board and shareholders approved a one-time performance bonus of ₹ 160.00 Crore to the Managing DirecThe board and shareholders approved a one-time performance bonus of ₹ 160.00 Crore to the Managing Director and Chief Executive Officertor and Chief Executive Officer in March 2026. It cut restated profit for that year in March 2026. It cut restated profit for that year by ₹ 119.73 Crore net of tax. That is 30.13% of profit before exceptional items. So the Financial Year 2026 profit cannot be compareby ₹ 119.73 Crore net of tax. That is 30.13% of profit before exceptional items. So the Financial Year 2026 profit cannot be compared straight with earlier years.d straight with earlier years.

• A cyber or data breach could interrupt operations and damage the brand44. A cyber or data breach could interrupt operations and damage the brand. A cyber or data breach could interrupt operations and damage the brand

The firm holds and moves large volumes of user data, and is open to hacking, phishing and similar attacks. Between August 5 and August 7, 2025, ₹ 48.32 Crore was debited without authority from the bank account of the Material Subsidiary, Whizdm Finance. Attackers exploited a gap in the interface with the banking partner. The firm booked a loss of ₹ 34.91 Crore net of tax in the Financial Year 2026. It had recovered ₹ 2.35 Crore by June 30, 2026. It has told the RBI and CERT-In, filed a police report and tightened its controls. [Risk Factor 14]The firm holds and moves large volumes of user data, and is open to hacking, phishing and similar attacks. Between August 5 and August 7, 2025, ₹ 48.32 Crore was debited without authority from the bank account of the Material Subsidiary, The firm holds and moves large volumes of user data, and is open to hacking, phishing and similar attacks. Between August 5 and August 7, 2025, ₹ 48.32 Crore was debited without authority from the bank account of the Material Subsidiary, WhizdmWhizdm Finance. Attackers exploited a gap in the interface with the banking partner. The firm booked a loss of ₹ 34.91 Crore net of tax in the Financial Year 2026. It had recovered ₹ 2.35 Crore by June 30, 2026. It has told the RBI and CERT-In, filed a police report and tightened its controls. [Risk Factor 14] Finance. Attackers exploited a gap in the interface with the banking partner. The firm booked a loss of ₹ 34.91 Crore net of tax in the Financial Year 2026. It had recovered ₹ 2.35 Crore by June 30, 2026. It has told the RBI and CERT-In, filed a police report and tightened its controls. [Risk Factor 14]

Financial Snapshot:Financial Snapshot:Financial Snapshot:

Peer Comparison:Peer Comparison:Peer Comparison:

Valuation:Valuation:Valuation:

ConclusionConclusionConclusion

Moneyview has built a strong digital lending platform with a large and growing user base, improving monetisation and a scalable technology-driven business model. Its capital-light approach, supported by 48 financial partners, helps the company grow its managed loan book without funding the entire portfolio from its own balance sheet. Financial performance has also improved, with FY26 total income growing 43.13% and profit before exceptional items and tax rising 67.29%. Improving operating efficiency, higher repeat loans and lower platform losses are other positives. MoneyviewMoneyview has built a strong digital lending platform with a large and growing user base, improving monetisation and a scalable technology-driven business model. Its capital-light approach, supported by 48 financial partners, helps the company grow its managed loan book without funding the entire portfolio from its own balance sheet. Financial performance has also improved, with FY26 total income growing 43.13% and profit before exceptional items and tax rising 67.29%. Improving operating efficiency, higher repeat loans and lower platform losses are other positives. has built a strong digital lending platform with a large and growing user base, improving monetisation and a scalable technology-driven business model. Its capital-light approach, supported by 48 financial partners, helps the company grow its managed loan book without funding the entire portfolio from its own balance sheet. Financial performance has also improved, with FY26 total income growing 43.13% and profit before exceptional items and tax rising 67.29%. Improving operating efficiency, higher repeat loans and lower platform losses are other positives.

However, the key concern remains asset quality. Gross Stage 3 loans increased from 0.94% in FY24 to 2.74% in FY26, while net Stage 3 loans rose from 0.18% to 0.65%. For a lending-focused business, maintaining credit quality and controlling NPAs is critical for sustainable profitability. Impairment costs have also increased significantly, reaching Rs 983.53 Cr in FY26. However, the key concern remains However, the key concern remains asset qualityasset quality. Gross Stage 3 loans increased from 0.94% in FY24 to 2.74% in FY26, while net Stage 3 loans rose from 0.18% to 0.65%. For a lending-focused business, maintaining credit quality and controlling NPAs is critical for sustainable profitability. Impairment costs have also increased significantly, reaching . Gross Stage 3 loans increased from 0.94% in FY24 to 2.74% in FY26, while net Stage 3 loans rose from 0.18% to 0.65%. For a lending-focused business, maintaining credit quality and controlling NPAs is critical for sustainable profitability. Impairment costs have also increased significantly, reaching RsRs 983.53 Cr in FY26. 983.53 Cr in FY26.

Overall, Moneyview is a good company with a promising business model and improving financial performance. However, rising Stage 3 loans, higher credit costs and increased borrowings warrant monitoring. As of now investors can Subscribe for Listing Gains. Long-term investors can keep the company on their watchlist and track asset quality, credit costs and profitability before taking a long-term investment decision.Overall, Overall, MoneyviewMoneyview is a good company with a promising business model and improving financial performance. However, rising Stage 3 loans, higher credit costs and increased borrowings warrant monitoring. As of now investors can is a good company with a promising business model and improving financial performance. However, rising Stage 3 loans, higher credit costs and increased borrowings warrant monitoring. As of now investors can SubscribeSubscribe for Listing Gains. Long-term investors can keep the company on their for Listing Gains. Long-term investors can keep the company on their watchlistwatchlist and track asset quality, credit costs and profitability before taking a long-term investment decision. and track asset quality, credit costs and profitability before taking a long-term investment decision.