markets · Markets / IPOs / Fintech
Moneyview IPO: ₹32–34 band, ₹1,091.61 Cr issue opens 24 Sep
Accel/Tiger/Ribbit-backed Moneyview sets ₹32–34 band; IPO opens 24 Sep, closes 28 Sep; ~₹1,091.61 Cr total (₹750 Cr fresh + OFS up to 10.04 Cr shares); implied mcap ~₹5,984.79 Cr at cap; list date expected 1 Oct — per company RHP dated 20 Sep.
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Calendar: Digital lending platform Moneyview opens its IPO for public subscription on Wednesday, 24 September 2026, and closes on 28 September, per the company red herring prospectus filed 20 Sep.
Hard prints (RHP):
- Price band ₹32–34 per equity share
- Issue aiming to raise ₹1,091.61 crore
- Anchor window 23 Sep
- Minimum bid 441 shares (and multiples)
- Implied market capitalisation at the upper band: ₹5,984.79 crore
- Allotment expected 29 Sep; trading expected to begin 1 Oct
Structure: Fresh issue of ₹750 crore plus an offer for sale of up to 10.04 crore equity shares by promoters and existing investors. Reserved: 50% QIB · 15% NII · 35% retail.
Takeaway: This is the next big fintech primary calendar after NSE’s listing week — wait for the RHP/stock-exchange notices for any size or date slips; do not treat grey-market chatter as a print.
Analysis
Who is selling / who owns what (as of 20 Sep, RHP)
The RHP names sellers in the OFS as founders/promoters Puneet Agarwal and Sanjay Aggarwal, plus Accel, Tiger Global Management, Ribbit Capital, DI Investment, and Crimson Winter.
Shareholding colour in the same wrap (as of 20 Sep): Accel 21.89% (largest), Tiger Global Group via Internet Fund III 13.79%, Sanjay Aggarwal 10.33%, Ribbit Capital 10.2%, Puneet Agarwal 8.66%.
What the company does (RHP)
Moneyview connects users with banks, NBFCs, insurers and other financial institutions. As of June 2026: 14.03 crore registered users and 48 financial partners. Personal loans with partners from FY17; on-balance-sheet lending via material subsidiary Whizdm Finance from FY20; later expansion into insurance, credit cards, digital gold, payments and earned wage access.
Use of proceeds (fresh issue)
- ₹325 crore — growth in loan disbursals under default-loss-guarantee arrangements
- ₹250 crore — strengthen Whizdm Finance’s capital base
- Balance — general corporate purposes
Earnings colour (label as company RHP prints — not Capital Chronicle estimates)
| Period | Revenue from operations | Profit |
|---|---|---|
| June 2026 quarter | ₹1,041.1 Cr (+50.2% YoY) | ₹173.8 Cr (+158.8% YoY) |
| FY26 | ₹3,351.2 Cr (+43.3%) | ₹242.7 Cr (+1%) |
Book-runners
Axis Capital, BofA Securities India, IIFL Capital Services, Kotak Mahindra Capital Company.
Soft spots (do not flatten)
- Issue size was recently reduced vs an earlier plan — always re-check the live RHP / exchange notice for the final number.
- Opening day (24 Sep) is the same calendar day as the scheduled NSE BSE listing — primary-market bandwidth will be crowded; that is process colour, not a price forecast.
- No GMP invented here; no allotment prophecy; no politics.
What to watch
- Anchor book print on/after 23 Sep
- Day-1 / Day-N subscription tables from BSE/NSE
- Fresh-issue vs OFS mix if any corrigendum lands before open
Sources
- Company RHP dated 20 September 2026 (band, size, calendar, shareholding, proceeds, P&L)
- Exchange IPO calendar / notices for open–close and listing dates
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