The Moneyview IPO opened for subscription on Thursday, September 24, giving investors a three-day bidding window. The public issue received strong demand from investors on the first day of bidding, with bids received for 33,48,61,002 shares against 23,25,24,175 shares on offer, resulting in an overall subscription of 1.44 times, according to NSE data.

Ahead of the launch, the IPO was seen commanding a 32% premium in the grey market, signalling strong investor interest and indicating a potential listing gain if the current GMP holds.

The Rs 1,091.68 crore Moneyview IPO comprises a fresh issue of 22.06 crore shares aggregating to Rs 750 crore and an offer for sale (OFS) of 10.05 crore shares worth Rs 341.68 crore.

The IPO will open on September 24, 2026, and close on September 28, 2026. The allotment is expected to be finalised on September 29, while the shares are likely to list on both the NSE and BSE on October 1, 2026.

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The price band has been fixed at Rs 32–Rs 34 per share, with a lot size of 441 shares. At the upper price band, retail investors will need to invest a minimum of Rs 14,994 for one lot.

Axis Capital Ltd., BofA Securities India Ltd., IIFL Capital Services Ltd. and Kotak Mahindra Capital Co. Ltd. are the book-running lead managers to the issue, while MUFG Intime India Pvt. Ltd. is the registrar.

Non-Institutional Investors (NIIs) led the demand, with their category subscribed 2.43 times. This was followed by retail investors, who bid for 1.79 times the shares reserved for their category.

Qualified Institutional Buyers (QIBs), meanwhile, placed bids for merely 33,71,445 shares against 6,50,89,575 shares reserved for them.

Moneyview Ltd. plans to use the net IPO proceeds primarily to expand its lending business. Around Rs 325 crore will be deployed towards increasing loan disbursals under Default Loss Guarantee (DLG) arrangements.

Another Rs 250 crore is proposed to be invested in WFPL, the company’s material subsidiary, to strengthen its capital base. The balance will be utilised for general corporate purposes, taking the total planned utilisation to Rs 575 crore.

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According to an Anand Rathi research report, at the upper price band, Moneyview is valued at 24.7x FY26 P/E, 1.79x FY26 P/S, 2.33x FY26 P/B and 2.9x FY26 EV/EBITDA, implying a post-issue market capitalisation of Rs 59,848 million.

The brokerage highlighted user growth, rising product penetration, improving operating efficiency and the company’s capital-light business model as factors supporting its growth outlook. Based on these considerations, Anand Rathi has assigned a “Subscribe – Long Term” rating to the issue.

Investors should note that grey-market premiums are unofficial indicators and can change before listing. The GMP should therefore not be considered a guarantee of the actual listing price or returns.

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Moneyview Ltd. recorded a 43% rise in total income to Rs 3,404 crore in FY26, compared with Rs 2,379 crore in FY25. However, profit growth was comparatively subdued, with profit after tax (PAT) increasing 1% to Rs 243 crore in FY26 from Rs 240 crore in FY25.

Incorporated in 2014, Moneyview Ltd. is an India-based fintech company that provides digital financial services through its mobile platform. Its offerings include personal loans, credit tracking and financial management solutions, with technology and data analytics used to assess creditworthiness and facilitate faster loan approvals.

As of June 30, 2026, the platform had 140.28 million registered users and 48 financial partners, including banks, NBFCs, insurers and other financial institutions.

The company has expanded beyond personal loans into insurance, credit cards, digital gold, payments and earned wage access. Its technology- and AI-led model is designed to provide a largely unassisted customer journey while supporting scalability and cost efficiency.

As of June 30, 2026, more than 50% of Moneyview’s workforce was engaged in technology and data roles. Its total workforce stood at 1,933 employees, comprising 798 permanent employees and 1,135 contract employees.

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