Highlights
| Issue Size – 32,10,82,435 shares | Issue Open/Close – 24 Sep / 28 Sep, 2026 |
| Price Band (Rs.) 32 – 34 | Issue Size (Rs.) – 10,917 mn |
| Face Value (Rs) 1 | Lot Size (shares) – 441 |
Moneyview Limited (MVL) incorporated in 2014, is a consumer-focused, digital only, credit-led financial services platform for Middle India customers providing access to full suite of financial products through a network of FPs, including its NBFC subsidiary, on its mobile application. It operates as a two-sided financial marketplace connecting users seeking financial products with banks, NBFCs, insurers and other financial institutions.
MVL’s offerings are structured around four core categories – (i) Borrow – Personal Loans, Earned Wage Access (EWA), Secured Loans and Credit Cards; (ii) Invest – Digital Gold and FD Marketplace; (iii) Protect – General and Auto Insurance and (iv) Transact – UPI and Bill Payments. Alongside, offers ancillary tools such as Credit Score Tracker and Money Manager.
MVL has built a pan-India digital footprint, with 140.28 mn registered users, including 11.90 mn monetized users, and coverage across 99.04 pct of India’s PIN codes. Its technology-led, low-touch operating model supports 15.69 mn monthly transactions and the processing of 200,000 loan applications daily, enabling it to manage large-scale user activity with minimal human intervention.
Out of the total proceeds of Rs. 10,917 mn, Rs. 3,250 mn would go towards investment to drive growth in loan disbursals under default loss guarantee (DLG) arrangements, Rs. 2,500 mn would go towards investment in subsidiary for the purpose of augmenting its capital base, and Rs. 1,750 mn would go towards funding general corporate purposes. Additionally, Rs. 3,417 mn would go towards promoter and investor selling shareholders of the company.
Key Highlights
- The number of middle-income households in India stands at 187 mn accounting for 54 pct of total households, and is expected to grow to 217 mn by FY31 with 57 pct share. Tier 2+ cities are set to drive the bulk of this expansion, contributing nearly 65-70 pct of all new middle-income households through FY31. Whereas, Personal loan sanctions stood at 14.8 trillion in FY26, and is projected to grow at 18-20 pct to reach to Rs. 33-36 trillion. Of these, digitally sanctioned loans accounts for 15 pct further expected to reach 20-21 pct by FY31 at a CAGR of 26-27 pct.
- Personal loans are MVL’s flagship offering, providing instant, fully digital loans of up to Rs. 1 mn with tenures of up to 60 months, personalized through its in-house AI/ML-based risk and user segmentation models. As an LSP, MVL partners with 22 regulated entities and provides end-to-end credit infrastructure across user acquisition, evaluation, onboarding and servicing. The platform currently services 6.61 mn users with Rs. 225.2 bn in outstanding personal loans.
- MVL facilitates personal loans through two channels – its own NBFC subsidiary, WFPL, and third-party Platform Partners comprising banks and NBFCs. For Platform Partner loans, MVL earns origination and servicing fees for facilitating the customer lifecycle and shares credit losses through DLG of up to 5 pct of the loan portfolio. For own NBFC originated loans, MVL earns origination fees and net interest income, while WFPL bears the associated credit risk.
- MVL’s proprietary AI/ML models, trained on over 100,000 data variables, analyse user-provided, transactional, behavioural and credit data to build granular risk profiles and support personalized lending decisions. Its modular technology architecture and API integrations with financial partners enable automated onboarding and real-time decision-making, while AI-led collections use borrower risk and repayment behaviour to drive differentiated recovery strategies, automated engagement and multilingual voice interactions.
- MVL intends to expand beyond personal loans across lending, savings, insurance and payments to serve users at different stages of their financial lifecycle, through a single platform. Its credit-led offerings act as an entry point to build long-term user relationships, leveraging user financial data and credit behaviour to enable higher-value offerings and cross-sell relevant products as needs evolve.
- MVL’s key growth strategies include (i) To expand the registered user base, (ii) increase user monetization and personal loan volumes, (iii) expand user lifetime value through multi product relationship, (iv) deepen financial partner ecosystem for product and market expansion, (v) invest heavily in AI to improve operational efficiencies and grow operating leverage, and (vi) drive income growth and cost efficiency to further enhance profitability and return on equity.
Key Risk
- Any actual or perceived cybersecurity, data or privacy breach, or changes in data privacy and security regulations, could adversely affect its business operations.
- MVL’s technology-driven user assessment processes may not effectively identify, monitor or mitigate lending risks, adversely impacting its business.
- Higher borrower defaults on loans facilitated through its platform could increase impairment expenses and adversely affect financial performance.
Financial Performance
| Particulars (in Rs. mn) | FY24 | FY25 | FY26 | CAGR | YoY |
| Total Income | 13,892 | 23,785 | 34,043 | 56.54% | 43.13% |
| Profit before exceptional and Tax | 1,983 | 3,192 | 5,340 | 64.10% | 67.29% |
| Adjusted Profit | 1,712 | 2,403 | 2,427 | 19.07% | 1.00% |
| Profit Margin % | 12.32% | 10.10% | 7.13% | ||
| RONW % | 10.65% | 12.52% | 17.85% |
Source: – RHP.
Peer Comparison based on FY26 Financials.
| Particulars (in Rs. mn) | Moneyview | Onemi Tech |
| Total Income | 34,043 | 22,091 |
| Adjusted Profit | 2,427 | 2,815 |
| Profit Margin % | 7.13% | 12.74% |
| RONW % | 17.85% | 20.96% |
Source: – RHP.
Valuation
Moneyview is a a consumer-focused, digital only, credit-led financial services platform for Middle India customers providing access to full suite of financial products through a network of Financial Partners, including their NBFC subsidiary, on their Moneyview mobile application. Since inception, their platform has evolved from a personal finance management application into a multi-product digital financial services platform. At the upper end of the price band of Rs. 34, the issue is priced at an PE of 25x its FY26 post issue capital. The issue appears to be fully priced. However, only high-risk investors may subscribe this issue for listing gains.
Disclaimer: The views shared in blogs are based on personal opinions and do not reflect the company’s views. Investment involves risk, and it is advisable to consult a financial advisor before making any investment through the app. The decision to invest is solely that of the investor, and the company or its communication cannot be held responsible for it.
