Moneyview shares open at Rs 55 on NSE against Rs 34 IPO price

BENGALURU: Moneyview Limited began trading on BSE and NSE on Thursday, 1 October 2026, with shares opening at Rs 55 on the NSE and Rs 55.61 on the BSE, according to exchange trading data. The offer price in the company's Prospectus is Rs 34 per share, the top of the Rs 32 to Rs 34 price band, so the NSE opening price stood about 62 percent above it.

The digital lending and money-management platform, formerly Whizdm Innovations, sold 32,10,82,435 shares in the offer. That is a fresh issue of 22,05,88,235 shares worth Rs 750 crore and an offer for sale of 10,04,94,200 shares, for a total of Rs 10,916.80 million, or about Rs 1,091.7 crore. Bidding ran from 24 to 28 September.

Who sold shares

The offer for sale was spread across founders and early investors. Promoters Puneet Agarwal and Sanjay Aggarwal each offered up to 1,35,48,300 shares. Accel India IV (Mauritius) offered up to 1,63,77,500, Internet Fund III up to 1,53,56,000, Ribbit Capital up to 1,13,56,900 and Crimson Winter up to 1,00,00,000. Accel Growth IV Holdings, NLI Strategic Venture Investment, TI JPNIN India Holdco, DI Investment LLC and Chitra Agarwal sold smaller blocks. Moneyview says it receives no proceeds from the offer for sale.

Axis Capital, BofA Securities India, IIFL Capital Services and Kotak Mahindra Capital Company managed the issue. At the Rs 34 cap price, the post-offer market capitalisation works out to Rs 59,847.86 million, about Rs 5,985 crore, according to the company's price band advertisement. The same advertisement put the price to earnings ratio on diluted EPS for fiscal 2026 at 21.66 times at the upper end of the band, against an industry peer average of 82.41 times that the company cited.

What the fresh money is for

Moneyview says net proceeds from the fresh issue will go to three things: funding growth in loans disbursed under default loss guarantee arrangements, investing in its material subsidiary Whizdm Finance Private Limited to strengthen its capital base, and general corporate purposes. Under a default loss guarantee, the Prospectus explains, Moneyview as a lending service provider covers up to 5 percent of the loan portfolio's credit losses for the bank or NBFC that actually lends, using fixed deposits or bank guarantees.

Numbers from the offer documents

Registered users rose from 83.27 million on 31 March 2024 to 134.14 million on 31 March 2026, and stood at 140.28 million on 30 June 2026. Monetized users, meaning those who have used at least one revenue-generating product, numbered 11.90 million, or 8.48 percent of registered users. Total income was Rs 34,042.74 million in fiscal 2026 and Rs 10,650.92 million in the quarter ended 30 June 2026, against Rs 7,029.16 million in the same quarter a year earlier.

The documents also point to dependence on partners. Moneyview's top ten financial partners contributed 39.02 percent of revenue from operations in the June 2026 quarter and 37.36 percent in fiscal 2026. Impairment of financial instruments was 24.54 percent of total income in the June quarter, compared with 28.51 percent a year earlier.

A strong first day does not settle those questions. The Prospectus itself says the offer price should not be read as an indication of where the shares will trade after listing. This report is not investment advice.