Moneyview Cuts IPO Fresh Issue To ₹750 Crore But Sees More Room To Grow Unsecured Lending

Moneyview Ltd has halved the fresh issue component of its upcoming initial public offering (IPO) to ₹750 crore from the ₹1,500 crore proposed earlier, but the digital lending platform continues to see room to expand its unsecured lending business.

The company is now looking to raise around ₹1,092 crore through the public offer, comprising a ₹750 crore fresh issue and an offer for sale (OFS) of around ₹342 crore. The IPO will open for subscription on September 24 and close on September 28, with the price band fixed at ₹32-34 per share.

At the upper end of the price band, the issue values the company at close to ₹6,000 crore.

The smaller fundraise comes as the lender's profitability and internal cash generation have improved, reducing its immediate need for fresh capital. At the same time, management believes there is further room to grow unsecured lending through its partner-led model.

Chief Executive Officer Puneet Agarwal said the opportunity in unsecured lending remains significant, provided growth is backed by disciplined underwriting and risk management.

Around 75% of the business is currently conducted off the balance sheet through lending partners, while the remaining 25% is originated through its own non-banking financial company. This allows the platform to expand lending without having to deploy its own capital against the entire loan book.

Some of its lending partnerships have also been in place for close to a decade, while originations through several large NBFC partners have continued to increase.

Digital personal loans accounted for at least 15% of overall unsecured personal loan disbursals in FY26, according to the company's offer documents. The segment is projected to grow at a compound annual growth rate of around 27% between FY26 and FY31.

What Has Changed In The Moneyview IPO?

The company has cut the fresh issue to ₹750 crore from the ₹1,500 crore proposed earlier. The offer-for-sale component has also been reduced, with existing shareholders now planning to sell up to 10.04 crore shares, against 13.6 crore shares proposed in the draft prospectus.

The changes take the total IPO size to about ₹1,092 crore. The revision followed discussions with institutional investors during the IPO roadshow. Chief Financial Officer Saurav Goyal said the company received feedback around valuation and investor mix, while management also wanted to bring larger institutional investors onto the shareholder base for the long term.

Stronger cash generation has also played a role in the decision to raise less capital. Revenue from operations rose 50.2% year-on-year to ₹1,041.1 crore in the quarter ended June 2026, while profit after tax increased to ₹173.8 crore from ₹67.15 crore in the corresponding period last year.

Despite the smaller fresh issue, a large part of the money raised will still go towards supporting the lending business.

Around ₹325 crore of the net proceeds is proposed to be used to fund loan disbursals under default loss guarantee arrangements, while ₹250 crore will be invested in lending subsidiary Whizdm Finance to strengthen its capital base. The remaining proceeds will be used for general corporate purposes.

The company's loan disbursals rose to ₹23,099 crore in FY26 and stood at ₹7,152 crore in the first quarter of FY27, up 40% from a year earlier. Assets under management stood at ₹22,520 crore as of June 30, 2026.

Beyond personal loans, the platform has also expanded into other financial products, including insurance, credit cards, digital gold and payments. It had 14.03 crore registered users and 48 financial partners as of June 2026.

For the lending business, the focus now remains on growing originations through its own NBFC as well as external partners while maintaining underwriting discipline. The smaller IPO therefore comes at a time when the company is generating more cash internally but continues to deploy fresh capital towards expanding its lending operations.

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