11
A man speaks on a phone inside the National Stock Exchange (NSE) in Mumbai, India, September 17, 2025. REUTERS
Sept 21 (Reuters) – Accel-backed Indian fintech platform Moneyview is seeking a valuation of up to 59.85 billion rupees ($623.89 million) in a trimmed initial public offering that is set to open for public subscriptions on September 24.
Moneyview, formerly known as Whizdm Innovations, provides users a suite of financial products through a network of banks, non-bank lenders, insurers, and other financial institutions.
Here are some details about its IPO:
- The IPO comprises a fresh issue of shares worth 7.5 billion rupees and an offer for sale (OFS) of up to 100.49 million shares from existing investors.Co earlier planned a fresh issue of 15 billion rupees and an OFS of 136.1 million shares, as per the draft red herring prospectus. It did not immediately specify the reason for the reduction in offer size.Fintech platform plans to use IPO proceeds to drive growth in loan disbursals, invest in a subsidiary, and for general corporate purposes.Promoters Puneet Agarwal and Sanjay Aggarwal to sell up to 13.55 million shares each, while Accel, Tiger Global and Ribbit Capital are also selling stakes.The IPO will close on September 28, while the stock is expected to begin trading from October 1. Anchor investors can bid on September 23.The company’s consolidated profit before exceptional items jumped 65.4% to 3.97 billion rupees in fiscal year 2026, while revenue rose 43.3% to 33.51 billion rupees during the year, driven by an increase in fees and commissions collected from users, as per its annual report.The IPO comes at a busy time in India as primary market activity picked up pace in the second half of 2026 after a muted first half due to geopolitical tensions.
($1 = 95.9300 Indian rupees)
Reporting by Vivek Kumar M; Editing by Harikrishnan Nair
