Moneyview Limited

The section discusses the macroeconomic tailwinds in India, including projected GDP growth, rising private consumption, and increasing digital penetration. These factors are driving the emergence of a 'Middle India' consumer class who are increasingly engaging with formal and digital financial services. The retail lending market is expected to expand significantly, particularly in unsecured loans, which is being fueled by digital credit products. Furthermore, the text highlights the rise of full-stack financial platforms that integrate various services within a data-led ecosystem.

India's economic growth is supported by two main drivers: the expansion of credit and rising private consumption. Private Final Consumption Expenditure (PFCE) is a major component of the economy, contributing about 62% of India's GDP as of FY2026. Private consumption is growing faster than GDP, with PFCE registering a robust CAGR between FY2021 and FY2026. Furthermore, household credit has expanded steadily, reflecting increased access to formal finance and rising borrowing capability among households. The trend shows consumer spending shifting towards discretionary categories, which is expected to continue expanding.

India's economic growth is being driven by several macroeconomic factors, including a growing young working population and increasing incomes, which are fueling consumption, especially in discretionary categories. The expansion of middle-income households, particularly in Tier 2+ cities, is a key driver, supported by rising incomes and infrastructure development. Furthermore, digital infrastructure is rapidly changing consumer habits, pushing a shift from offline to online channels across various sectors. This digital transformation is expanding the market for online consumer internet platforms significantly.

The financial inclusion in India is being significantly supported by growing consumption and digital adoption, which are fostering broad-based financial services. This momentum is accelerated by foundational public digital infrastructure like Aadhaar-enabled eKYC and UPI-led payments, which have reduced transaction frictions. Furthermore, the credit landscape is expanding rapidly, with retail loan sanctions projected to nearly double by FY2031P, driven by rising consumer aspirations and easier access to credit. Digital lending models and regulatory guardrails are enabling lenders to reach previously excluded segments, leading to a shift towards more diverse and inclusive credit ecosystems.

The digital lending landscape in India is being reshaped by Lending Service Provider (LSP)-led models, AI-driven underwriting, and supportive regulations, which enable faster, more transparent credit journeys. Digital platforms are developing full-stack credit models that integrate various functions from origination to repayment, focusing on streamlining processes and enhancing borrower experience. Key drivers for this growth include a consumer-driven surge in unsecured credit demand, the use of alternative data for credit assessment, and the foundational support provided by government initiatives like India Stack and digital public infrastructure.

The text discusses the evolution of digital underwriting models, hyper-personalization, and the regulatory environment in India's digital lending sector. Digital underwriting uses AI/ML to analyze various data sources for credit risk assessment, while digital lenders offer highly customizable loan products. Regulatory initiatives from the RBI aim to foster sustainable digital lending by mitigating credit risk, promoting data protection, and expanding co-lending frameworks. Furthermore, digital platforms are integrating into full-stack financial ecosystems, using lending as a gateway to cross-sell complementary products like insurance and investment.

The text discusses how credit players leverage data-driven models and infrastructure to diversify and achieve sustainable growth by cross-selling financial products. Key strategies include using enriched datasets for holistic risk assessment, embedding insurance within lending journeys, offering flexible distribution models, and achieving capital-light, high-ROI expansion. The market context highlights significant growth in credit card transactions and the disruptive potential of credit on UPI, which simplifies credit access by linking credit to UPI handles. Furthermore, digital gold has seen innovation through fractional ownership and various trading capabilities, and full-stack digital providers are positioned to drive financial inclusion by integrating various services.

The competitive landscape in India's retail credit market has shifted due to increased consumption, digital penetration, and easier access to formal credit, accelerating the adoption of unsecured credit products. This evolution has led to the rise of full-stack digital lending platforms that integrate technology with balance-sheet capabilities. Moneyview competes with several listed digital platforms and NBFCs, alongside other digital lending platforms, while global players offer a broader market perspective. Moneyview has demonstrated resilience by reducing its annualised loss rates despite industry headwinds, leveraging alternative data for dynamic underwriting.

The provided section primarily focuses on presenting financial performance data for Moneyview Limited in comparison to its digital lending platform peers. It details the profit before tax (PBT) and year-on-year growth for Moneyview against several unlisted and listed competitors across different fiscal years. The text also includes important disclaimers regarding forward-looking statements, the source of industry data, and the reliance on reports commissioned by the company.

The company operates as a consumer-focused, digital-only, credit-led financial services platform targeting Middle India customers. It provides access to a full suite of financial products through a network of Financial Partners, including its NBFC subsidiary, via the Moneyview mobile application. The platform emphasizes a consumer-first approach by delivering personalized financial products through a seamless digital experience. The company leverages data, technology, and innovation to deliver tailor-made financial products, ensuring a convenient and user-friendly digital journey for users.

The company serves as a credit-led digital financial services platform, focusing on personal loans facilitated through a network of financial partners. For personal loans, the company operates as an LSP in partnership with REs, handling the entire lifecycle from user acquisition to collections. Personal loans are disbursed through two channels: platform partners like banks and NBFCs, or through their own NBFC subsidiary, WFPL, which undertakes on-balance sheet lending. Fees and commission income are earned for platform loans, while origination fees and net interest margin are earned for loans facilitated by the subsidiary, with credit risk for the latter borne by WFPL. The business model is designed for scale and profitability, showing consistent growth in loan disbursals and improvements in loan margins due to lower credit costs and operating expense efficiencies.

The issuer's competitive strengths revolve around a self-reinforcing flywheel that drives sustainable growth through user engagement and monetization. Growth is fueled by acquiring new users, which is then leveraged to generate revenue through financial products via a seamless digital experience. The business model emphasizes user satisfaction to encourage repeat usage and organic growth through referrals. Furthermore, the company employs a data-driven approach using AI/ML models on extensive data sources to segment users and assess risk beyond traditional credit bureau scores, allowing for tailored loan products.

The company utilizes in-house user data and segmentation models to differentiate credit risk among borrowers with similar bureau credit profiles, allowing for tailored loan offerings with customized ticket sizes and tenures. The platform leverages real-time data and advanced analytics to monitor loan pool performance and proactively adjust risk parameters in response to macroeconomic trends. The company has demonstrated improved operational efficiency, with operating expenses as a percentage of total income declining over time. Key technological capabilities include an in-house developed tech platform, flexible architecture, deep API integrations with financial partners, and robust AI/ML models for credit evaluation and collections. Furthermore, the company operates a capital-light model supported by partnerships with financial institutions and a diversified funding base.

The company highlights its competitive strengths through a combination of elements that work together to ensure sustained growth and improving profitability. These strengths include a large, engaged user base that enhances data depth and marketing efficiency, data-driven underwriting capabilities that support disciplined credit outcomes, a capital-light platform structure that improves capital efficiency, and experienced management ensuring prudent execution. The business model has shown resilience across market cycles, with significant growth in disbursals, revenue, and profits. Growth strategies focus on expanding the registered user base, increasing user monetization, broadening the product suite, deepening the financial partner ecosystem, and investing heavily in AI to improve operational efficiencies.

The company operates a digital financial services platform offering a wide range of financial products structured across four core categories: Borrow, Transact, Invest, and Protect. The platform aims to provide users with a convenient, one-stop solution for managing their financial lives through an integrated digital experience. Key product offerings include personal loans, earned wage access, secured loans like home loans, credit cards, digital gold, fixed deposits, insurance, and unified payments. The company is focused on strengthening funding efficiency and improving credit ratings to reduce the cost of capital.

The company offers several financial products and services through its platform. These include Digital Gold, Fixed Deposits, insurance, unified payment interfaces, user engagement tools like Credit Score Tracker and Money Manager, and a material subsidiary involved in unsecured lending. The platform focuses on providing convenient, digital, and user-friendly solutions across various financial needs.

The company originates loans on its balance sheet and earns net interest margin from these loans. The company operates a technology-led platform built on a cloud-native, modular, and microservices-based architecture designed for scalability and reliability. The platform leverages API-driven integrations for real-time connectivity with ecosystem partners and employs advanced analytics, AI, and ML for personalized user experiences and operational efficiency. The company emphasizes data privacy and security through structured policies, technical controls, and governance mechanisms to protect sensitive data. The business faces competition from full-stack digital lending platforms that use hybrid models combining marketplace sourcing with captive NBFC arms.

The company details its workforce composition, noting that as of June 30, 2026, the total workforce included 1,933 personnel, with women constituting 35.64% of the workforce. The average age of permanent employees was 32 years as of the same date. The company emphasizes its commitment to employee retention through an Employee Stock Option Plan (ESOP) and a quarterly Rewards and Recognition program. Furthermore, the company integrates Environmental, Social, and Governance (ESG) considerations into its operations, focusing on financial services access, inclusion, and governance integrity.

This section outlines various regulations, laws, and policies applicable to the company and its subsidiaries in India, primarily concerning the Non-Banking Financial Company (NBFC) sector. It details requirements from the Reserve Bank of India (RBI) regarding licensing, reserve funds, capital adequacy, asset classification, and governance. Specific regulations differentiate between various layers of NBFCs based on size and activity, and mandate stringent procedures for risk management, liquidity, and financial reporting.

This section details various regulatory directions and guidelines issued by the Reserve Bank of India (RBI) concerning Non-Banking Financial Companies (NBFCs). It covers requirements for changes in management, the appointment of a Chief Compliance Officer (CCO), various business conduct directions, rules on advertising and marketing, handling of loan dues, and guidelines related to fraud risk management and concentration risk. Furthermore, it outlines regulations for securitisation transactions, the transfer of loan exposures, and guidelines for outsourcing financial services and IT services.

This section details various regulatory directions and guidelines issued by the Reserve Bank of India (RBI) concerning different aspects of NBFC operations, including credit risk, asset resolution, Know Your Customer (KYC), and IT governance. It covers rules for handling stressed assets, digital lending, customer identification, and various procedural requirements for financial transactions and reporting. Furthermore, it references regulations related to financial fraud prevention and the framework for reporting under the Prevention of Money Laundering Act (PMLA).

This section outlines the extensive legal framework governing the company's operations in India, covering insurance regulations, IT and data protection laws, foreign investment rules, labour laws, intellectual property rights, and tax regulations. It details requirements for corporate agents, data handling, and compliance with various labour codes. The text specifies various acts and rules that dictate aspects such as the validity of trademarks, patent grants, and the applicability of different tax laws.

The company began as Whizdm Innovations Private Limited on August 11, 2014, and subsequently underwent several name and conversion changes. The company transitioned to Moneyview Private Limited on May 15, 2025, and later to Moneyview Limited upon conversion to a public limited company on May 30, 2025. Key product launches included the Money Manager in 2014 and personal loan products in Fiscal 2018. The company expanded its product portfolio significantly in Fiscal 2025 to include insurance, home loans, credit cards, digital gold, and various digital services. The company also had several amendments to its Memorandum of Association regarding share capital and the scope of business, including changes to incorporate insurance business.

The company underwent several significant corporate changes, including name changes and a conversion from a private to a public limited company. Key amendments detail changes to the Memorandum of Association and the authorized share capital structure. The company has a history of receiving numerous awards and recognitions in the fintech sector. Furthermore, the company has entered into agreements for the acquisition of a company, which involved the transfer of equity shares and various preference shares. Various shareholders' agreements and waivers were also established to govern the company's operations and future listing plans.

This section details several key corporate transactions and structural aspects of the company. Key events include the acquisition of Zeo on September 3, 2024, which led to the execution of a Shareholders’ Agreement on December 18, 2024. The company was converted into a public limited company on June 10, 2025, to facilitate an offer. Furthermore, an amendment to the SHA was executed on February 27, 2026, to comply with SEBI regulations. The section also mentions secondary transfers of equity shares between promoters and their group members between December 2025 and January 2026, and the allotment of equity shares to the Moneyview Employees Trust on February 24, 2026.

The definitions section identifies the issuer as Moneyview Limited, a public limited company incorporated under the Companies Act, 2013. The company's registered and corporate office is located in Bangalore, Karnataka. The definitions also specify various terms related to the offer process, including different types of shareholders, bid amounts, and the role of various intermediaries. Key personnel such as the Managing Director and Chief Financial Officer are also defined.

This section defines various terms related to the offer process, including designated dates, intermediaries, accounts, and types of bidders. It specifies different categories of bidders such as FPIs, NRIs, and Retail Individual Investors, and details the structure of the public offer, including the breakdown of Fresh Issue and Offer for Sale components. It also outlines the pricing structure, including the Floor Price and Cap Price for the equity shares.

This section primarily lists various financial and legal terms used within the prospectus. It includes definitions for various financial metrics such as Average Monthly Income, various credit/loan terms like DPD and Gross Stage 3 Loans, and definitions for various entities and regulations. It also defines terms related to financial products, payment systems, and various regulatory bodies.

This section outlines various legal definitions used within the prospectus, including definitions for various acts, funds, and time periods. It specifies conventions regarding the use of financial information, currency, and time references. It details the types of financial data presented, noting differences between Indian accounting standards (Ind AS), International Financial Reporting Standards (IFRS), and U.S. GAAP. Furthermore, it includes disclosures about the nature of the issue and restrictions on offering shares to persons outside of India.

The text discusses various disclaimers regarding investment risks, the nature of offers to the public, and the requirements for investors. It specifies that the Equity Shares offer no guaranteed income or capital protection, and investment is only suitable for investors who can bear potential losses. Furthermore, it details conditions under which offers of Equity Shares may be made, including exemptions under the Public Offers and Admissions to Trading Regulations 2024. The document also outlines requirements for UK distributors concerning product governance rules and clarifies that certain statements are forward-looking and subject to various risks and uncertainties.

This section details various corporate and regulatory information related to the company, including its registration details and the composition of its Board of Directors. It also outlines the contacts for investor grievances and lists the Book Running Lead Managers (BRLMs), the Registrar to the Offer, Statutory Auditors, Syndicate Members, and various Bankers to the Offer.

This section details various procedural and regulatory aspects related to the issuance process, including who can submit bids and the parties involved in the underwriting agreement. It outlines rules for Designated Intermediaries, Syndicate Banks, Registered Brokers, Registrars, and Collecting Depository Participants. Furthermore, it specifies that no credit agency has been appointed for grading the offer, but CARE Ratings Limited has been appointed as the Monitoring Agency. The text also lists several experts who provided written consent for their involvement in the prospectus, and details the process for the Book Building, including the timing for advertising the offer documents.

This section details the authorized and issued share capital structure of the company as of the prospectus date, including various classes of equity and preference shares. It also provides a comprehensive history of equity share capital allotments and buybacks, tracking the dates, nature of the transactions, and the corresponding changes in the cumulative paid-up equity share capital. The section also outlines recent offer details and regulatory authorizations related to the transfer of shares by selling shareholders.

This section details various allotments and buy-backs of equity shares across different series and conversions, involving numerous entities. It outlines transactions such as allotments pursuant to the conversion of Series B, C, and C2 CCPS, as well as Series D2 CCPS and E1 CCPS. The section also covers the history of secondary transactions by promoters and members of the Promoter Group, including transfers of equity shares and Series C CCPS, and provides information on the build-up of promoter shareholding since incorporation.

The section details various transactions involving the allotment and transfer of equity shares over time, including gifts, buybacks, and bonus issues. It outlines the calculation of promoter shareholding, noting that the promoters hold 19.55% of the subscribed and paid-up share capital pre-Offer. Furthermore, it discusses the concept of Minimum Promoters’ Contribution, which requires a certain percentage of post-Offer equity share capital to be locked-in for a specified period. It also specifies conditions regarding the encumbrance of these locked-in shares.

The section details various aspects of the company's capital structure, including lock-in periods for equity shares allotted to anchor investors. It also provides a breakdown of the shareholding of promoters and the promoter group, showing the number and percentage of equity shares held. Furthermore, the text outlines various shareholding patterns as of the prospectus date, including details of major shareholders and the status of employee stock option schemes.

This section details various aspects related to employee stock option schemes, including compliance certifications and the details of transactions involving securities acquired by promoters and selling shareholders. It provides historical data on options outstanding, granted, and exercised across different fiscal years. Furthermore, it lists details of various transactions such as bonus issues, gift equity, and conversions of different classes of preference shares, along with the timing and nature of these acquisitions.

This section details the pre-offer and post-offer shareholding patterns of various shareholders, including promoters and additional top 10 shareholders, as of the date of the Prospectus filing. The data shows changes in shareholding percentages between the lower and upper ends of the price band for several entities. Furthermore, the text includes various compliance and procedural statements regarding financing, buy-back arrangements, and future capital structure changes.

The Offer involves a Fresh Issue of Equity Shares and an Offer for Sale of Equity Shares by Selling Shareholders. The Gross Proceeds from the Fresh Issue are estimated at ₹750.00 Crore, with offer expenses amounting to ₹63.29 Crore, resulting in Net Proceeds of ₹686.71 Crore. The company proposes to use these Net Proceeds for various objects, primarily focusing on funding loan disbursals, investment in its Material Subsidiary, and general corporate purposes. The utilization plan details how these funds will be deployed across different fiscal years, with provisions for future funding needs related to default loss guarantee arrangements.

The section details various aspects related to the offer, including the sharing of costs and expenses between the Company and Selling Shareholders, and the estimation of offer expenses. It outlines specific fees, such as those for Book Running Lead Managers, advertising, and legal counsel, as a percentage of the total offer size. Furthermore, it provides detailed breakdowns of various other estimated expenses, including listing fees, regulatory expenses, and fees for advisors, which collectively amount to a significant portion of the total estimated offer expenses.

This section details various quantitative factors used for calculating the Offer Price, including earnings per equity share, P/E ratios, Return on Net Worth, and Net Asset Value. It presents historical data for these metrics across different financial years and periods, along with notes explaining the computation methods. Furthermore, it lists Key Performance Indicators (KPIs) that the company uses to analyze and monitor its business performance against industry peers.

The provided text compares the company's Key Performance Indicators (KPIs) against a peer group of listed Indian companies in the digital financial services ecosystem. The comparison includes metrics such as Registered Users, Monetized Users, Loan Disbursals, Managed AUM, and Total Income across different time periods. The text also details that the company has not made any additions or dispositions to its business during the specified periods, except for the acquisition of Zeo Fin Technology Private Limited. It further outlines various primary transactions involving the allotment of equity shares.

This section details various allotments and transactions related to equity shares, including conversions of different classes of CCPS. It lists several large allotments to various entities, such as TI JPNIN Holdco, Ltd. and Accel India IV (Mauritius) Limited, and also includes allotments to entities like Ribbit Capital and DI Investment LLC. Furthermore, the text discusses secondary transactions, including some involving cash transfers pursuant to the exercise of ESOPs, and provides details on the floor and cap prices based on weighted average cost of acquisition from primary and secondary issuances.

This section details the special tax benefits available to Moneyview Limited and its shareholders under the Income-tax Act, 2025, applicable for the Tax Year 2026-27. It outlines provisions regarding deductions for employee costs and dividends received from other companies. Furthermore, it clarifies that there are no special tax benefits available to shareholders for investing in the company's shares. The document also covers aspects related to the application of certain tax provisions and the reliance on prescribed conditions.

This section details the special tax benefits available to the Material Subsidiary under various Indian tax laws. It outlines provisions related to the Income-tax Act, 2025, which allows a domestic company to opt for a concessional corporate tax regime, subject to certain conditions. Furthermore, it addresses the applicability of Minimum Alternate Tax (MAT) provisions. Separately, the section covers special indirect tax benefits, confirming that no such benefits are available under the relevant laws.

This section details the capital structure of WFPL and Zeo Fin Technology Private Limited, including the shareholding pattern, and presents key financial indicators for both entities across different periods. For WFPL, financial data is provided for three-month periods ending June 30, 2026, June 30, 2025, and fiscal years 2026, 2025, and 2024. Zeo Fin Technology Private Limited's financial data is also provided for the same periods, with some notes indicating that Zeo was acquired in Fiscal 2025.

This section details the directorships, key personnel, and governance structure of the company. It lists various directors, including Independent Directors, along with their terms and associations with the company. It also outlines the remuneration structure for the Managing Director and other executives, including compensation received in Fiscal 2026. Furthermore, the text covers aspects of borrowing powers, corporate governance compliance, and the constitution of various Board committees.

This section details the terms of reference for several key committees within the company, including the Audit Committee, Nomination and Remuneration Committee, Stakeholders’ Relationship Committee, and the Risk Management Committee. The Audit Committee has extensive powers related to financial reporting oversight, auditor appointments, and reviewing various financial statements and transactions. The Nomination and Remuneration Committee is responsible for formulating criteria for director qualifications, determining remuneration policies, and evaluating director performance. The Stakeholders’ Relationship Committee focuses on resolving grievances related to shareholder rights and the timely receipt of dividends and reports. Finally, the Risk Management Committee's functions are in compliance with the SEBI Listing Regulations.

This section primarily outlines the terms of reference for the Risk Management Committee and the Corporate Social Responsibility Committee, detailing their responsibilities for reviewing, formulating, and monitoring various policies and activities. It also details the composition of these committees and the roles and responsibilities of various Key Managerial Personnel and Senior Management Personnel, including their associations and compensation details for a specific fiscal year.

This section details information regarding the company's promoters, key managerial personnel, and related party interests. It specifies the number of equity shares held by the promoters and outlines various disclosures concerning the changes in management personnel and the interest of promoters in the company. Furthermore, it addresses the payment or benefit to key personnel and the lack of material guarantees given by the promoters to third parties regarding equity shares. The text also lists entities that constitute the promoter group under SEBI ICDR Regulations and discusses the company's dividend distribution policy.

This section details the process of the Independent Auditor's Examination Report on the restated consolidated summary statements of Moneyview Limited and its subsidiaries. It outlines the scope of the examination, the standards against which the financial statements were prepared, and the responsibilities of both the management and the auditors. The examination relied on audited financial statements and included various modifications and qualifications related to accounting practices and record-keeping across different periods.

The provided text details the reliance placed on the audited financial statements of a subsidiary, noting that management converted these statements to Ind AS and the conversion adjustments were audited. The examination report confirmed that the subsidiary's statements did not contain qualifications requiring adjustments, and that various restated statements were prepared retrospectively to reflect changes in accounting policies or material errors. The report also confirms that the restated consolidated summary statements were prepared in accordance with relevant regulations, and the auditors expressed no opinion on financial statements subsequent to June 30, 2026.

This section provides a summary of changes in equity and cash flows for Moneyview Limited across different periods. The data includes movements in various equity components, profit figures, and detailed cash flows from operating, investing, and financing activities. The statements cover periods including the three months ended June 30, 2026, June 30, 2025, and full years ended March 31, 2026, March 31, 2025, and March 31, 2024. The cash flow statement details significant movements in cash and cash equivalents, including operating, investing, and financing cash flows.

This section details various accounting policies related to the financial statements, including the recognition and measurement of assets, liabilities, and financial instruments. It covers how goodwill is measured and tested for impairment, the functional currency, the treatment of estimates and judgments, the classification of assets and liabilities into current and non-current categories, revenue recognition principles, depreciation methods for Property, Plant and Equipment, amortization for intangible assets, finance costs, fair value measurement techniques, and the specific accounting for different types of financial instruments such as financial assets and liabilities.

This section details various accounting policies of the Group, covering aspects such as defined benefit gratuity plans, leases, taxation, provisions, and share-based payments. It outlines the recognition and measurement principles for different financial statement line items and contingent liabilities. The policies also cover significant management judgments and estimates used in preparing the restated consolidated summary statements.

This section details the carrying values for Property, plant and equipment, Right of use assets, Goodwill, and other intangible assets over several fiscal periods, including additions and depreciation charges. It also provides data on Trade receivables, categorized by their credit quality, and various financial instruments such as investments, loans, and deposits. The data spans from April 2023 to June 2026, showing fluctuations in these balance sheet components.

This section details the restated consolidated summary statements for Moneyview Limited across various reporting dates, including cash balances, loans, financial assets, and various components of deferred tax assets and liabilities. It also provides extensive information regarding the structure and movement of the company's equity share capital, including various classes of preference shares, and the issuance of bonus shares and share buybacks.

This section details the reconciliation of various classes of shares outstanding at different points in time, including balances at the beginning and end of the period for different series (A, A1, B, C, C1, C2, C3, D2, D3, E1, E2, E3, E4, E5, E6). It also provides information on the ownership structure, showing the percentage holding of various entities in the company's shares. Furthermore, the text outlines the details of preference shares held by promoters and the movement in various components of other equity, such as securities premium, retained earnings, and various reserves. Finally, it details the borrowings, including non-convertible debentures and term loans, along with the security arrangements and covenant compliance status.

This section details various financial liabilities and borrowings of Moneyview Limited, categorized into non-current and current components, along with provisions and trade payables. It provides historical data on the outstanding amounts of various financial instruments and dues owed to different classes of enterprises. The data is presented across different reporting dates, including June 30, 2026, June 30, 2025, March 31, 2026, March 31, 2025, and March 31, 2024.

This section details various financial line items, including revenue, income, expenses, and cash flows, presented for different periods. It includes breakdowns of revenue by type and contract price, information on trade receivables, various interest income and expense components, depreciation and amortization, impairment of financial instruments, and detailed information on various expenses such as marketing, salaries, and legal fees. Furthermore, it provides data on cash movements, CSR expenditures, tax expense reconciliation, and details regarding lease accounting, including right-of-use assets and lease liabilities, as well as the structure and movement of employee stock option plans.

This section details various notes related to the financial statements, including assumptions for fair value calculations, details on stock appreciation rights (SARs), employee benefit obligations, and sensitivity analyses. It provides historical data points for various financial metrics and actuarial assumptions used in the reporting.

Investors should be aware that the investment carries a high degree of risk, and various uncertainties may affect the company's business, financial condition, and prospects. The company's success is heavily dependent on its ability to attract, engage, and monetize users, which is linked to the evolving user preferences and product trends. Furthermore, the company relies significantly on its Financial Partners, and the sustainability of these relationships is not guaranteed. Risks also exist concerning the retention of key management personnel and the ability to scale operations cost-effectively due to rapid growth.

The company's future growth is contingent upon its ability to attract new users cost-effectively while ensuring a compelling product experience. Various challenges exist, including the need to collaborate with financial partners, conduct adequate market research, and attract users in unfamiliar markets. The company acknowledges limited experience in operating at its current scale and complexity, which may make future operating results unpredictable. Furthermore, borrower defaults on facilitated loans can increase impairment expenses, and the company operates under regulatory frameworks concerning default loss guarantees. The company also faces credit risks related to loans originated by its Material Subsidiary, WFPL, and the potential for increased defaults in its portfolio.

The risks identified cover several critical areas impacting the company's operations and financial standing. Brand reputation is vital, and maintaining it requires continuous investment in user experience. There are concerns about sustaining historical growth rates cost-effectively and potential negative publicity. Risks also exist concerning the integrity of technology platforms, including cybersecurity threats and reliance on third-party data. The company operates under a complex regulatory environment in India, involving various bodies like the RBI and IRDAI, which introduces compliance burdens. Furthermore, the subsidiary faces specific liquidity and capital adequacy requirements from the RBI.

The section details several material risks faced by the company and its subsidiary, including regulatory and legal issues, capital adequacy concerns, and significant cybersecurity threats. Risks include potential regulatory action due to issues with non-convertible debentures, the need to raise additional capital to meet RBI's capital adequacy ratios, and vulnerability to cyber-attacks that have resulted in financial losses. Furthermore, reliance on third-party technology and data integrity poses risks, as does the dependency on third-party service providers and the potential for changes in the regulatory framework.

The company has recovery and business continuity processes in place, but there is no guarantee they will be sufficient for all eventualities, which could negatively impact reputation, operations, and financial condition. Risks exist related to third-party payment processing, where failures could affect consumers' ability to pay. Furthermore, reliance on UPI infrastructure exposes the company to risks from regulatory changes or service disruptions that could impair repayment processing. Competition is intense, and the company may struggle to compete against existing or new players, potentially leading to market share loss. The business is also highly dependent on capital, and disruptions in funding sources could affect liquidity. Finally, various financing arrangements impose covenants that could restrict the company's ability to operate and grow.

The company has received various ratings upgrades for its bank loan facilities and debentures, though there is a stated risk that future failures to meet financing obligations could negatively impact the business. Certain modifications were noted by auditors concerning system configurations and backup processes, which have since been remediated, although there is no assurance against future issues. The company acknowledges ongoing issues with related-party transactions and the potential for conflicts of interest. Furthermore, the company faces risks related to leasing agreements, where non-renewal could jeopardize operations, and risks associated with the funding of a fresh issue, as its objectives are based on internal estimates. There are also significant risks concerning the accuracy of user information, which could lead to fraud or misrepresentation, and potential liabilities under anti-money laundering laws. Finally, the company faces risks related to the use of third-party software, including open-source components, which may lead to litigation or inability to procure necessary licenses.

This section details responses to various complaints made by complainants regarding the company's collection and recovery practices and the disclosures in the Draft Red Herring Prospectus (DRHP). The company asserted that its collection practices comply with applicable laws and regulations, including those from the Reserve Bank of India. Furthermore, the company defended its disclosures, stating that they were accurate and that certain litigation matters did not require disclosure under the relevant regulations.

The section introduces the existence of outstanding legal proceedings involving certain Directors and Subsidiaries, warning that unfavorable outcomes could negatively impact the company's business, financial condition, operations, cash flows, and prospects. It directs the reader to a separate section on page 428 for a detailed summary of litigation proceedings against the Company, its personnel, and promoters.

The management section details various legal and regulatory risks, including past proceedings against a director, potential issues with intellectual property enforcement, interest rate risk, and compliance with data protection laws. The company highlights that while they have not faced material adverse effects in recent periods, they cannot assure that future risks will not impact their business. Furthermore, the section discusses risks related to the reliance on third-party platforms for distribution and the potential for asset-liability mismatches.

The company faces several risks related to its operations, including the potential inability to reach or expand its user base, the accuracy of product information, and the reliability of its AI/ML-driven segmentation engine. Furthermore, failures in risk management could expose the company to legal and regulatory liability. The company relies on third-party vendors for various services, and disruptions from these vendors could negatively impact operations. There are also concerns regarding the adequacy of insurance coverage and the potential for delays in paying statutory dues.

The company disclosed details regarding statutory dues payments, noting that delays were due to technical glitches or issues with KYC/supporting documents for employee transfers. The company cautioned that future delays could expose it to statutory and regulatory action, including penalties. Furthermore, the company engages contract labor, and liability for defaults by independent contractors is noted. The utilization of net proceeds for the offer is subject to compliance requirements, including prior shareholder approval, and the company cannot undertake variations without such approval. Finally, the company highlighted risks related to the reliance on third-party reports and the potential classification as a Passive Foreign Investment Company (PFIC) for U.S. investors.

The company is subject to various requirements under the Consolidated FDI Policy and other Indian foreign investment laws as a foreign-owned and controlled entity. There is a risk that regulatory or judicial authorities might interpret business activities in violation of these laws, which could lead to sanctions, monetary penalties, or a cessation of business activities. Furthermore, the company faces risks related to employee stock option schemes, which may result in charges to the profit and loss account and dilute shareholder shareholding through future equity share issuances. The company's digital gold offering operates outside the current regulatory framework, exposing it to scrutiny, and there are concerns about potential adverse effects from changes in laws, inflationary pressures, and risks associated with foreign investment and competition laws.

The management section primarily addresses the difficulties investors may face in enforcing foreign judgments against the company or its personnel, noting that India is not a party to international treaties regarding such judgments. It details the requirements for enforcing foreign judgments under the Civil Procedure Code, including limitations on what can be enforced and the need for Indian courts to issue new decrees. Furthermore, the section discusses risks related to the offer, such as the possibility of issuing equity shares at a price lower than the offer price and the potential for fluctuations in exchange rates affecting dividends and proceeds from sales.

This section discusses various legal and regulatory risks, including potential adverse effects from changes in tax laws, the introduction of new laws like the Finance Bill 2026, and the potential for non-compliance with existing rules. It also details risks related to the listing and trading of Equity Shares, such as delays in listing, the inability to dispose of shares, and market volatility. Furthermore, the text covers restrictions on pre-emptive rights for equity holders and the implications of future equity issuances or sales by major shareholders on the trading price and the company's ability to raise funds.

The provided text details various aspects related to the offering of shares, including different selling shareholders and the allocation procedures under SEBI ICDR Regulations. It outlines the distribution of the Qualified Institutional Buyer (QIB) portion of the offer, including allocations to domestic Mutual Funds, Life Insurance Companies, and Pension Funds. Furthermore, the text specifies the allocation rules for the Non-Institutional and Retail categories of investors, emphasizing proportionate allocation based on bid sizes and availability of shares.

This section summarizes contingent liabilities, related party transactions, and transactions eliminated on consolidation for the company. It details a default loss guarantee outstanding and lists various related parties, including key management personnel, relatives, and subsidiaries. Furthermore, it provides a detailed breakdown of transactions with related parties across different time periods, including remuneration, sitting fees, and various financial flows with entities like Whizdm Finance Private Limited, Moneyview Limited, and Zeo Fin Technology Private Limited.

This section details various related party transactions, including remuneration to key management personnel and payments to relatives of key managerial personnel. It also outlines transactions involving wholly owned subsidiaries and entities where key management personnel held significant influence. The document further provides details on the balances receivable and payable to related parties as of different reporting dates. The section also covers the accounting classification and fair value hierarchy for financial instruments and outlines the company's framework for managing credit, liquidity, and market risks.

The section details the framework for financial risk management, including credit risk, liquidity risk, and market risk, for Moneyview Limited. For credit risk, the group defines various credit risk stages based on days past due (DPD) and outlines criteria for impairment assessment, including the consideration of historical loss experience and macroeconomic factors. Liquidity risk is managed through various provisions related to borrowings, lease liabilities, and trade payables, with different maturities categorized over various time horizons. Market risk is assessed concerning interest rate, liquidity, and price risks, with specific considerations for exposure and sensitivity on profit.

This section details the consolidation of financial statements for Moneyview Limited and its subsidiaries, including various financial metrics across different reporting periods. It shows the breakdown of assets, liabilities, and profits/losses for the holding company and its subsidiaries, such as Whizdm Finance Private Limited and Zeo Fin Technology Private Limited. The data is presented in different formats, including as a percentage of consolidated net assets and as absolute amounts, for periods ending in June 2026, June 2025, March 2026, and March 2025. The text also includes disclosures regarding segment information, contingent liabilities, and details about the business combination involving the acquisition of Zeo Fin Technology Private Limited.

This section primarily details financial statements and accounting treatments, including various income, expenses, and liabilities for different periods. It includes information regarding the proper keeping of books of account, the use of accounting software, and various regroupings of financial items. Furthermore, it references related party transactions which are detailed in a separate section as per accounting standards.

The company operates as a digital financial services platform connecting users with various financial institutions. Revenue is primarily generated through fees and commission income, interest income, gain on derecognition of financial assets, and other operating income. Revenue from fees and commission income is earned by facilitating loan origination and providing end-to-end servicing for personal loans. The company has launched new offerings such as earned wage access, home loans, credit cards, insurance, digital gold, fixed deposits, and UPI, although their revenue contribution was not material in recent periods. The business relies on a strong network of Financial Partners, whose contribution to revenue has shown some fluctuation over time.

The company has diversified its funding profile across various instruments and counterparties to support the scale-up of its lending operations, optimize borrowing costs, and enhance liquidity management. This diversification is evident in shifts in the composition of borrowings, such as an increase in debt securities as a percentage of total borrowings. Furthermore, the company monitors its asset-liability management closely, particularly for its Material Subsidiary, WFPL, to manage maturity mismatches across its loan portfolio and borrowings. Operational expenses have also seen changes, with some costs increasing due to business growth, while others have been optimized through technology integration.

The section details various financial performance metrics comparing Fiscal 2026 to Fiscal 2025, highlighting significant growth in revenue and income streams. Total income increased by 43.13% in Fiscal 2026, driven by increased total revenue from operations. Key drivers included substantial increases in fees and commission income, interest income, and gains on the derecognition of financial assets. Expenses also rose, primarily due to higher employee benefits, finance costs, and impairment of financial instruments.

The section details various financial metrics, including changes in costs, impairments, and various loan figures over fiscal years. Finance costs increased significantly, driven by higher interest on borrowings, which was mainly to fund portfolio loans for a material subsidiary. Depreciation and amortization expense also rose, and impairment of financial instruments showed substantial growth, particularly in loss allowances and default loss guarantee expenses, linked to the growth in gross loans. Other expenses showed minor increases, with some components declining as a percentage of loan disbursals. The resulting restated profit before tax showed an increase, and the tax expense reflected a higher effective tax rate in the fiscal year.

This section primarily details financial performance metrics, debt structure, and cash flow movements over several fiscal periods. It presents various profit and loss figures, interest coverage ratios, and debt-to-equity ratios. Furthermore, it outlines liquidity management strategies, including cash balances and borrowings, and provides a detailed breakdown of cash flows from operating, investing, and financing activities. The text also discusses the relationship between loan growth and funding requirements for the lending business.

The provided section details various aspects of the company's financial performance, including loan portfolio segmentation, impairment provisions, and various financial risks. It presents tables breaking down loans into different stages (Stage 1, 2, and 3) and shows metrics related to loan quality such as the Net Stage 3 Loans Ratio and Provision Coverage Ratio. Furthermore, the text discusses impairment of financial instruments relative to Average Managed AUM and annualized losses from the Moneyview platform. The section also covers risks related to interest rates, foreign currency exchange rates, and market price fluctuations, alongside information on the credit ratings of the Material Subsidiary, WFPL.

The provided section primarily discusses the absence of unusual or infrequent transactions, known trends, or significant dependencies on suppliers. It details various accounting policies concerning revenue recognition, interest income, financial instruments, and the treatment of property, plant, and equipment. Key aspects include how fees and commission income are recognized, the calculation of interest income on loans, and the criteria for classifying and measuring financial assets, including the SPPI test for amortized cost accounting.

This section details various accounting treatments for different financial instruments and liabilities within the company's financial statements. It outlines rules for the de-recognition of financial assets, the application of the expected credit loss model for impairment, and the initial recognition and subsequent measurement of financial liabilities. Furthermore, the text covers specific accounting for employee benefits, including defined contribution and defined benefit plans, and the accounting for leases, including the recognition of right-of-use assets and lease liabilities.

The provided text details various accounting treatments related to employee remuneration and financial indebtedness. It outlines rules for equity-settled transactions, including how costs are recognized and how modifications or cancellations of awards are handled. It also specifies the accounting for cash-settled transactions and the application of vesting conditions across different transaction types. Furthermore, the text summarizes the aggregate outstanding borrowings as of June 30, 2026, categorized into secured and unsecured borrowings, along with key terms regarding tenor, interest rates, repayment schedules, and security provisions.

The section primarily discusses legal and regulatory matters concerning the Company, its subsidiaries, directors, and promoters. It clarifies the absence of outstanding criminal proceedings, actions by statutory or regulatory authorities, or tax proceedings involving the Company or its directors. It details litigation involving subsidiaries, including a significant cyber incident claim, and outlines the process for determining 'material' litigation based on various thresholds related to turnover and net worth. Furthermore, it addresses litigation against directors, including a matter related to the Foreign Exchange Management Act, which has been dismissed by the Madras High Court, and clarifies the relationship of a nominee director to certain shareholders.

The section details various legal and regulatory matters, including litigation involving Key Managerial Personnel and Senior Management Personnel, and information regarding the fundraising and subsequent down-selling of unlisted non-convertible debentures by the Material Subsidiary, WFPL. It also lists outstanding dues to various creditors and outlines the various governmental and regulatory approvals obtained by the Company and its Material Subsidiary, Whizdm Finance Private Limited.

The company clarified that it does not have any Group Companies based on the criteria defined by the Board, which involved examining related party transactions against the total income of the company. The document also details various regulatory approvals, including authorizations for the offer, resolutions passed by the Board, and consents from selling shareholders. Furthermore, it outlines compliance with various regulations concerning the offer, including those related to significant beneficial owners and the status of directors and selling shareholders regarding capital market access.

This section primarily outlines various restrictions and acknowledgments related to the offer and sale of Equity Shares, particularly concerning investors in the United States and non-U.S. persons. It details conditions under which purchasers must represent and warrant their eligibility and understanding of the restrictions. Key restrictions cover the nature of the transactions, the status of the Equity Shares under U.S. securities laws, and limitations on resale or transfer. Furthermore, it addresses issues related to the Company's status as a 'covered fund' under the Volcker Rule and the purchaser's understanding of the transfer restrictions.

This section details various legal acknowledgments and consents related to the offering of equity shares, including stipulations for purchasers regarding the nature of the transaction and transfer restrictions. It also covers disclaimers from the BSE and NSE regarding the offer document's correctness and the listing status of the securities. Furthermore, it confirms that no public issues or rights issues have been undertaken in the last five years, and no capital issues have been made in the preceding three years. Finally, it states that the company currently has no group companies and none of its subsidiaries are listed, and the promoters are individuals.

This section details various past Initial Public Offerings (IPOs) handled by different Book Running Lead Managers (BRLMs) during the current and preceding financial years. The data includes details such as the issue name, size, issue price, listing date, and performance metrics against benchmark indices. The information is segmented by the BRLM, showing how many IPOs traded at various price performance levels (discount/premium) over different timeframes.

This section primarily details various aspects related to the issuance and offer process, including the listing details of certain entities and the framework for investor grievance redressal. It lists several entities with their respective issue details, such as Fractal Analytics Limited and Amagi Media Labs Limited, along with various notes pertaining to issue prices and listing days. Furthermore, it outlines the track record of Book Running Lead Managers (BRLMs), the mechanism for resolving investor grievances, and various legal and procedural terms governing the offer, such as the ranking of equity shares and the determination of the offer price band.

This section primarily details the compliance framework, rights of equity shareholders, and procedures related to the allotment and trading of Equity Shares under the Red Herring Prospectus. It outlines various rights shareholders possess, the requirement for allotment in dematerialised form, and the agreements entered into with Depositories and the Registrar to the Offer. Furthermore, it specifies the lot size for trading and allotment, the jurisdiction for the offer, and various timelines and compensation clauses related to the bid/offer process and fund unblocking.

This section primarily details the procedural aspects and rules governing the offer structure, including conditions for withdrawing an offer and the process for allotment. It specifies the total size of the offer, the nature of the issue (Fresh Issue and Offer for Sale), and various rules regarding the allocation of shares to different investor categories like QIBs, RIIs, and NIIs. Furthermore, it outlines the bidding process, including the use of the ASBA and UPI mechanisms, and the timelines for allotment and refund procedures.

This section details procedural aspects related to the suspension/freezing of the ISIN in the depository system, the process for shareholders to transfer pre-Offer shares, and the rules governing the Book Building Procedure for the offer. It outlines various allocations based on SEBI ICDR Regulations, including provisions for QIBs, Anchor Investors, Mutual Funds, Life Insurance Companies, and Pension Funds. Furthermore, it specifies requirements for investor identity verification, the use of the UPI Mechanism, and procedures for grievance redressal concerning UPI applications.

This section details various restrictions and requirements concerning different categories of investors and entities making bids in the Offer, including Mutual Funds, Eligible Non-resident Indians (NRIs), Hindu Undivided Families (HUFs), Foreign Portfolio Investors (FPIs), Venture Capital Funds (VCFs), Alternate Investment Funds (AIFs), and various financial institutions. Specific rules are outlined regarding bid documentation, investment limits, and the treatment of multiple bids from certain investors. Furthermore, there are specific rules for bids from Limited Liability Partnerships, banking companies, Insurance Companies, Provident Funds/Pension Funds, and those acting under Power of Attorney.

This section details various procedural requirements and restrictions for investors participating in the offering, categorized by investor type such as Anchor Investors, QIBs, NBFC-SI, and UPI Bidders. It outlines rules regarding bid submission, bid modification, fund blocking mechanisms through ASBA accounts, and the required documentation for various bidders. Specific rules exist concerning the amount of bids, the entities involved, and the proper use of digital payment methods and accounts.

This section primarily outlines various procedural and regulatory instructions for investors participating in the Offer, covering aspects such as bid submission rules, handling of different investor categories, and requirements related to the flow of funds. It details restrictions on who can bid, how bids should be submitted, and the process for finalizing the allotment. Furthermore, it discusses the legal framework surrounding foreign investment in Indian securities and the status of the equity shares regarding US securities laws.

This section primarily outlines the applicability of certain regulations and the structure of the Articles of Association for Moneyview Limited. It details provisions regarding the interplay between various laws and the company's operational framework, including rules on share issuance, transfer, and liens. The text discusses how inconsistencies between different parts of the Articles are resolved and sets forth rules for the directors' power to issue and allot shares. Furthermore, it covers the process for dealing with worn-out or lost share certificates and the company's lien rights over shares and debentures.

The provided section primarily details the provisions related to the payment of calls on shares, the transfer of shares, and the forfeiture of shares. It outlines procedures for dealing with unpaid calls, the rights of shareholders concerning payments, and the process for transferring ownership of shares. Furthermore, it covers provisions regarding the alteration of share capital, including the consolidation, sub-division, or cancellation of shares, and the capitalization of profits.

This section primarily details procedural aspects of the Company's operations, including resolutions, general meetings, and the composition and powers of the Board of Directors. It outlines procedures for capitalizing profits and distributing amounts to members, rules for purchasing company securities, and provisions related to the dematerialization of securities. Furthermore, it establishes rules regarding the appointment, tenure, and removal of directors, including provisions for alternate directors and the appointment of managing/executive directors.

This section primarily details procedural aspects of the Board and committee meetings, including quorum requirements, voting procedures, and the delegation of powers. It outlines rules regarding the appointment and removal of officers such as the Chief Executive Officer or Manager, and clarifies that certain functions cannot be performed by a single person acting in both a director and an executive capacity. Furthermore, the text covers provisions related to the sealing of the company's instruments and the declaration and payment of dividends, including provisions for reserves and the handling of unpaid dividends.

This section primarily details various resolutions, reports, and consents related to the drafting and filing of the Draft Red Herring Prospectus (DRHP). It includes approvals from the Board of Directors and IPO Committee, as well as various reports from Statutory Auditors and Chartered Accountants concerning financial information, tax benefits, KPIs, and other aspects of the company's operations. Furthermore, it documents various consents from different parties, including auditors, to be included in the prospectus, and various agreements and certificates related to share structure, pricing, insurance, indebtedness, and employee stock option schemes.

The provided section primarily consists of various declarations and certifications signed by different directors and officers, affirming compliance with various laws and regulations. These declarations cover statements made in the Prospectus, and some specifically relate to the accuracy of information concerning promoter selling shareholders. The declarations are signed by Anil Berera, Sameer Kumar Baisiwala, Alpana Parida, Saurav Goyal, and Puneet Agarwal.

The provided section primarily contains declarations and confirmations from various parties involved in the Prospectus, rather than detailing specific related party transactions like loans or sales. The declarations cover statements made by Sanjay Aggarwal (as a Promoter Selling Shareholder), Chitra Agarwal (as a Selling Shareholder), Internet Fund III Pte. Ltd. (as an Investor Selling Shareholder), Accel India IV (Mauritius) Limited (as an Investor Selling Shareholder), and Accel Growth IV Holdings (Mauritius) Ltd. (as an Investor Selling Shareholder).

This section primarily contains declarations from various entities confirming the accuracy of statements made in the Prospectus, rather than detailing specific related party transactions. The declarations involve signatories such as Crimson Winter Limited, Ribbit Capital, TI Fintech Management, LLC, TI JPNIN India Holdco, Ltd., and DI Investment LLC, confirming their role as investors selling shares. No specific transaction details like loans or sales are disclosed in this excerpt.

This section presents an Annexure A, which is a US Resale Letter from Moneyview Limited. The letter pertains to the sale or transfer of equity shares outside the United States and outlines representations and warranties regarding the transaction. Key points include the nature of the purchase of shares for the investor's own account, the location of the offer and sale, and assurances that no directed selling efforts were made in the United States.