Moneyview has filed preliminary papers with capital markets regulator -- Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 1,500 crore and an offer for sale (OFS) of up to 13.6 crore equity shares by existing shareholders.

The company plans to utilise the proceeds from the fresh issue to expand its financial services business. Of the total, Rs 650 crore will be used to support loan disbursals under Default Loss Guarantee (DLG) arrangements, while Rs 450 crore will be invested in its material subsidiary, Whizdm Finance, to strengthen its capital base and the remaining funds will be used for general corporate purposes. Axis Capital, BofA Securities India, IIFL Capital Services and Kotak Mahindra Capital Company are the book-running lead managers for the IPO.

Moneyview operates a digital-first fintech platform focused on consumer lending and financial services. Its mobile application offers a range of financial products across borrowing, payments, investments and insurance, allowing users to access multiple services on a single platform.