Moneyview, Chandan Steel Get Sebi's Approval for IPOs

New Delhi, India Jul 3, 2026 ALN: The Securities and Exchange Board of India (Sebi) has granted approval for the Initial Public Offerings (IPOs) of fintech unicorn Moneyview and Chandan Steel. This milestone showcases a vibrant uptick in India's IPO landscape, with Sebi's approval being a vital step for both entities. The approval signifies a renewed confidence in the market, particularly in the wake of fluctuating investor sentiments and challenges that have characterized the financial landscape in recent years.

Moneyview filed preliminary IPO papers with Sebi in March, while Chandan Steel submitted its draft documents in April. The confidential filing route allows companies to submit draft offer documents to Sebi for review without immediately making commercially sensitive information public. This method has become increasingly popular among companies looking to gauge market conditions before fully committing to an IPO, providing them with a strategic advantage in planning their public offerings.

After reviewing the draft papers submitted by the two firms, the regulator provided its 'observations' between June 29 and July 2, which, in Sebi's terminology, is equivalent to a go-ahead to float the public issue. This regulatory clearance is a critical phase in the IPO process, as it represents the culmination of extensive scrutiny by Sebi, aimed at ensuring that the offerings are compliant with all necessary legal and financial regulations. The approval process is designed to protect investors by ensuring that the information provided by the companies is accurate and comprehensive.

Moneyview's 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 utilize the proceeds from the fresh issue to expand its financial services business. This capital infusion is expected to bolster Moneyview's position in the competitive fintech sector, enabling it to enhance its technological capabilities, expand its product offerings, and reach a wider customer base.

Funds raised will support loan disbursals under Default Loss Guarantee (DLG) arrangements, investment in the company's material subsidiary, Whizdm Finance, to strengthen its capital base, and general corporate purposes. The DLG arrangements are particularly important as they provide a safety net for both the company and its customers, allowing for more robust lending practices while mitigating risks associated with defaults. This strategic approach to funding reflects a growing trend among fintech companies to ensure sustainable growth while managing potential risks effectively.

Founded in 2014 by IIT Delhi graduates Puneet Agarwal and Sanjay Aggarwal, 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. This integrated approach not only enhances user experience but also positions Moneyview to capitalize on the growing demand for digital financial solutions, particularly among younger, tech-savvy consumers who prefer managing their finances through mobile applications.

Meanwhile, oilfield services provider Shivganga Drillers withdrew its draft papers on June 30, as reported by Sebi. This withdrawal highlights the challenges some companies face in the current market environment, where uncertainties and fluctuating investor confidence can lead to hesitancy in pursuing public offerings. The decision to withdraw may reflect a strategic recalibration by Shivganga Drillers, allowing them to reassess their market strategy and potentially re-enter the IPO process at a more favorable time.

This approval for Moneyview and Chandan Steel highlights the growing interest and activity in the Indian IPO market, reflecting a broader trend of companies seeking to raise capital through public offerings. The Indian IPO market has seen a resurgence in recent years, driven by a combination of factors including favorable regulatory changes, increased liquidity in the market, and a strong appetite for equity investments among domestic and international investors. As companies like Moneyview and Chandan Steel prepare to tap into this vibrant market, they are likely to attract significant attention from investors looking for opportunities in sectors that are poised for growth.

The implications of these IPO approvals extend beyond the individual companies involved. They signify a renewed optimism in the Indian economy, which has been navigating through a period of recovery following the disruptions caused by the COVID-19 pandemic. The successful launch of these IPOs could pave the way for other companies to follow suit, further invigorating the capital and encouraging investment in diverse sectors of the economy.

Moreover, the increasing participation of technology-driven companies in the IPO space is indicative of the evolving nature of the Indian economy, where digital transformation is reshaping traditional business models. As fintech companies like Moneyview gain prominence, they are setting a precedent for innovation and disruption in the financial services sector, which could have lasting effects on how consumers interact with financial products and services.

In conclusion, the approval of Moneyview and Chandan Steel's IPOs by Sebi marks a significant development in India's financial landscape. It reflects the growing confidence of investors and the potential for companies to leverage public for growth. As these companies prepare to launch their offerings, they will not only be contributing to their own financial futures but also to the broader narrative of recovery and innovation in India.

Historically, the Indian IPO market has experienced cycles of boom and bust, influenced by various macro factors, regulatory changes, and market sentiment. The resurgence witnessed in recent years can be attributed to several factors, including a favorable environment, low-interest rates, and a growing middle class with increased disposable income. Additionally, the government's push for initiatives such as 'Make in India' and 'Digital India' has further fueled investor interest in companies that align with these themes.

The COVID-19 pandemic posed unprecedented challenges to the global economy, including the Indian market. Many companies were forced to delay or reconsider their IPO plans due to uncertainty and market volatility. However, as the economy gradually recovers, there is an increasing belief that the IPO market can play a crucial role in facilitating capital formation and providing companies with the necessary resources to grow and innovate.

The approval of these IPOs also underscores the importance of regulatory bodies like Sebi in maintaining market integrity and investor confidence. By ensuring that companies adhere to stringent disclosure norms and financial regulations, Sebi plays a pivotal role in fostering a transparent investment environment. This regulatory oversight is vital, especially in a rapidly evolving market landscape where new business models and technologies are emerging.

Looking ahead, the success of Moneyview and Chandan Steel's IPOs could inspire a wave of new listings, particularly from sectors that have shown resilience and growth potential during the pandemic. Companies in technology, healthcare, and renewable energy are likely to be at the forefront of this trend, as investors seek to capitalize on the opportunities presented by these dynamic industries. As the Indian economy continues to recover and adapt to new realities, the IPO market is expected to remain a critical avenue for companies seeking to raise capital and expand their operations.

In summary, the recent approval of IPOs for Moneyview and Chandan Steel represents not only a significant milestone for the respective companies but also a broader indicator of the health and vitality of the Indian IPO market. As these companies prepare for their public offerings, they are poised to make meaningful contributions to the landscape while attracting investor interest in a recovering market.