Moneyview IPO öncesi yöneticiye tek seferlik ödül nedeniyle 120 crore zarar ve yüzde 30’un üzerinde düşüşün etkisi

Kısaca

Moneyview 160 crore değerinde bir tek seferlik ödül ödedi; FY26 net karında yaklaşık 120 crore bir düşüş kaydedildi RHP’de bu ödemenin olağandışı kalem olarak raporlandığı belirtildi; vergisel etki yaklaşık 40 crore oldu IPO boyutu 1.092 crore’a indirildi; fiyat bandı 32-34 rupiye belirlendi; açılış bekleniyor

Ana mesele

Bir yöneticiye tek seferlik performans priminin FY26 net kara etkisi

Ne değişti?

İlave gider nedeniyle net karında yaklaşık 120 crore düşüş ve primin istisnai kalem olarak raporlanması

Beni nasıl etkiler?

Yatırımcılar için volatilite artabilir; şirketin net karlılığı ve IPO değeri etkilenebilir

Ne oldu?

Moneyview, Yönetim Kurulu Başkanı ve CEO Puneet Agarwal’a yıl başında tek seferlik performans bazlı bir ödül ödemesi yaptı; FY26’da net kar yaklaşık 120 crore geriledi.

Neden şimdi?

RHP’de ödemenin olağanüstü kalem olarak gösterilmesi ve IPO sürecindeki mali yapının bu ödüle nasıl yansıdığı açıklıkları nedeniyle dikkat çekiyor.

Neden önemli?

Yatırımcı güveni ve karlılık görünümü üzerinde kısa vadeli baskı oluşturabilir; halka arz maliyetleri ve değerlemeyi etkileyebilir.

Kimler etkileniyor?

• Yatırımcılar (halka arz katılımcıları)
• Moneyview yönetimi ve çalışanları

Sektör ve piyasa etkisi

Fintech ve dijital kredi platformlarının halka arzı açısından dikkat çekici bir örnek; benzer durumlarda piyasa tepkisi belirleyici olabilir.

Riskler

• Birim maliyetlerin artması
• Gelecekte benzer ödüllerin riskli olarak algılanması
• Regülasyon ve şeffaflık konularında yatırımcı baskısının artması

Takip edilmesi gerekenler

• RHP’deki açıklamaların netleşmesi
• IPO büyüklüğü ve talep-gidişat verilerinin güncellenmesi
• Şirketin sonraki finansal tablolarında tek seferlik etkilerin karşısının nasıl kapanacağı

Haberin tamamı

IPO-bound Moneyview paid Rs 160 crore as a one-time performance-based incentive to its Managing Director and CEO Puneet Agarwal earlier this year, which decreased its FY26 net profit, the company’s red herring prospectus (RHP) filed with Sebi revealed.The company in its IPO papers said the one time incentive was disclosed as an exceptional item in its financial statements for FY26.

Accordingly, its expenses increased and profit decreased by nearly Rs 120 crore, representing more than 30% of the firm’s profit for the year before exceptional items.“This one-time performance-based incentive has been factored into the pre-offer net worth of our company and does not impact the objects of the offer,” Moneyview clarified.

The one-time incentive was paid to Puneet Agarwal for his continued leadership, performance and contributions to the overall growth of the company, it further said in its RHP.Also Read | Accel, Ribbit eye multifold returns from Moneyview IPONo plans to pay such incentives in near-future: MoneyviewThe performance-based incentive is a one-time payment and non-recurring in nature, Moneyview said in its RHP, adding that it currently has no plans to make any such one-time performance-based incentive in the future.Moneyview listed Rs 120 crore as the exception item, net of tax, for its financials for FY2026, accounting for the one-time incentive to the chief executive officer.

The consequential tax impact of over Rs 40 crore was included within tax expense as an exceptional item.Overall, Moneyview reported a net profit of Rs 242.7 crore for the financial year which ended on March 31, 2026, as against Rs 240 crore reported in FY25 and Rs 171 crore for FY24. Its profit before tax meanwhile stood at Rs 397 crore in FY26, sharply higher than the Rs 240 crore reported in the year ago.Also Read | Tiger Global-backed Moneyview sets IPO price band for Rs 1,092-crore offer.

Check key dates, other detailsKey things to know about Moneyview IPOMoneyview has reduced the size of its IPO to Rs 1,092 crore from Rs 1,500 crore earlier, with the price band now being fixed at Rs 32-34 per equity share.

The maiden public issue of the digital lending platform is set to open for public bidding on September 24 and close on September 28, with the shares of the company scheduled to make their market debut on BSE and NSE on October 1.The initial public offering of Moneyview comprises a fresh issue of shares worth Rs 750 crore and an offer for sale (OFS) of 10.05 crore equity shares, valued at Rs 342 crore at the higher end of the issue price, by existing shareholders.

Promoters Puneet Agarwal and Sanjay Aggarwal will sell up to 1.35 crore shares each, while Accel, Tiger Global and Ribbit Capital are also selling stakes. We are a profit-making company. We have shown a very strong consistent trajectory of profit growth with about Rs 400 crore of profit after taxes before exceptional items in FY26, Moneyview CEO Puneet Agrawal told PTI in an interview.

There is sufficient cash already in the business and with this Rs 750 crore we would be very comfortable to continue on the trajectory that we are at, and hence we decided to reduce this, he added while speaking about the company’s decision to slash the IPO size.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.Also Read | Strong profit growth prompted Moneyview to reduce IPO size: MD & CEO AgrawalDisclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser.

Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.

They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.

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• Economic Times - Markets