Digital Lender Fibe Secures SEBI Approval for Rs 750 Crore IPO

Digital consumer lending platform Fibe, operated by Social Worth Technologies Ltd, has secured final observations from the Securities and Exchange Board of India to proceed with its initial public offering. The upcoming public issue comprises a fresh issuance of equity shares worth up to Rs 750 crore alongside an offer-for-sale of over four crore equity shares by existing shareholders, according to the company's draft red herring prospectus.

The Pune-based lender filed its draft registration papers with the market regulator in June and received its final regulatory observations on September 15. Obtaining observations represents a critical milestone in India's regulatory approval pipeline, clearing the issuer to initiate subsequent groundwork for its public float subject to applicable compliance requirements.

Under the terms outlined in the draft prospectus, the primary capital raised from the fresh issue will be funneled directly into the company's material subsidiary, EarlySalary Services Pvt Ltd. This capital injection is designed to augment the subsidiary's capital base to support onward lending requirements across its consumer credit channels. Any remaining capital from the fresh share sale has been earmarked for general corporate purposes.

The public offering is managed by a consortium of four book-running lead managers. Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors and JM Financial have been appointed to oversee the structuring and execution of the share sale.

Incorporated in 2015 by founders Akshay Mehrotra and Ashish Sohan Goyal, the platform expanded its service scope beyond traditional personal loans in 2021 by introducing purpose-driven financing options. The company's assets under management expanded at a compound annual growth rate of 45.49 per cent, reaching Rs 8,603 crore as of March 31, 2026, up from Rs 4,064 crore two years prior.

Financial performance figures show operating revenue climbing to Rs 1,585 crore for fiscal year 2026, compared to Rs 1,209 crore in the preceding fiscal period. Net profit more than doubled over the same timeframe, reaching Rs 257.46 crore in FY26 compared to Rs 101.24 crore in FY24. As of the end of March 2026, personal credit products constituted 77.38 per cent of total assets under management, while purpose-driven financing categories accounted for the remaining 22.62 per cent.

Operations across the platform rely heavily on automated systems, with artificial intelligence, machine learning and data science deployed across multiple operational verticals. The company utilizes these technologies for customer onboarding, credit underwriting, risk management, fraud detection, day-to-day operations and debt collections.

The enterprise counts several institutional investors among its backers, including the International Finance Corporation, TPG Inc and Norwest. The platform competes within India's digital lending sector alongside peers such as Moneyview, which recently halved its planned IPO size to Rs 750 crore, and Kissht, which completed its stock exchange listing.

With regulatory clearance secured from the market regulator, the issuer will finalize its timeline for institutional roadshows, anchor investor allocations and the opening dates for public bidding. Further updates regarding share price bands and issue timing will be detailed in the red herring prospectus filed prior to the launch.