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Digital consumer lending platform Fibe, operated by Social Worth Technologies, has received SEBI’s nod to proceed with its proposed initial public offering (IPO). The IPO will comprise a fresh issue of equity shares worth up to Rs 750 crore and an offer for sale (OFS) of up to 4.01 crore equity shares by existing shareholders, according to the company’s draft red herring prospectus (DRHP). SEBI has issued its final observations on the proposed IPO, allowing Fibe to move ahead with the public issue process. The company plans to use the net proceeds from the fresh issue to fund investments in its material subsidiary, EarlySalary Services Pvt Ltd (ESPL), to augment its capital base and meet its onward lending requirements. The remaining proceeds will be used for general corporate purposes. The IPO-bound company reported Rs 1,585 crore in revenue from operations in FY26, up from Rs 1,209 crore in FY25. Its net profit more than doubled to Rs 257 crore from Rs 114 crore during the same period. Interest on loans remained its largest revenue source, contributing nearly 65% of operating revenue, while fee and commission income stood at Rs 393.5 crore in FY26. Fibe also reported Rs 420 crore in impairment on financial instruments, including Rs 203 crore in loan write-offs. Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers personal and purpose-led financing across areas including healthcare, education and solar rooftop installations. The company claims to have facilitated more than 9.8 million loans with cumulative disbursements exceeding Rs 48,000 crore. Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers to the issue. Fibe competes with Moneyview, which today halved its IPO size to Rs 750 crore. Another key competitor, Kissht, recently got listed and is currently trading at around Rs 340, nearly double its issue price.
document fetched 2026-09-16 02:57