Fibe (Social Worth Technologies) has received SEBI's nod for its ₹750 crore IPO with an OFS of 4 crore+ shares. Revenue rose to ₹1,585 crore in FY26, AUM grew 45% CAGR. Backed by TPG, Norwest, and Eight Roads Ventures. Price band and dates awaited.
Fibe is ready to go public. The Pune-based digital lending platform, operated by Social Worth Technologies Limited, has received its final observation letter from SEBI the regulatory green light that clears the way for its initial public offering.
SEBI has issued its final observations on the proposed IPO, allowing Fibe to move ahead with the public issue process. Price band, lot size, and subscription dates are yet to be announced.
What the IPO Looks Like
The IPO comprises a fresh issue of equity shares worth up to ₹750 crore and an offer for sale of up to 4.01 crore equity shares by existing shareholders. Selling shareholders include The Rise Fund III- the largest seller followed by Norwest Capital and Eight Roads Ventures India.
The company had also kept the option open for a pre-IPO placement of up to ₹150 crore, which would reduce the fresh issue size proportionately.
Where Does the Money Go?
The startup plans to invest ₹562.6 crore in its NBFC arm to support lending, including point-of-purchase finance for education, healthcare, travel, and e-commerce. The remaining proceeds will be used for general corporate purposes.
A Company Built on Salary-Day Lending
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe started out as Early Salary a platform that gave salaried professionals access to quick personal loans before their payday arrived. It has since grown into a full-stack consumer lending platform covering personal loans as well as purpose-driven financing across healthcare, education, and solar rooftop installations.
The company claims to have facilitated more than 9.8 million loans with cumulative disbursements exceeding ₹48,000 crore.
As of March 31, 2026, personal loans made up 77.38% of total AUM, while purpose-driven financing contributed the remaining 22.62%.
The Numbers Tell a Strong Story
Fibe's assets under management grew at a CAGR of 45.49% to ₹8,602.7 crore as of March 31, 2026, from ₹4,064.2 crore as of March 31, 2024.
The IPO-bound company reported ₹1,585 crore in revenue from operations in FY26, up from ₹1,209 crore in FY25. Net profit rose to ₹257.46 crore in FY26 from ₹101.24 crore in FY24 more than doubling in two years. Gross stage-three loans those overdue by 90 days or more came down to ₹63.13 crore from ₹93.17 crore in FY25, a sign that asset quality is improving.
Who's Backing Fibe
Fibe has raised close to $300 million to date. TPG's The Rise Fund III is Fibe's largest shareholder with a 23.26% stake, followed by Norwest Capital and Eight Roads Ventures with about 13% each. International Finance Corporation is also among its backers.
Kotak Mahindra Capital, Axis Capital, DAM Capital Advisors, and JM Financial are the book-running lead managers for the issue.
A Crowded but Growing Space
Fibe joins the queue of digital lending platforms eyeing a stock market debut, alongside Navi, KreditBee, and Moneyview, among others. The segment has seen strong investor interest lately competitor Kissht recently listed and is currently trading at nearly double its issue price, which sets a healthy benchmark for what's coming next.
With SEBI's nod now in hand, all eyes are on Fibe's price band announcement and subscription timeline both expected to be confirmed in the coming weeks.