Highlights
Social Worth Technologies IPO Plans for Fibe Digital Lending
Social Worth Technologies Limited is preparing for an initial public offering (IPO) for its digital lending platform, Fibe, previously known as EarlySalary. The company has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) aiming to secure Rs 750 crore through a combination of fresh share issuance and an offer for sale (OFS) of up to 4 crore equity shares.
Key Details of the Fibe IPO
The offer for sale will include TPG (The Rise Fund) as the principal selling shareholder, intending to sell up to 1.17 crore shares. Other notable investors joining the sale are Norwest Capital with 67.38 lakh shares, Eight Roads Ventures with 65.56 lakh shares, Chiratae Ventures holding 39.37 lakh shares, Piramal Finance with 35.58 lakh shares, TR Capital (Kariba Holdings V Mauritius II) offering 29.81 lakh shares, Sabre Investment Consultants with 20.17 lakh shares, and Galaxystar Ground holding 13.12 lakh shares.
Utilisation of Proceeds
Social Worth Technologies plans to allocate 75% of the net proceeds, approximately Rs 562.6 crore, to enhance its investment in its material subsidiary, ESPL. This investment aims to strengthen its capital base for continued lending activities. The remaining funds will be directed towards general corporate needs.
The issue is being managed by renowned firms including Kotak Mahindra Capital Company Limited, Axis Capital Limited, DAM Capital Advisors Limited, and JM Financial Limited.
Fibe was co-founded in 2015 by Akshay Mehrotra and Ashish Goyal, and it serves as a digital lending platform offering various loan products. These include personal loans, long-term loans, loans against mutual funds, and financing for healthcare, education, insurance, and solar rooftop installations. The firm employs AI, machine learning, and data science to streamline customer onboarding, underwriting, risk management, fraud detection, and collections, thereby providing credit products effectively and efficiently.
As of the DRHP filing, TPG’s The Rise Fund is the predominant shareholder in Fibe, holding a 23.26% stake. This is followed by Norwest Capital and Eight Roads Ventures, which possess stakes of 13.38% and 13.02%, respectively. Piramal Finance holds 7.06%, while TR Capital, through Kariba Holdings, has a 5.92% stake. The International Finance Corporation (IFC) has a 5.31% ownership in the company.
Financial Performance
In terms of financial results, for the fiscal year concluding in March 2026, Fibe experienced a 31% year-on-year surge in operating revenue, amounting to Rs 1,585 crore, up from Rs 1,205 crore in FY25. Furthermore, its net profit more than doubled to reach Rs 257 crore.
The company reports having assets under management (AUM) of Rs 8,603 crore as of March 31, 2026.
Market Context
Fibe faces competition from Kissht, which recently entered the stock market, debuting at a 12% premium over its issue price of Rs 171. Since its listing, Kissht’s stock has increased by more than 63%, currently trading around Rs 279 as of 2:20 PM on June 30, resulting in a market capitalisation of Rs 4,698 crore.
