Fibe Receives SEBI Approval for IPO
Fibe, a digital consumer lending platform run by Social Worth Technologies, has obtained approval from SEBI to advance with its planned initial public offering (IPO). This IPO will consist of a new equity share issue valued at up to Rs 750 crore, along with an offer for sale (OFS) of up to 4.01 crore equity shares by current shareholders, as detailed in the company’s draft red herring prospectus (DRHP).
Details of the IPO
SEBI has provided its final observations regarding the proposed IPO, permitting Fibe to proceed with the public issue process. The company intends to utilise the net proceeds from this new issue to invest in its essential subsidiary, EarlySalary Services Pvt Ltd (ESPL), to enhance its capital base and satisfy its subsequent lending needs. The remaining funds will be allocated for general corporate uses.
Financial Performance
The company poised for the IPO reported a revenue of Rs 1,585 crore from operations in FY26, an increase from Rs 1,209 crore in FY25. Its net profit saw significant growth, more than doubling to Rs 257 crore from Rs 114 crore within the same fiscal year. Interest on loans continued to be the primary revenue source, accounting for nearly 65% of the operating income, while fee and commission income reached Rs 393.5 crore in FY26. Furthermore, Fibe reported an impairment of Rs 420 crore on financial instruments, which includes loan write-offs of Rs 203 crore.
About Fibe
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe provides personal and targeted financing in sectors such as healthcare, education, and solar rooftop installations. The company asserts that it has facilitated over 9.8 million loans, amassing cumulative disbursements exceeding Rs 48,000 crore.
Market Competition
The book-running lead managers for this issue include Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors, and JM Financial. Fibe faces competition from Moneyview, which recently cut its IPO size to Rs 750 crore. Another significant competitor, Moneyview, has recently gone public and is currently trading around Rs 340, which is nearly twice its initial issue price.