Fibe IPO Gets SEBI Nod for ₹750 Crore Fresh Issue and 4.01 Crore-Share OFS
Fibe reported ₹1,584.6 crore operating revenue and ₹257.5 crore net profit in FY26, while its assets under management reached ₹8,602.7 crore as of March 31, 2026.
Digital lending platform Fibe, operated by parent company Social Worth Technologies, has received final observations from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), allowing the company to move to the next stage of its public-market listing process.
SEBI issued its final observations on September 15, 2026, according to the regulator’s processing status. Fibe had filed its draft IPO papers in June 2026. The company has not yet announced the IPO’s price band, subscription dates or listing date.
The proposed IPO comprises a fresh issue of equity shares worth up to ₹750 crore and an offer for sale (OFS) of up to 4.01 crore shares by existing investors. The selling shareholders include TPG-backed The Rise Fund III SF, Norwest Capital, Eight Roads Ventures India, Piramal Finance, Kariba Holdings, IDG Ventures India Fund and Galaxystar Ground, among others.
The largest shareholder, The Rise Fund III SF, plans to sell up to about 1.17 crore shares, while Norwest Capital and Eight Roads Ventures India are also among the major sellers. Proceeds from the OFS will go to the respective selling shareholders rather than to Fibe.
Fibe plans to use ₹562.6 crore from the fresh issue to invest in its material subsidiary, EarlySalary Services Pvt Ltd (ESPL), its NBFC arm. The investment is intended to strengthen ESPL’s capital base and support its onward lending requirements. The remaining fresh-issue proceeds will be used for general corporate purposes.
The company may also consider a pre-IPO placement of up to ₹150 crore before filing its red herring prospectus with the Registrar of Companies. If completed, the amount raised through the placement would be reduced from the fresh issue component.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe was formerly known as EarlySalary. The Pune-based fintech initially focused on small-ticket, short-duration personal loans before expanding into longer-tenure unsecured personal loans and purpose-driven financing across categories such as healthcare, education, insurance, travel and consumption.
Fibe’s financial performance has also strengthened ahead of the proposed listing. The company reported ₹1,584.6 crore in operating revenue in FY26, up 31% from ₹1,208.9 crore in FY25. Its consolidated net profit more than doubled to ₹257.5 crore, compared with ₹113.7 crore a year earlier.
Its assets under management stood at approximately ₹8,602.7 crore as of March 31, 2026, compared with ₹4,064.1 crore in FY24, representing a 45.49% CAGR over the two-year period. Personal loans accounted for 77.38% of total AUM, while purpose-driven financing contributed the remaining 22.62%.
Technology is a central part of Fibe’s lending operations. According to the company’s IPO documents, it uses artificial intelligence, machine learning and data science across customer onboarding, underwriting, risk management, fraud detection, operations and collections.
Fibe has raised more than $250 million in equity funding, including capital from investors such as TPG’s The Rise Fund, Norwest, Eight Roads Ventures, Piramal Finance, Chiratae Ventures and the International Finance Corporation (IFC). In December 2025, IFC invested $35 million in the company.
Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers for the IPO.
The SEBI observations represent an important regulatory milestone, but they do not set the final issue size, price band or listing date. Fibe will need to complete the remaining regulatory and filing requirements before the IPO can open for subscription.