Digital Lending Platform Seeks Fresh Capital as Revenue Grows 31% and Profit More Than Doubles in FY26
Pune based fintech startup Fibe, operated by Social Worth Technologies Limited, has taken a major step toward its public market debut by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company plans to raise ₹750 crore through a fresh issue of equity shares, alongside an Offer for Sale (OFS) of up to 4 crore shares by existing investors.
The IPO comes at a time when investor confidence in India’s digital lending sector is improving, supported by stronger financial performance and growing demand for technology-driven credit solutions. Fibe has also reported robust growth in FY26, with revenue increasing by 31% and net profit more than doubling year-on-year.
What Does Fibe’s IPO Include?
According to the DRHP, the IPO will comprise two components: a fresh issue of ₹750 crore and an Offer for Sale (OFS) of up to 4 crore equity shares by existing shareholders.
Among the selling shareholders, TPG’s The Rise Fund will offload up to 1.17 crore shares, making it the largest participant in the OFS. Other investors reducing their holdings include Norwest Capital, Eight Roads Ventures, Chiratae Ventures, Piramal Finance, TR Capital (Kariba Holdings V Mauritius II), Sabre Investment Consultants, and Galaxystar Ground.
The IPO will be managed by Kotak Mahindra Capital Company Limited, Axis Capital Limited, DAM Capital Advisors Limited, and JM Financial Limited, which have been appointed as the book-running lead managers.
How Will Fibe Use the IPO Proceeds?
The company intends to deploy the majority of the fresh capital toward expanding its lending operations.
Approximately 75% of the net proceeds, or around ₹562.6 crore, will be invested in its material subsidiary ESPL to strengthen its capital base and support future lending requirements.
The remaining funds will be utilized for general corporate purposes, including business expansion, technology investments, and operational growth.
Strengthening the lending business is expected to help Fibe scale its loan book while meeting increasing consumer demand for digital credit products.
What Does Fibe Do?
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe formerly known as EarlySalary is one of India’s leading digital lending platforms.
The company offers a wide range of financial products, including personal loans, long-term loans, loans against mutual funds, and purpose driven financing across sectors such as healthcare, education, insurance, and solar rooftop installations.
Fibe leverages artificial intelligence (AI), machine learning, and data science across customer onboarding, credit underwriting, fraud detection, risk assessment, and collections. These technologies enable faster loan approvals and more efficient credit delivery while improving risk management.
The company’s technology-first approach has helped it build a scalable lending platform serving millions of borrowers across India.
Strong Financial Performance Ahead of IPO
Fibe enters the public markets with improving financial fundamentals.
For the financial year ended March 2026, the company reported operating revenue of ₹1,585 crore, representing a 31% increase compared to ₹1,205 crore in FY25.
Even more significantly, the company’s net profit more than doubled during the same period, reaching ₹257 crore, highlighting improving operational efficiency and stronger business performance.
As of March 31, 2026, Fibe reported Assets Under Management (AUM) of ₹8,603 crore, reflecting the rapid expansion of its lending portfolio.
The strong financial results are likely to strengthen investor confidence as the company prepares for its stock market debut.
Who Owns Fibe?
According to the DRHP, TPG’s The Rise Fund is currently Fibe’s largest shareholder with a 23.26% stake.
It is followed by Norwest Capital with 13.38%, Eight Roads Ventures with 13.02%, Piramal Finance with 7.06%, TR Capital through Kariba Holdings with 5.92%, and the International Finance Corporation (IFC) with a 5.31% stake.
The participation of several prominent institutional investors reflects long-term confidence in Fibe’s digital lending business.
What Does This Mean for India’s Fintech IPO Market?
Fibe’s IPO filing comes amid renewed momentum in India’s fintech sector.
Recently, digital lending platform Kissht made a strong stock market debut, listing at a 12% premium to its issue price of ₹171. Since listing, its shares have risen more than 63%, reaching around ₹279 and taking its market capitalization to nearly ₹4,698 crore.
The strong performance of listed fintech companies could improve investor sentiment ahead of Fibe’s IPO.
With profitable operations, strong revenue growth, a diversified lending portfolio, and technology-driven underwriting capabilities, Fibe appears well positioned to attract investor interest as it prepares for its public market debut.
The upcoming IPO will also serve as another important milestone in the evolution of India’s rapidly expanding digital lending ecosystem.
