Lending Tech Startup Fibe Secures SEBI Approval for ₹750 Crore IPO
India's Securities and Exchange Board of India (SEBI) has granted final approval for lending tech startup Fibe's (formerly EarlySalary) proposed Initial Public Offering (IPO) of over ₹750 crore.
The Securities and Exchange Board of India (SEBI) has given its go-ahead for lending tech startup Fibe, previously known as EarlySalary, to proceed with its Initial Public Offering (IPO). The planned IPO is valued at over ₹750 crore (approximately $90 million USD).
SEBI's issuance of final observations signals regulatory clearance for Fibe's parent company, Social Worth Technologies Ltd, to launch its public issue. The draft red herring prospectus filed in June outlines a fresh issue of shares worth up to ₹750 crore, along with an offer-for-sale component involving more than 4 crore equity shares. This IPO is expected to provide a significant liquidity event for existing investors, including TPG, Norwest Capital, and Eight Roads Ventures.
Fibe intends to allocate ₹562.6 crore from the IPO proceeds to its non-banking financial company subsidiary, EarlySalary Services Pvt Ltd, over the next two fiscal years. This capital infusion aims to bolster the subsidiary's capital base and support its lending requirements. The remaining funds will be used for general corporate purposes. The company may also consider a pre-IPO placement of up to ₹150 crore.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe operates a digital lending platform offering personal loans and financing solutions across various sectors like education, healthcare, and e-commerce. For the fiscal year ending March 31, 2026, Fibe reported a net profit of ₹257.5 crore, more than doubling from ₹113.7 crore in the previous year. Its operating revenue grew 31% to ₹1,584.6 crore, and assets under management reached ₹8,602.7 crore.