Digital Lending Platform Fibe Gets SEBI's Nod for a Rs 750 Crore IPO After Profit More Than Doubles
Digital consumer lending platform Fibe, operated by Social Worth Technologies and formerly known as EarlySalary, has received SEBI's final observations on September 15, 2026, clearing the way for its proposed initial public offering, after filing its draft red herring prospectus back in June.
Here's how the IPO is structured. It will comprise a fresh issue of equity shares worth up to Rs 750 crore, along with an offer for sale of over 4 crore equity shares by existing shareholders. The company may also consider a pre-IPO placement of up to Rs 150 crore, in which case the fresh issue size would shrink by that same amount. Of the fresh issue proceeds, Rs 562.6 crore is earmarked specifically for its NBFC subsidiary, EarlySalary Services Private Limited, to strengthen its capital base and support onward lending, with the remainder going toward general corporate purposes.
The financial story behind this listing is genuinely strong. Fibe's revenue from operations rose to Rs 1,585 crore in FY26, up from Rs 1,209 crore in FY25, while profit more than doubled to Rs 257 crore from Rs 114 crore a year earlier. Its assets under management have grown even faster, more than doubling from Rs 4,064 crore in FY24 to Rs 8,603 crore as of March 2026, a compound annual growth rate of nearly 45.5%. Personal loans make up the bulk of that book at 77.4%, with purpose-driven financing, covering healthcare, education, and solar rooftop installations, contributing the rest.
The founder story adds context here. Fibe was founded in 2015 by Akshay Mehrotra and Ashish Goyal, and the company says it has facilitated more than 9.8 million loans with cumulative disbursements exceeding Rs 48,000 crore. Its investor base includes International Finance Corporation, TPG and Norwest, while Kotak Mahindra Capital, Axis Capital, DAM Capital Advisors and JM Financial are managing the issue.
The competitive backdrop makes this listing worth watching closely. Fibe is entering public markets right as rival Moneyview halved its own IPO size to Rs 750 crore, and another competitor, Kissht, recently listed and is now trading near double its issue price. India's digital lending space is clearly having its public-market moment, and Fibe is positioning itself to be the next real test of investor appetite in this category.
From personal loans to public markets, Fibe's SEBI nod is another sign that India's digital lenders are ready to prove their business models can hold up under public scrutiny.
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— Sandeep Raiza