Fibe files IPO papers; plans ₹750 crore fresh issue, 40 million-share OFS

Digital lender's proposed public issue comprises a Rs 750 crore fresh issue and an offer-for-sale of more than 40 million shares by existing investors

Digital lending firm Fibe filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO), which includes a fresh issue of ₹750 crore and an offer-for-sale (OFS) component of more than 40 million shares.

 

Investors, including TPG-backed The Rise Fund III, Norwest Capital, Eight Roads Ventures India and Piramal Finance, among others, are selling their shares in the offer-for-sale component.

 

The Rise Fund III is the largest selling shareholder, offloading up to 11.7 million shares, followed by Norwest Capital with 6.73 million shares and Eight Roads Ventures India with 6.55 million shares.

 

 

Fibe joins the queue of digital lending platforms eyeing a stock market debut, alongside Navi, KreditBee and Moneyview, among others.

 

The Pune-based fintech company, co-founded by Akshay Mehrotra and Ashish Goyal, may consider a pre-IPO round of up to ₹150 crore, according to details in the DRHP.

 

Mehrotra and Goyal each hold a 2.1 per cent stake and a 1.75 per cent stake, respectively, in the company.

 

The Rise Fund III is the largest shareholder, with a 23.26 per cent stake, followed by Norwest Capital with 13.38 per cent and Eight Roads Ventures India with 13.02 per cent.

 

The company intends to invest ₹562.6 crore in its material subsidiary, EarlySalary Private Limited (ESPL), the firm's licensed non-banking financial company (NBFC) arm, to strengthen its capital base for lending operations. The rest of the proceeds will be utilised for general corporate purposes.

 

Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors, and JM Financial have been appointed as the merchant bankers for the Fibe IPO.

 

Fibe's total assets under management (AUM), including personal loans and purpose-driven financing (PDF), stood at ₹8,602.73 crore in FY26, up from ₹4,064.15 crore in FY24.

 

The company said disbursements in FY26 stood at ₹15,737.95 crore, compared with ₹9,392.83 crore in FY24.