Digital lender Fibe has filed for an Indian initial public offering, draft papers dated Monday showed, seeking to raise funds as the TPG-backed firm looks to expand lending to middle-income consumers in the world’s most populous country.
Pune-based Social Worth Technologies, parent of Fibe, said it will issue new shares to raise up to 7.5 billion rupees ($79.33 million), while existing shareholders are looking to sell up to 40.1 million shares.
TPG’s The Rise Fund III, Fibe’s largest shareholder with a roughly 23% stake, along with Norwest Capital and Eight Roads Ventures, which own about 13% each, and Piramal Finance, with about 7%, are among investors selling part of their holdings in the IPO.
Social Worth Technologies, which competes with companies such as KrazyBee Services and Moneyview, reported a 31% jump in revenue to 15.85 billion rupees for fiscal 2026, while profit more than doubled to 2.57 billion rupees.
As of March 31, 2026, the company had assets under management of 86.03 billion rupees and more than 1.26 million unique active customers. Its total gross loans stood at 52.4 billion rupees, up from 22.87 billion rupees as of March 31, 2024.
The company will use IPO proceeds to invest in EarlySalary Services, its lending arm, to strengthen the unit’s capital base and support lending growth.
Moneycontrol reported earlier on Monday that Fibe was looking to file for an IPO of up to 20 billion rupees. Fibe did not immediately respond to a Reuters request for comment on the IPO size or a targeted valuation.
Kotak Mahindra Capital, Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers to the issue.
($1 = 94.5400 Indian rupees)
Reuters
