Quick Take
- SEBI cleared the Rs 750 Cr fresh issue and a 4.007 Cr share OFS for Fibe parent Social Worth Technologies.
- Fibe’s net profit doubled to Rs 257.5 Cr in FY26, from Rs 113.7 Cr a year earlier.
- Fibe plans to put Rs 562.6 Cr from the fresh issue into its NBFC arm over two years.
Markets regulator SEBI has cleared the IPO of lending tech startup Fibe, formerly known as EarlySalary. The clearance came on September 15, 2026.
SEBI issued its final observation on the offer documents of Fibe parent Social Worth Technologies Ltd. In SEBI parlance, that final observation is the go-ahead to open a public issue. The regulator’s processing status confirms it.
Fibe filed its draft red herring prospectus, or DRHP, on June 29, 2026. The clearance is a separate step. A filing starts the review. The observation ends it.
The issue has two parts. There is a fresh issue of shares worth up to Rs 750 Cr. There is also an offer-for-sale, or OFS, of more than 4 Cr shares by existing investors.
What did SEBI clear for Fibe?
SEBI cleared a book-built IPO with a fresh issue of up to Rs 750 Cr and an OFS of up to 4.007 Cr equity shares. Each share has a face value of Rs 5. The price band and dates are not yet set.
The fresh issue money has a clear job. Fibe plans to invest Rs 562.6 Cr in its NBFC subsidiary, EarlySalary Services Pvt Ltd. That spend runs over the next two financial years. It will build the subsidiary’s capital base and fund its lending.
The rest of the fresh proceeds go to general corporate purposes. Fibe may also raise up to Rs 150 Cr in a pre-IPO placement.
Who is selling shares in the IPO?
The OFS gives Fibe’s early backers a way to cash out. TPG is the largest selling shareholder. It plans to offload up to 1.17 Cr shares through its entity The Rise Fund III SF Pte Ltd.
Two more investors are paring stakes. Norwest Capital plans to sell up to 67.38 Lakh shares. Eight Roads Ventures plans to sell up to 65.56 Lakh shares.
Others are joining the OFS too. Piramal Finance, TR Capital, IDG Ventures and Chiratae Ventures are among the sellers. TPG’s Rise Fund III is Fibe’s largest shareholder, with a 23.26% stake. Norwest Capital and Eight Roads Ventures hold about 13% each.
The founders hold small stakes. Cofounder and chief executive Akshay Mehrotra owns 2.1%. Cofounder and chief financial officer Ashish Goyal holds 1.75%. In April 2026, the two together sold Rs 113.23 Cr of stock in secondary deals.
How strong are Fibe’s financials?
Fibe goes to market as a profitable lender. Net profit more than doubled to Rs 257.5 Cr in FY26. A year earlier it was Rs 113.7 Cr.
Revenue grew alongside profit. Operating revenue rose 31% to Rs 1,584.6 Cr in FY26. In FY25 it was Rs 1,208.9 Cr.
The loan book tells the growth story best. Assets under management reached Rs 8,602.7 Cr as of March 31, 2026. That is up from Rs 4,064.2 Cr as of March 31, 2024. The two-year growth rate works out to 45.49% a year.
| Metric | FY25 | FY26 |
|---|---|---|
| Net profit | Rs 113.7 Cr | Rs 257.5 Cr |
| Operating revenue | Rs 1,208.9 Cr | Rs 1,584.6 Cr |
| Assets under management | Not disclosed | Rs 8,602.7 Cr |
| Fresh issue size | Not applicable | Rs 750 Cr |
What does Fibe do?
Fibe runs a digital consumer lending platform. Akshay Mehrotra and Ashish Goyal founded it in 2015. It started as EarlySalary and rebranded to Fibe in September 2022.
The lending goes beyond plain personal loans. Fibe embeds finance at the point of purchase. That covers education, insurance, healthcare, rooftop solar, travel and ecommerce.
Fibe has raised close to $300 Mn to date. It is the third lending tech startup to file for a 2026 listing, after Kissht and Aye Finance. The sector is testing public markets in a way it never has before.
What this means for you: If you are a founder or investor in lending tech, watch Fibe’s price band and grey market response closely. It will set the valuation benchmark for the digital lenders filing behind it.
StartupFeed Insight
The number that matters here is not the Rs 750 Cr headline. It is the Rs 562.6 Cr going straight into the NBFC arm. That tells you this IPO is about lending firepower, not a founder payday. The founders already took Rs 113.23 Cr off the table in April, so the fresh issue is capital to grow the book, not to exit. Fibe is the third lending tech name to file in 2026, after Kissht and Aye Finance. Its price band will be the real test. If Fibe prices near its reported $1 Bn tag on a Rs 257.5 Cr profit, expect the lenders behind it to move fast. Watch for the price band before December 2026.
— Avinash Mishra, Business Correspondent
Frequently Asked Questions
Have a tip? Write to us at editorial@startupfeed.in.
Disclaimer: This article is for information only and is not investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. Please speak to a SEBI-registered advisor before investing.
Liked this story? Follow StartupFeed on Google so our reporting reaches you first.
