Fibe IPO has cleared its final regulatory hurdle. SEBI has issued its final observations on the proposed public offering, allowing the digital consumer lending platform to move ahead with the listing process. The issue will have a fresh issue of equity shares worth up to Rs 750 crore and an offer for sale of up to 4.01 crore shares by existing shareholders.
What the issue looks like
The details come from the company’s draft red herring prospectus. Fibe is operated by Social Worth Technologies. The fresh issue money will fund investments in its material subsidiary, EarlySalary Services, to strengthen its capital base and meet lending requirements. The rest will go towards general corporate purposes.
Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors and JM Financial are the book running lead managers to the issue.
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A profit that more than doubled
Fibe reported revenue from operations of Rs 1,585 crore in FY26, up from Rs 1,209 crore in FY25. Net profit more than doubled to Rs 257 crore from Rs 114 crore. Interest on loans remained the biggest revenue source, contributing nearly 65% of operating revenue, while fee and commission income stood at Rs 393.5 crore.
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There is a caveat in the same accounts. The company reported Rs 420 crore in impairment on financial instruments, which included Rs 203 crore in loan write offs. For a lender, that number is the price of growth in a business where some borrowers always slip.
Nine years, 9.8 million loans
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers personal and purpose led financing across healthcare, education and solar rooftop installations. The company says it has facilitated more than 9.8 million loans, with cumulative disbursements of over Rs 48,000 crore.
Why it matters
Fibe is one of a growing line of lending startups heading for the public markets, and the market is no longer rewarding growth alone. What helps Fibe is that it brings both sides of the story to investors. The loan book has scaled fast, and the profit line has doubled. The impairment figure is the reminder that this business always carries credit risk. India needs more lending into healthcare, education and rooftop solar, and the IPO will tell us how much investors are willing to pay for that growth.