SEBI has cleared the draft IPO papers of Fibe, the digital lender formerly known as EarlySalary, clearing the way for a fresh issue of up to ₹750 Cr and an offer for sale of more than 4 crore shares, Inc42 reported.

The company, now run by parent Social Worth Technologies Ltd, filed its DRHP in June. TPG is the largest selling shareholder, offloading up to 1.17 crore shares through The Rise Fund III SF Pte Ltd. Norwest Capital plans to sell up to 67.38 lakh shares and Eight Roads Ventures up to 65.56 lakh shares. Piramal Finance, TR Capital, IDG Ventures and Chiratae Ventures are also trimming stakes through the OFS.

Of the fresh issue, ₹562.6 Cr is earmarked for Fibe’s NBFC arm, EarlySalary Services Pvt Ltd, over the next two fiscal years to build its lending capital base. The remainder is for general corporate purposes. Fibe may also raise up to ₹150 Cr in a pre-IPO placement, according to Inc42.

Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe runs a digital consumer lending platform and embedded financing at the point of purchase across education, insurance, healthcare, rooftop solar, travel and ecommerce. It has raised close to $300 Mn to date, Inc42 reported.

Profit, Revenue And AUM

Net profit more than doubled to ₹257.5 Cr in FY26 from ₹113.7 Cr in FY25. Operating revenue grew 31% to ₹1,584.6 Cr from ₹1,208.9 Cr. Assets under management rose at a 45.49% CAGR to ₹8,602.7 Cr as of March 31, 2026, from ₹4,064.2 Cr as of March 31, 2024.

The clearance lands months after fintech peer Moneyview cut its own IPO fresh issue to ₹750 Cr, per Entrackr, following its SEBI nod, with its investors also trimming OFS allocations. Fibe’s fresh-issue figure now matches that ₹750 Cr mark exactly, though its OFS, running past 4 crore shares across seven selling investors, is structured differently from Moneyview’s.

Both lenders are heading to public markets within the same window, giving investors a rare side-by-side on fresh-issue sizing in India’s listed-fintech pipeline. Fibe’s DRHP, filed in June, and its FY26 profit figure of ₹257.5 Cr stand as the two hardest numbers on the table until the red herring prospectus follows.

Sources

  • Inc42: SEBI approval, IPO structure, investor OFS details, use of funds, financials and AUM figures.
  • Entrackr: Moneyview’s revised IPO fresh-issue figure and OFS trim, used for comparison.

Reporting compiled and contextualised by TechScoop India. Figures reconciled across the sources above.

Originally reported by Inc42.