Digital lending platform Fibe (formerly EarlySalary) has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).
According to the filing, the Pune-based fintech company plans to raise ₹750 crore through a fresh issue of equity shares, along with an Offer for Sale (OFS) of up to 4 crore shares by existing investors.
The IPO marks another significant milestone for India’s fintech sector, as digital lending platforms continue to tap public markets amid strong investor interest in technology-driven financial services companies.
The proceeds from the fresh issue will primarily be used to strengthen the company’s lending business and support future growth.
Major Investors to Partially Exit
Under the Offer for Sale, TPG’s The Rise Fund will emerge as the largest selling shareholder, offloading up to 1.17 crore shares. Other investors participating include Norwest Capital, Eight Roads Ventures, Chiratae Ventures, Piramal Finance, TR Capital, Sabre Investment Consultants, and Galaxystar Ground.
Following the DRHP filing, The Rise Fund remains Fibe’s largest shareholder with a 23.26% stake, followed by Norwest Capital (13.38%) and Eight Roads Ventures (13.02%). Piramal Finance holds 7.06%, while the International Finance Corporation (IFC) owns 5.31% of the company.
The participation of several early institutional investors reflects a partial monetisation opportunity following years of backing the company’s growth.
Capital to Strengthen Lending Operations
Fibe plans to utilise approximately 75% of the net proceeds (₹562.6 crore) to invest in its material subsidiary ESPL, strengthening its capital base to support future lending requirements.
The remaining funds will be allocated toward general corporate purposes, enabling the company to continue expanding its digital lending ecosystem.
Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers a range of credit products, including personal loans, long-term loans, loans against mutual funds, and financing for healthcare, education, insurance, and rooftop solar installations.
The company leverages artificial intelligence, machine learning, and data science across customer onboarding, underwriting, fraud detection, risk management, and collections to deliver faster and more efficient credit services.
Technology continues to remain at the core of Fibe’s lending and risk assessment strategy.
Strong Financial Growth Ahead of IPO
Fibe reported robust financial performance in FY26, with operating revenue increasing 31% year-on-year to ₹1,585 crore, compared to ₹1,205 crore in FY25.
The company also more than doubled its net profit to ₹257 crore, demonstrating improving profitability as its lending business scaled.
As of March 31, 2026, Fibe reported Assets Under Management (AUM) of ₹8,603 crore, highlighting its growing presence in India’s digital lending market.
The IPO also follows the successful stock market debut of fintech peer Kissht, whose shares have gained significantly since listing. As investor appetite for profitable fintech businesses remains strong, Fibe’s public offering will be closely watched as another key milestone for India’s digital lending ecosystem.