Fibe gets Sebi approval for Rs 750 crore IPO

Digital lending startup Fibe has received approval from the Securities and Exchange Board of India (Sebi) for its proposed initial public offering comprising a fresh issue of up to Rs 750 crore and an offer for sale of 40.07 million shares by existing investors.

According to its draft red herring prospectus, Fibe’s major investors including TPG’s The Rise Fund, Norwest Venture Partners, Chiratae Ventures, Piramal Finance and Eight Roads Ventures are selling shares as part of the public offering.

The Pune-based company plans to invest Rs 562.6 crore from the fresh proceeds in EarlySalary Services Pvt Ltd (ESPL), its non-banking financial company arm, to augment its capital base and support onward lending. The remaining proceeds will be used for general corporate purposes.


Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe was previously known as EarlySalary. It started as a small-ticket, short-duration personal loan provider and has since expanded into longer-tenure unsecured personal loans and purpose-linked financing across healthcare, education, insurance and other consumption categories.

The company has raised more than $250 million in equity, including secondary transactions, and is backed by TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance, Chiratae Ventures and International Finance Corporation (IFC).

In December 2025, Fibe raised $35 million from International Finance Corporation. Before that, it raised $90 million in June 2024 in a mix of primary and secondary capital from TR Capital, Trifecta Capital and Amara Partners, along with existing investors. That round valued the company at more than $500 million, ET had reported.

Fibe reported operating revenue of Rs 1,584 crore in FY26 and net profit of Rs 257 crore. Its assets under management stood at Rs 8,603 crore as of March 2026, more than doubling from Rs 4,064 crore two years earlier. Personal loans accounted for about 77% of its loan book, with purpose-driven financing making up the rest.