Social Worth Technologies Limited, which operates digital lending platform Fibe (formerly EarlySalary), has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). According to the DRHP, the Pune-based firm plans to raise Rs 750 crore through a fresh issue of shares along with an offer for sale (OFS) of up to 4 crore equity shares. Under the OFS, TPG (The Rise Fund) will be the largest selling shareholder, offloading up to 1.17 crore shares. Other investors participating in the offer include Norwest Capital (67.38 lakh shares), Eight Roads Ventures (65.56 lakh shares), Chiratae Ventures (39.37 lakh shares), Piramal Finance (35.58 lakh shares), TR Capital (Kariba Holdings V Mauritius II) (29.81 lakh shares), Sabre Investment Consultants (20.17 lakh shares), and Galaxystar Ground (13.12 lakh shares). The company plans to utilise 75% of the net proceeds, or Rs 562.6 crore, to fund its investment in material subsidiary ESPL for augmenting its capital base to meet onward lending requirements. The remaining proceeds will be used for general corporate purposes. Kotak Mahindra Capital Company Limited, Axis Capital Limited, DAM Capital Advisors Limited and JM Financial Limited are the book running lead managers to the issue. Co-founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe is a digital lending platform that offers personal loans, long-term loans, loans against mutual funds, and purpose-driven financing across categories such as healthcare, education, insurance, and solar rooftop installations. The company leverages AI, machine learning, and data science across customer onboarding, underwriting, risk management, fraud detection, and collections to deliver credit products quickly and efficiently. As of the DRHP filing, TPG's The Rise Fund is Fibe's largest shareholder with a 23.26% stake, followed by Norwest Capital and Eight Roads Ventures, which hold 13.38% and 13.02%, respectively. Piramal Finance owns 7.06%, while TR Capital, through Kariba Holdings, holds 5.92%. The International Finance Corporation (IFC) owns a 5.31% stake in the company. On the financial front, for the fiscal year ended March 2026, Fibe reported a 31% year-on-year increase in operating revenue to Rs 1,585 crore from Rs 1,205 crore in FY25 , while its net profit more than doubled to Rs 257 crore. The company claims to have assets under management (AUM) of Rs 8,603 crore as of March 31, 2026. Fibe's competitor Kissht made its stock market debut last month, listing at a12% premiumto its issue price of Rs 171. Since then, the stock has surged more than 63% above its issue price to around Rs 279 as of 2:20 PM on June 30, taking its market capitalization to Rs 4,698 crore. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This
