Fibe Files Landmark IPO with Global VCs TPG and Fidelity; Aims for ₹750 Crore Raise
Pune-based fintech platform Fibe has officially filed its preliminary prospectus papers with the Securities and Exchange Board of India (SEBI) to conduct an Initial Public Offering (IPO). The move signals a major capital raising push for the rapidly growing consumer lending firm.The company proposes to mobilize ₹750 crore through the issuance of fresh equity shares. Furthermore, the IPO will include an Offer-for-Sale component where investors will dispose of 4 crore equity shares.
IPO Structure and Fund Utilization
Fibe is moving forward with its fundraising strategy as part of a larger push for growth in the lending sector. The company intends to utilize ₹562.6 crore from the fresh issue proceeds. This significant portion is earmarked for investment into its material subsidiary, ESPL, to bolster the capital base needed for onward lending requirements.The remaining funds from the fresh issue will be designated for general corporate purposes within Fibe. The proceeds generated by the Offer-for-Sale component will be received directly by the selling shareholders involved in the process.
Financial Performance and Market Metrics
Fibe has demonstrated robust financial scaling while operating its diverse product portfolio, which spans personal loans to purpose-driven financings. In the fiscal year ended March 2026, Fibe reported total assets under management at ₹8,602.7 crore. This represents a substantial growth rate of 45.49 percent from the previous year's figure of ₹4,064.1 crore.The company’s profitability saw dramatic improvement in FY26. Profit increased by 126.4 percent, reaching ₹257.5 crore from ₹113.7 crore in the prior fiscal period. Additionally, net interest income soared 28.1 percent to ₹734.9 crore, up from ₹573.5 crore during the same period.
Key Shareholders and Investment Backing
The IPO filing highlights strong backing from prominent financial institutions and venture capitalists (VCs). Among the selling shareholders in the Offer-for-Sale component are TPG-backed The Rise Fund III SF, Norwest Capital, Eight Roads, Piramal Finance, Galaxystar Ground, and Kariba Holdings.The Rise Fund III SF holds the largest stake at 23.26 percent in Fibe. Norwest Capital also maintains a significant position with a 13.38 percent shareholding. Other major shareholders include Eight Roads Ventures (13.02 percent) and Piramal Finance (7.06 percent). The company's founders, Akshay Mehrotra and Ashish Sohan Goyal, hold stakes of 2.1 percent and 1.75 percent, respectively.
Merchant Banking and Pre-IPO Developments
The filing includes the appointment of major financial entities to guide the IPO process. Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors, and JM Financial are serving as the merchant bankers for Fibe's initial public offering.It is worth noting that Fibe may consider a pre-IPO funding round of up to ₹150 crore before the final filing of the Red Herring Prospectus with the Registrar of Companies. This potential raise would form part of the overall fresh issue component being addressed through the IPO structure.
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