Social Worth Technologies files IPO with SEBI for Fibe app
Business
Social Worth Technologies, the company behind digital lending app Fibe, just filed for an IPO with the Securities and Exchange Board of India (SEBI).
The offering includes up to ₹750 crore in new shares plus more than 4 crore shares being sold by current investors.
Fibe using IPO proceeds for EarlySalary
Fibe plans to use the funds to boost its EarlySalary Services arm, ramp up lending, and cover general expenses.
The company's assets under management have more than doubled in two years to ₹8,603 crore, with profits also jumping sharply.
Major financial players are managing the IPO, and big names like IFC and TPG are already backing the company.