Business · India Bureau
Fibe Gets SEBI Clearance for Rs 750 Crore IPO Listing
The Securities and Exchange Board of India has approved Fibe's initial public offering comprising a Rs 750 crore offer for sale. The fintech lender plans to deploy majority of the IPO proceeds to bolster its subsidiary's capital and facilitate lending operations.
LSN India ·
Fibe has received regulatory clearance from SEBI to proceed with its public market debut through a Rs 750 crore offer for sale, marking a significant milestone for the digital lending platform. The approval paves the way for the company to tap public capital markets as it looks to expand its financial services operations across India.
According to the company's IPO prospectus, Fibe intends to allocate Rs 562.6 crore from the IPO proceeds towards strengthening the capital base of its subsidiary. These funds will be instrumental in supporting the subsidiary's onward lending activities, enabling the company to expand its credit portfolio and reach a wider customer base.
The remaining IPO proceeds have been earmarked for general corporate purposes, providing the company with additional financial flexibility for operational requirements and strategic initiatives. The capital raise comes as digital lending platforms in India continue to attract investor interest amid growing fintech adoption across the country.
The regulatory nod from SEBI represents a key validation of Fibe's business model and governance standards. The company now moves closer to launching its public offering, subject to market conditions and completion of other regulatory requirements.