Fibe Secures SEBI Approval for ₹750 Crore IPO
By Business Desk
Social Worth Technologies gets SEBI nod for a ₹750 crore IPO. Discover how Fibe plans to strengthen its capital base and expand digital lending in India.
Regulatory Clearance Granted
Social Worth Technologies, the parent company of the fintech platform Fibe, received regulatory clearance from the Securities and Exchange Board of India to proceed with its ₹750 crore initial public offering. The clearance marks a significant milestone for the digital lending platform as it moves toward public markets.
Key details of the initial public offering include:
• Company name: Social Worth Technologies, known as Fibe.
• Offering size: ₹750 crore fresh issue.
• Component structure: No offer-for-sale component.
• Regulator: Securities and Exchange Board of India.
Capital Deployment Plans
The company intends to utilize the proceeds from this offering to bolster its capital base, supporting its future lending activities and general corporate purposes. Fibe specializes in personal loans and credit solutions within the Indian market.
Strategic objectives for the capital raise cover:
• Strengthening the capital base for future operations.
• Supporting ongoing lending activities.
• Funding general corporate purposes.
• Expanding market presence and enhancing digital lending infrastructure.