Fibe, formerly known as EarlySalary, is preparing to raise up to ₹750 crore through an initial public offering (IPO) in 2026, aiming to support operations of its NBFC arm, EarlySalary Services Pvt Ltd, according to inc42.com. The lending tech startup offers unsecured personal loans up to ₹10 lakh via a fully digital process. Notably, major investors including TPG, Piramal Finance, Norwest Venture Partners, and Eight Roads Ventures plan to sell over 4 crore shares in the IPO.
The company’s largest shareholder is TPG through its investment vehicle The Rise Fund III SF Pte Ltd, holding a 23.26% stake. Norwest Venture Partners and Eight Roads Ventures each hold over 10% stakes. Fibe is entering the public markets without a clear promoter, as cofounders CEO Akshay Mehrotra and CFO Ashish Goyal each hold only about 2% equity, which disqualifies them from promoter status under SEBI’s ICDR regulations. Prior to filing the draft red herring prospectus, both founders sold shares worth over ₹100 crore in April 2026 through secondary transactions to multiple investors including TPG and Norwest Capital.
This IPO follows the path of other lending tech startups like Kissht and Aye Finance, which went public earlier in 2026. The ₹750 crore capital raise will primarily fund the NBFC operations, a critical area for lending startups seeking scale. The involvement of prominent global investors such as TPG and Eight Roads underscores continued interest in India’s digital lending sector. Fibe’s move to go public without a promoter highlights evolving ownership structures in fintech startups amid regulatory frameworks.
The IPO document spans 478 pages, detailing the shareholding pattern and secondary sales. The next key milestone is the IPO launch, where over 4 crore shares from existing investors are expected to be offered. The company’s public listing will mark it as the third lending tech startup to list in India in 2026, following Kissht and Aye Finance.