According to the Draft Red Herring Prospectus (DRHP), Fibe's initial public offering consists of a fresh issue of equity shares worth up to ₹750 crore and an Offer-for-Sale (OFS) of more than 4 crore equity shares by existing shareholders. Social Worth Technologies Ltd, the parent company of digital lending platform Fibe, filed its draft papers in June to the Securities and Exchange Board of India (SEBI) to launch the public offering. The company plans to use proceeds from the fresh issue to invest in its material subsidiary, ESPL, to strengthen its capital base for lending activities, while the remaining funds will be allocated toward general corporate purposes.
TPG-backed Fibe announced the launch of Credit AI Radar (CAIR), an AI-powered credit intelligence and management platform that aims to go beyond traditional credit scores to help users better understand, manage and improve their credit health. As formal credit adoption continues to grow, the reach of digital-first lenders expanded from around 14.4 million consumers in December 2022 to nearly 23.3 million by December 2024. CAIR addresses this gap by combining data from multiple credit bureaus with Fibe's proprietary AI engine, FibeSense, giving users access to the same intelligence that powers the company's lending decisions.
At the heart of the platform is Fiora, an AI-powered chatbot that answers plain-language questions about credit scores, repayments, and credit behaviour. Users can ask questions such as, 'What is my six-month credit trend?' and receive easy-to-understand responses, complete with visual insights based on their credit history. Fiora supports Hindi, English, Marathi, Tamil, Telugu, and Kannada, making credit guidance accessible to a wider audience across India. The platform provides personalised credit improvement plans and score simulation tools, enabling users to understand how specific financial actions may impact their credit score before making decisions.
Unlike a traditional credit score that offers only a static view, the platform identifies behavioural patterns, hidden signals, and key factors influencing a customer's credit profile, presenting them in a simple and actionable format. It alerts users if credit utilisation is too high, highlights recent hard enquiries, and prioritises the steps needed to improve their credit health. The platform uses customer data only with explicit consent and operates in line with Fibe's data privacy practices. As reported by Fibe, the platform aims to empower individuals to build stronger credit habits and make more informed borrowing decisions.
Kotak Mahindra Capital Company, Axis Capital, DAM Capital Advisors, and JM Financial have been appointed as the book-running lead managers for the public issue. The company's focus on AI-powered credit intelligence aligns with the growing demand for digital financial services in India, as formal credit adoption continues to expand across the country.
