Fibe Receives SEBI Approval to Move Ahead With IPO

Fibe is a company that gives people digital loans.

It wants to sell shares to the public through an IPO.

India’s market regulator, SEBI, has given its observations, allowing the company to continue preparing for the IPO.

The IPO will create ₹750 crore worth of new shares.

Existing investors also plan to sell more than 4 crore shares.

Fibe will use much of the new money to support its subsidiary, EarlySalary Services.

That money will help the subsidiary lend to more people.

Fibe uses artificial intelligence, machine learning and data science in several parts of its lending business.