1 year ago
TPG-Backed Fibe Plans Over $1 Billion IPO
Fibe, a lending company, is planning to sell shares to the public through an IPO, aiming for over a billion-dollar valuation.
They plan to raise a large sum of money by selling their shares.
The company has been doing well, and they've also recently raised money through debt.
They hope to expand their reach, improve their technology, and offer more loan options.
Fibe has been around since 2015 and provides loans to salaried individuals.
Fibe, a TPG-backed online lending platform, plans an IPO.
The company aims to raise ₹1,000-1,500 crore at a valuation exceeding $1 billion.
IPO is expected by mid to late next year.
Fibe raised ₹225 crore in debt recently for growth and lending operations.
The company's revenue doubled to ₹839.26 crore in FY24, with profits at ₹107.25 crore.
- Who
- Fibe
- What
- Fibe plans to raise funds via an IPO.
- Where
- India
- When
- Likely mid to late next year.
- Why
- To raise capital and potentially increase its valuation.
Key facts
- Company
- Fibe
- Backer
- TPG
- Amount to Raise
- ₹1,000-1,500 crore
- Valuation Target
- Over $1 billion
- Founded
- 2015
- FY24 Revenue
- ₹839.26 crore
- FY24 Profit
- ₹107.25 crore
Quotes
Chirag Chadha
Partner at Elevation Capital
“We have not seen that many cases of $500 million M&A transactions in India as we are still in early days, so this is not a scalable strategy for our companies. As a result, IPOs become the primary exit route for us with a small percentage of secondary exits.”
livemint.com
“Most funds in India take longer than 10 years to fully materialize into DPI. In that journey, the first four funds have been almost fully realized and have had a healthy performance.”
livemint.com
Sources
Related news
CCI Approves TPG-Led Aseem Deal, Apollo Healthcare Acquisitions
Vishal Mega Mart Shares Hit Upper Circuit After CEO Reappointment
Vishal Mega Mart Shares Jump After Kapur Reappointment
TPG Sells 6.66% Aster DM Quality Care Stake
KKR to Acquire Minority BookMyShow Stake, Expanding India Entertainment Investment
