Pune-based Social Worth Technologies, the parent company of digital lender Fibe, has filed for an initial public offering to raise up to ₹750 crore through the issuance of new shares.
The filing marks a significant liquidity event for the fintech, which is backed by a consortium of prominent private equity firms.
Other key backers participating in the sell-down include Norwest Capital and Eight Roads Ventures, which hold approximately 13% each, and Piramal Finance, with a 7% stake.
Existing shareholders are also seeking to monetize their positions, with plans to sell up to 40.1 million shares.
TPG’s The Rise Fund III, the largest shareholder with a roughly 23% stake, is among the investors looking to exit.
Other key backers participating in the sell-down include Norwest Capital and Eight Roads Ventures, which hold approximately 13% each, and Piramal Finance, with a 7% stake.
The filing comes at a challenging time for fintech initial public offerings in India.