Fibe eyes ₹1,500 cr IPO at over $1 bn valuation

The TPG-backed online lending platform aims to go public later next year

- Priyamvada C.

PG-backed online lending platform Fibe has begun engaging with bankers to raise ₹1,000-1,500 crore through an initial public offering (IPO) and will target a valuation of over a billion dollars, two people familiar with the matter told Mint.

"The banker pitches are ongoing, and the company will make the appointments by the end of this quarter," one of the two people cited above said, adding that a listing is likely to happen by mid-to-later next year.

"The company can command a significant jump in valuation as it has grown well in recent years, is profitable and has its fundamentals in place for a listing," the second person added.

Fibe declined to comment.