TPG-backed lender Fibe hires bankers for ₹1k-1.5k crore IPO

TPG-backed online lending platform Fibe has shortlisted three investment bankers to steer its initial public offering (IPO), through which it plans to raise between ₹1,000 crore and ₹1,500 crore at a targeted valuation of over $1 billion, three people familiar with the matter said.

- Priyam vada C

The company has roped in Axis Capital, Kotak Mahindra Capital, and JM Financial to lead the process, the people said, adding that the listing could materialize by mid-to-late next year. “The company is likely to appoint a fourth banker in the coming weeks,” one of the people cited above said. Fibe and Axis declined to comment, while Kotak and JM Financial did not respond to Mint’s queries.

The move comes after Fibe raised $90 million last year in a mix of primary and secondary transactions led by TR Capital, Trifecta Capital, and Amara Partners, valuing the firm at around $600 million.