Social Worth Technologies IPO

Incorporated in October 2015, Social Worth Technologies Limited (operating under the Fibe brand) is a technology-driven digital lending platform focused on providing consumer financing solutions to India’s aspirational middle-income population. The company offers a diversified portfolio of personal loans (PL) and purpose-driven financing (PDF) solutions across education, healthcare, insurance, travel, rooftop solar, e-commerce, and other consumption categories through a fully digital lending platform. Fibe leverages artificial intelligence (AI), machine learning (ML), and data science across customer onboarding, underwriting, risk management, fraud detection, operations, and collections to deliver fast, paperless credit solutions. As of March 31, 2026, the company had Assets Under Management (AUM) of ₹86,027.39 million and ranked among India’s top five digital consumer lenders by AUM. The company and its subsidiary employed 1,149 permanent personnel as of March 31, 2026.

Social Worth Technologies Limited IPO Overview

Social Worth Technologies Ltd. has filed a Draft Red Herring Prospectus (DRHP) with SEBI on June 29, 2026, to raise funds through an Initial Public Offering. The IPO is a Book Build Issue consisting of a fresh issue of ₹7,500 million (₹750 crore) and an Offer for Sale (OFS) of up to 4,00,71,200 equity shares by existing shareholders. The equity shares are proposed to be listed on NSE and BSE. Kotak Mahindra Capital Co. Ltd., Axis Capital, DAM Capital Advisors and JM Financial are the book-running lead managers and MUFG Intime India Pvt. Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced. The company’s promoters — Akshay Mehrotra and Ashish Sohan Goyal — founded the company. The company is backed by investors including International Finance Corporation, TPG Inc. and Norwest. Pre-issue shareholding stood at 4,74,08,000 shares and post-issue shareholding will be 33,80,11,926 shares.

Social Worth Technologies Limited Upcoming IPO Details

Category	Details
Issue Type	Book Built Issue IPO
Total Issue Size	Fresh Issue of ₹7,500 million + OFS of 4,00,71,200 shares
Fresh Issue	₹7,500 million
Offer for Sale (OFS)	4,00,71,200 shares of ₹5
IPO Dates	TBA
Price Bands	TBA
Lot Size	TBA
Face Value	₹5 per share
Listing Exchange	BSE, NSE
Shareholding pre-issue	4,74,08,000 shares
Shareholding post-issue	33,80,11,926 shares

Social Worth Technologies Limited IPO Lots

Application	Lots	Shares	Amount
Retail (Min)	TBA	TBA	TBA
Retail (Max)	TBA	TBA	TBA
S-HNI (Min)	TBA	TBA	TBA
S-HNI (Max)	TBA	TBA	TBA
B-HNI (Min)	TBA	TBA	TBA

Social Worth Technologies Limited IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Issue
Retail Shares Offered	Not less than 35% of the Net Offer
NII (HNI) Shares Offered	Not less than 15% of the Net Offer

Social Worth Technologies Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹8.60
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	14.95
Net Asset Value (NAV)	₹68
Return on Equity (RoE)	14.95%
Return on Capital Employed (RoCE)	11.17%
EBITDA Margin	38.37%
PAT Margin	16.08%
Debt to Equity Ratio	1.63x

Objectives of the IPO Proceeds

The Net Proceeds are intended to be utilised as per the details provided in the table below:

Particulars	Amount (₹ in million)
Investment in the Material Subsidiary, ESPL for augmenting its capital base, to meet its onward lending requirement	5,626.00
General corporate purposes	[●]
Total	5,626.00

Social Worth Technologies Limited Financials (₹ in million)

Particulars	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	60,807.42	37,693.62	26,257.70
Revenue	15,845.48	12,089.40	7,718.63
Profit After Tax	2,574.65	1,137.32	1,012.48
Reserves and Surplus	14,220.04	11,565.12	10,356.76
Total Borrowings	35,533.70	18,727.47	14,344.46
Total Liabilities	38,949.31	20,634.05	15,874.06

Financial Status of Social Worth Technologies Limited

Social Worth Technologies IPO Strengths

A. Diversified Portfolio Supported by Differentiated Distribution Model

Social Worth Technologies Limited operates a diversified and granular credit portfolio focused on middle-income customers in India. The company addresses end-markets including personal consumption, education, healthcare, insurance premium financing, rooftop solar, travel and e-commerce. As of March 31, 2026, Total AUM was ₹86,027.39 million, with an approximate 64:36 mix of PLs to PDF based on fresh disbursals for Fiscal 2026. The PDF distribution network comprised over 10,387 merchant touchpoints, representing growth of 3.15 times from Fiscal 2024.

B. High Customer Retention and Existing Customer-Led Monetization

Social Worth Technologies Limited has demonstrated strong customer retention with ₹37,273.96 million of PL AUM attributable to existing borrowers as of March 31, 2026. In Fiscal 2025, out of 1.09 million borrowers eligible for repeat loans, 0.91 million availed a repeat loan within 12 months, representing a repeat rate of 83.92%. This enables generation of disbursements from existing customers without incremental acquisition costs.

C. Technology-Led Operating Model Supporting Scalable Operations

Social Worth Technologies Limited operates with AI and ML algorithms integrated into workflows across the credit lifecycle. The proprietary modular technology ecosystem processes approximately 1.31 million loan applications per month, resulting in ₹76,141.28 million fresh disbursals during Fiscal 2026. The platform’s operating expenses as a percentage of Average AUM improved to 7.21% during Fiscal 2026 from 8.69% in Fiscal 2024.

D. Underwriting, Risk Management and Collections Frameworks Focused on Asset Quality

Social Worth Technologies Limited leverages data-driven processes for underwriting, risk assessment and collections, supported by in-house technology systems and AI/ML models. The scorecards incorporate over 27,500 variables, and 95.00% of loans were processed through automated decisioning in Fiscal 2026. The company’s 90+ DPD within nine months from origination declined to 1.84% in Fiscal 2026 from 3.45% in Fiscal 2024.

Other IPO Pages Linking

A. Business Overview

Social Worth Technologies Limited (Fibe) is a technology-driven digital lending platform focused on providing consumer financing solutions to India’s aspirational middle-income population. The company offers a diversified portfolio of personal loans (PL) and purpose-driven financing (PDF) solutions across education, healthcare, insurance, travel, rooftop solar, e-commerce, and other consumption categories.

B. Business Verticals

The company operates across two primary lending verticals:

• Personal Loans (PL)
  Addresses consumption needs distributed primarily through direct digital channels, including the proprietary mobile application, organic sourcing, affiliate marketing, performance marketing, and collaborations with distribution partners and LSPs. During Fiscal 2026, the company received 13.96 million fresh PL enquiries.

• Purpose-Driven Financing (PDF)
   Addresses financing needs across education, healthcare, insurance premium, rooftop solar, travel and e-commerce. The PDF vertical is driven through a merchant-led model with nationwide reach, under which credit is originated at the point of sale through merchant outlets, centers, websites and applications.

C. Technology Ecosystem

The company’s core systems include the in-house mobile application, LOS, LMS, co-lending platform, fraud detection systems, lead management platform, and collections platform. The company has developed AI tools including Fibe Sense, Fibe GPT, and Fibe Mind. The platform operates across multiple data centers across India with disaster recovery systems.

D. Customer Base and Reach

As of March 31, 2026, Fibe’s AUM stood at ₹86,027.39 million. The company’s customer base spans across India with presence in 6,981 pin codes. The collections infrastructure includes 63 empanelled agencies and an in-house collections team of over 200 employees.

E. Management Team

The company was founded by Akshay Mehrotra (MD and Group CEO) and Ashish Sohan Goyal (Chairperson, Executive Director and Group CFO). The Board comprises eight directors, including four Independent Directors. The company is backed by International Finance Corporation, TPG Inc., Norwest, Eight Roads Ventures, Chiratae Ventures, and Piramal Finance.

Industry Outlook

A. Indian Digital Lending and NBFC Industry

The alternative lending market in India is set for significant growth, predicted to expand by 16.4% annually to reach US$35.58 billion by 2026. The industry witnessed vigorous development from 2020-2025 with a CAGR of 14.8%, and this robust trajectory is anticipated to continue with a CAGR of 13.7% from 2026 to 2029, projecting market expansion to approximately US$52.30 billion by the end of 2029. India’s fintech market size is projected to rise from US$148.1 billion in 2026 to US$867.6 billion by 2033, witnessing a CAGR of 28.7%.

B. Growth Drivers

• Digital Lending Expansion
  Digital lending has firmly taken root, and NBFCs are emerging as a critical pillar in India’s credit ecosystem, bridging gaps left by banks. The total outstanding digital personal loan portfolio reached ₹1.43 lakh crore as of March 2026, up from ₹1.11 lakh crore a year earlier.

• Fintech NBFC Leadership
  Fintech NBFCs account for over 3 out of every 4 personal loans in India. Digital-first NBFCs disbursed 132 million loans worth ₹2.15 lakh crore in FY26 — 77% of all personal loan sanctions by volume and 19% by value.

• Co-Lending as Game Changer
  The Reserve Bank’s co-lending guidelines have proven transformational, with co-lending partnerships enabling greater capital efficiency and balance sheet optimization.

• Young Demographics
  Borrowers below 35 years accounted for 58% of sanctioned loan value during FY26, reinforcing digital channels as the preferred source of credit.

• Regulatory Support
  The RBI’s Digital Lending Directions and the co-lending framework effective from January 2026 set clear rules on retention and risk-sharing, encouraging transparent role allocation.

Key Market Figures

• NBFC credit growth accelerated to 14% year-on-year in May 2026.

• NBFCs now drive over 60% of India’s new credit growth.

• The share of digital NBFCs in personal loan sanctions by volume has risen from 66% in FY23 to 77% in FY26.

• NBFC sector is expected to grow at 15-17% annually, outpacing traditional lending channels.

How Will Social Worth Technologies Benefit

• Expanding digital lending market
  The alternative lending market growing at 13.7% CAGR to US$52.30 billion by 2029 provides significant growth opportunities for Fibe’s core lending business.

• Growing fintech NBFC dominance
  With fintech NBFCs accounting for 77% of personal loan sanctions by volume, the company benefits from the structural shift toward digital-first lenders.

• Co-lending infrastructure development
  The co-lending framework enables the company to leverage partnerships with 10 institutions, where co-lenders fund up to 90% of disbursed loan amounts, enhancing capital efficiency.

• Young demographic advantage
  With 58% of digital lending demand from borrowers below 35 years, the company’s technology-first approach resonates with the target customer base.

• Government and regulatory support
  RBI’s Digital Lending Directions and focus on responsible lending create a conducive environment for compliant digital lenders.

• Technology-led cost efficiency
  The company’s AI and ML capabilities support operating cost management, with operating expenses to Average AUM improving to 7.21% in Fiscal 2026.

• Diversified product portfolio
  The expansion from PL to PDF verticals positions the company to capture emerging credit demand across education, healthcare, insurance, and rooftop solar financing.

Social Worth Technologies Limited Peer Comparison

Name of the Company	Face Value (₹)	Revenue (₹ in million)	Basic EPS (₹)	Diluted EPS (₹)	NAV (₹)	P/E Ratio	P/B Ratio
Social Worth Technologies Limited	5	15,845.48	8.60	8.05	68.00	[●]	[●]
Listed Peers
Bajaj Finance Limited	2	819,895	30.60	30.51	183.21	32.12	5.35
SBI Cards and Payment Services Limited	10	207,076	22.77	22.77	165.25	27.42	3.78
Poonawalla Fincorp Limited	2	67,957	6.84	6.82	127.31	64.51	3.46
OnEMITechnology Solutions Limited	10	22,091	46.80	21.39	79.70	12.86	3.45

Key Strategies for Social Worth Technologies Limited

Expand Product and Service Offerings Based on Customer Demand and Preferences

Social Worth Technologies Limited has expanded product offerings over time from personal loans into purpose-driven financing verticals including education, insurance premium, healthcare, travel, e-commerce and rooftop solar financing. The company intends to continue adding products and services aligned with customer preferences and market conditions, supported by underwriting frameworks and digital customer journeys.

Scale Distribution Network and Deepen Ecosystem Integration

Social Worth Technologies Limited intends to continue expanding its customer base and merchant ecosystem by increasing presence in existing geographies and entering additional markets and verticals. The company plans to onboard additional merchants and collaborators, strengthen platform integrations and provide technology-enabled tools that support merchant onboarding, transaction processing, underwriting and lead management.

Continue to Invest in Technology, Including Artificial Intelligence

Social Worth Technologies Limited plans to further integrate AI across workflows to support customer engagement, improve risk assessment and credit decisioning, support portfolio management and improve employee productivity. The company expects the use of such systems to support operating cost management, improve turnaround times and support scale.

Support Scalable Growth Through Operational Efficiency and Risk Management

Social Worth Technologies Limited intends to scale operations with a focus on operating efficiency and asset quality. The company plans to use its technology-led operating model to improve productivity and manage costs across the lending lifecycle, including origination, underwriting, servicing and collections, while maintaining asset quality across credit cycles.