ANI PR Wire
08 Nov 2023, 21:26 GMT+10
PRNewswire
Mumbai (Maharashtra) [India], November 8: EarlySalary Services Pvt. Ltd. (A Fibe Group Company) has raised Rs. 30 crores via issuance of Non-Convertible Debentures (NCD) which are now listed on Bombay Stock Exchange (BSE). This issue marks the debut of EarlySalary Services Pvt. Ltd. on the BSE. The issue was fully subscribed through private placement on the first day of subscription. The company also has a green shoe option of raising another Rs. 19 crores, which is also fully subscribed. AK Capital Services Ltd. was the sole arranger for the bond issuance. The NCDs have a face value of Rs. 1 lakh each. The issue has a maturity date of 18th March 2025. The debentures are rated BBB+/Stable rating from CARE Ratings Limited.
Mr. Ashish Goyal, Co-Founder and Chief Financial Officer said "It gives me immense happiness to share that EarlySalary Services Pvt. Ltd.'s first-ever NCD issue got fully subscribed on the first day and will now be available on BSE. This is a testament to the faith and confidence investors have on the Company and the transformative innovation it has undertaken in the digital lending space in India. We are committed to offer secure and inclusive financial solutions to the ambitious youth of India."
Fibe is India's leading consumer lending app focused on young, aspirational, and tech-savvy Indians and a leader in the personal loan space for salaried professionals segment. The group has raised $110 million in its Series D funding last year and aims to now widen its geographic reach and diversify its offering.
About Fibe Group
Fibe is one of India's leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group to fulfil their aspirations. It is an industry leader in the salary advance segment with the fastest processing time. It has launched a host of financial products like Cash Loans, long-term Personal Loans and Buy Now Pay Later plans. It offers a 100% digital loan application process that takes just seconds to complete. Its technology arm - Social Worth Technologies Pvt. Ltd. has partnered with Axis Bank to launch the Fibe Axis Bank Credit Card.
Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income groups in India. Due to its highly scalable business model, and has been certified with ISO/IEC 2001 for its Information Security Management System (ISMS). Today, Fibe group has access to debt lines to leading PSUs & Private Banks, Large Notable NBFCs and NDCs. The company has already disbursed more than 5.7 million+ loans worth Rs. 18,000 Cr+.
* Featured in Economic Times Best Brand Award at the Best Brands Conclave 2022
* Winner of the BFSI Leadership Award at the 5th NBFC100 Tech Summit
* Winner of Young Indians Delhi Youth Conclave Award
* Dream Company to Work for in Fintech by HRM Asia Pacific Congress
* Winner of G20 Digital Innovation Alliance - Best Startup in Fintech
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
Get a daily dose of Nepal National news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.
More InformationREDMOND, Washington: Microsoft President Brad Smith said there is no chance of super-intelligent artificial intelligence (AI) being developed within the ...
NEW YORK: A survey by Consumer Reports found that electric vehicles (EV) from 2021 through 2023 model years encountered nearly ...
LONDON, UK: In a report released this week, the Economist Intelligence Unit (EIU) said that Singapore and Zurich tied for ...
WASHINGTON D.C.: This week, the U.S. Federal Aviation Administration (FAA) said it implemented a new aircraft certification policy, which requires ...
WASHINGTON D.C.: As businesses built more warehouses and accumulated machinery equipment, the U.S. economy grew faster than initially forecast in ...
WASHINGTON D.C.: This week, the White House said that Senior Biden administration officials met with the makers of respiratory syncytial ...
PABNA, Bangladesh - According to police, the person responsible for the train arson at Ishwardi railway station on November 27 ...
ABU DHABI, UAE - Nepal, according to Prime Minister Pushpa Kamal Dahal 'Prachanda,' requires a significant investment in infrastructure, human ...
KUALA LUMPUR, Malaysia - According to Malaysia's foreign ministry, 121 people, mostly Malaysians suspected of being victims of job scams, ...
QUETTA, Pakistan - Asif Ali Zardari, Co-Chairman of the Pakistan Peoples Party (PPP), stated on Thursday that 'some forces' impede ...
DHAKA, Bangladesh - The European Union (EU) expressed hope on Wednesday that Bangladesh would hold democratic, credible, peaceful, and participatory ...
NAYPYIDAW, Myanmar: Kyar Win, spokesperson for the Myanmar National Democratic Alliance Army, which launched a surprise offensive last month against ...