New Delhi, June 30 -- Social Worth Technologies Ltd, the parent company of digital lending platform Fibe, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The proposed IPO comprises a fresh issue of up to Rs.750 crore worth of equity shares and an offer-for-sale (OFS) of more than 4 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP).

The company plans to utilise the proceeds from the fresh issue to invest in its material subsidiary, EarlySalary Services Pvt. Ltd (ESPL), to strengthen its capital base and support onward lending, with the remaining amount earmarked for general corporate purposes.

Founded i...