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Financial services firm Fibe gets rating upgrade from two agencies

Economic Times

Economic Times · 1h ago

Financial services firm Fibe gets rating upgrade from two agencies

Fibe, a financial services firm, has received a credit rating upgrade from two agencies due to its strong underwriting and risk management. India Ratings raised the company's long-term rating to A- from BBB+ with a positive outlook, while CARE Ratings improved its short-term rating to A2+ and Acuite Ratings & Research assigned a long-term 'A' rating. The upgrades highlight Fibe’s improved liquidity, diversified funding, and timely debt servicing, reflecting its growing impact in digital-first consumer lending.

Related News

Digital lender Fibe gets Series E cheque from TR Capital, others

VCCircle

VCCircle · 1y ago

Digital lender Fibe gets Series E cheque from TR Capital, others

Lendingtech startup Fibe (formerly EarlySalary) has raised $90 million in Series E funding led by private equity firms TR Capital and Amara Partners, as well as venture debt firm Trifecta Capital. The funding will be used to strengthen Fibe's existing product lines and expand its reach in the Indian market. Fibe offers personal loans and impact loans, such as healthcare loans and school fee financing. The company claims to have lowered credit costs for consumers through its lending technology and risk management systems. Fibe operates in 350 cities in India and has disbursed over 6 million loans worth Rs 20,000 crore since its inception in 2015.

Fibe’s NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth

Economic Times

Economic Times · 3m ago

Fibe’s NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth

EarlySalary Services, the NBFC arm of digital lending platform Fibe, raised Rs 225 crore through Non-Convertible Debentures with involvement from Franklin Templeton AIF and others. The funds will support lending operations and digital expansion for India’s digitally savvy, salaried population. This fundraising highlights investor confidence in the digital lending sector and Fibe's strategic growth. Founded in 2015, Fibe now offers diversified credit solutions, enhancing access to financial services for tech-savvy Indians.

How Multiples-backed lender got a valuation bump with two new PE investors

VCCircle

VCCircle · 1y ago

How Multiples-backed lender got a valuation bump with two new PE investors

APAC Financial Services, a financial services provider backed by private equity firm Multiples, has raised additional capital from two alternative investment firms, resulting in a significant increase in its valuation. Led by CEO Renuka Ramnath, Multiples has invested in several companies in the banking, financial services, and insurance sector. The investment from the two new investors will likely boost APAC Financial Services' growth and expand its offerings in the market.

Moody’s upgrades Tata Motors’ ratings to Ba1, outlook remains positive

Money Control

Money Control · 1y ago

Moody’s upgrades Tata Motors’ ratings to Ba1, outlook remains positive

Moody's has upgraded Tata Motors' corporate family rating (CFR) by two notches to Ba1 from Ba3, with a positive outlook. The rating agency cited the automaker's revenue growth, improving profitability, and debt reduction as reasons for the upgrade. Moody's also upgraded Tata Motors' senior unsecured instruments' ratings to Ba1 from Ba3. The rating action takes into account Tata Motors' sound governance practices, strong demand in key geographies and business segments, and cost rationalization efforts. Moody's expects sustained improvement in Tata Motors' automotive operations, including its subsidiary Jaguar Land Rover Automotive Plc.

Motilal Oswal Alternates gets ready to hit the street for fifth mid-market PE fund

VCCircle

VCCircle · 1y ago

Motilal Oswal Alternates gets ready to hit the street for fifth mid-market PE fund

Motilal Oswal Alternates, the private equity arm of Motilal Oswal Financial Services, is preparing to launch its fifth mid-market PE fund. The firm aims to target mid-market segment companies with this fund. Two years ago, the company raised Rs 4,500 crore under its fourth fund for growth investments.

Sebi bars Axis Capital from taking new debt merchant banking assignments

YourStory

YourStory · 1y ago

Sebi bars Axis Capital from taking new debt merchant banking assignments

Markets regulator Sebi has prohibited Axis Capital from taking on new assignments as a merchant banker for debt securities after it provided guarantees for the redemption of non-convertible debentures (NCDs) of Sojo Infotel. Sebi found that Axis Capital had acted beyond its permitted activities as a merchant banker, posing a potential risk to the financial system. The credit rating agencies had rated the NCDs based on Axis Capital's guarantees, which increased concerns over the firm acting similar to a bank. Axis Capital has been given 21 days to respond to Sebi's order.

Kerala Financial Corporation raise ₹307 crore through NCD Issue

Thehindubusinessline

Thehindubusinessline · 1y ago

Kerala Financial Corporation raise ₹307 crore through NCD Issue

Kerala Financial Corporation has raised INR 307 crore by issuing Non-Convertible Debentures (NCDs) with a 10-year term. The bonds were issued through the BSE Electronic Book Platform at a coupon rate of 8.89%. The company, which has an AA credit rating from RBI/SEBI approved rating agencies, was able to raise funds at a better rate compared to major public sector banks and state public sector undertakings. The funds raised will be utilized for financing projects under various schemes to promote the MSME sector in Kerala. KFC plans to raise an additional INR 700 crore from the bond market in the next financial year.

Finmin pitches rating upgrade to S&P citing robust growth

Economic Times

Economic Times · 4m ago

Finmin pitches rating upgrade to S&P citing robust growth

The Indian finance ministry is advocating for a sovereign rating upgrade from S&P, highlighting India's strong growth potential and resilient macroeconomic indicators amid global uncertainties. India’s robust growth projections, decreasing inflation, and improving debt-to-GDP ratio led the discussions. Currently, S&P maintains India at a 'BBB-' rating but with a positive outlook, while IMF forecasts continue to place India as the fastest-growing major economy. The country’s foreign reserves and steady services exports further bolster its economic standing.

SEBI issues interim order against Gensol on suspicion of diversion of funds

YourStory

YourStory · 7m ago

SEBI issues interim order against Gensol on suspicion of diversion of funds

The Securities and Exchange Board of India (SEBI) issued an interim order against Gensol Engineering for fraudulent fund misutilization by promoters Anmol and Puneet Singh Jaggi. The investigation, prompted by concerns from credit rating agencies, revealed misleading financial statements and unaccounted funds of Rs 262.13 crore. Some funds were used for personal expenses. SEBI halted Gensol's stock split plan, citing potential investor risk due to financial mismanagement, causing Gensol’s shares to drop 2.3%.

Govt plans to liberalize TV rating norms, but proposals raise credibility issues

Livemint

Livemint · 4m ago

Govt plans to liberalize TV rating norms, but proposals raise credibility issues

The Indian government plans to revamp TV rating systems by allowing any company registered under the Companies Act, 2013, to offer these services, aiming to reduce the Broadcast Audience Research Council's (BARC) monopoly. This could democratize ratings but also raise concerns about data credibility and accountability due to potential conflicts of interest if rating agencies also engage in consultancy roles. These changes could invite big tech and private players into the industry.

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