- Aye Finance IPO opens Feb 9 and closes Feb 11 with a price band of Rs 122-129
- IPO size is Rs 1,010 crore including fresh equity and offer-for-sale shares
- Grey market premium is Re 1, implying an estimated listing price of Rs 130
The initial public offering (IPO) of Alphabet-backed Aye Finance Ltd. is set to open on Monday, Feb. 9, with the bidding window closing on Wednesday, Feb. 11. Established in 1993, Aye Finance Ltd. operates as a non-banking financial company (NBFC). The non-financial banking company Aye Finance Ltd. had filed draft papers for its initial public offering on Dec. 16, 2024.
With the subscription window approaching, investors are tracking various indicators, including the grey market premium (GMP).
Aye Finance IPO GMP Today
The last reported GMP for the Aye Finance IPO is Re 1, as of Feb. 6, according to Investorgain. Based on the upper end of the price band of Rs 129, the estimated listing price stands at Rs 130, calculated by adding the GMP to the cap price. The implied expected gain per share is around 0.78%.
Note: GMP does not represent official data and is based on speculation.
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Aye Finance IPO Key Details
The Aye Finance IPO is a book-built issue of Rs 1,010 crore. The issue is a combination of 5.50 crore fresh equity shares amounting to Rs 710 crore and an offer-for-sale (OFS) component of 2.33 crore shares of Rs 300 crore by existing shareholders.
The Aye Finance IPO's price band has been set from Rs 122 to Rs 129 per share. The application lot size is 116 shares, translating into a minimum retail investment of Rs 14,964.
For sNIIs, the minimum application size is 14 lots, or 1,624 shares, requiring an investment of Rs 2,09,496. For bNIIs, the minimum application stands at 67 lots, or 7,772 shares, amounting to Rs 10,02,588.
The share allotment is expected to be finalised on Thursday, Feb. 12. Refunds and the credit of shares to investors' demat accounts are likely to be completed on Friday, Feb. 13. Aye Finance's shares are scheduled to be listed on the BSE and NSE, with the tentative listing date being Monday, Feb. 16.
Axis Capital Ltd. is the book-running lead manager for the issue, and Kfin Technologies Ltd. is the IPO's registrar.
Under the offer-for-sale segment, shareholders Harleen Kaur Jetley and Vikram Jetley will be selling equity shares worth Rs 14.5 crore and Rs 7.7 crore each through the offer. Alphabet's independent growth fund CapitalG LP will offload shares worth Rs 130 crore, while A91 Emerging Fund I LLP will sell a stake worth Rs 100 crore through the offer.
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Aye Finance Ltd. Business And Financials
Aye Finance is a non-banking financial company, middle-layer focused on providing loans to micro-scale MSMEs across India. They offer business loans for working capital and business expansion needs, against hypothecation of working assets or against security of property to customers across manufacturing, trading, service and allied agriculture sectors. Aye Finance Ltd. offers both secured and unsecured working capital loans to micro-scale MSMEs, including mortgage loans, Saral Property Loans and hypothecation loans.
As of Sept. 30, 2025, Aye Finance operated across 18 states and three Union Territories, serving nearly 5.9 lakh active customers.
Use Of Proceeds
Aye Finance plans to use the net proceeds from the issue to strengthen its capital base, according to the IPO's RHP. The funds will also support future capital requirements arising from business expansion and asset growth.
Financials
Aye Finance reported total income of Rs 863.02 crore and a profit after tax of Rs 64.60 crore for the period ended Sept. 30, 2025.
For the financial year ended March 31, 2025, the company's total income stood at Rs 1,504.99 crore and its profit after tax was Rs 175.25 crore. In the fiscal ended March 31, 2024, Aye Finance reported total income of Rs 1,071.75 crore, while profit after tax was Rs 171.68 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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