The initial public offering (IPO) of Aye Finance had remained undersubscribed on the third and final day of bidding on Wednesday, Feb. 11. The issue received bids for 4,42,21,288 shares against 4,55,32,785 shares on offer, translating into an overall subscription of 0.97 times.
The Qualified Institutional Buyers (QIBs) portion was subscribed 1.5 times. Demand from Non-Institutional Investors (NIIs) remained weak at 0.05 times, while the retail investor segment also stayed undersubscribed at 0.77 times.
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The Aye Finance IPO will list on the BSE and the NSE on Monday, Feb. 16, 2026.
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Let's take a look at the grey market premium (GMP).
Aye Finance IPO GMP Today
According to Investorgain, the last reported grey market premium (GMP) for the Aye Finance IPO stood at Rs -2 on Feb. 16, 2026. The negative GMP indicates the shares are trading at a discount in the grey market. Based on the upper end of the price band of Rs 129, the estimated listing price is around Rs 127, implying a potential loss of about 1.55% per share at current GMP levels.
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 was a book-built issue of Rs 1,010 crore. The offering comprised 5.50 crore fresh equity shares amounting to Rs 710 crore, along with an offer-for-sale (OFS) of 2.33 crore shares of Rs 300 crore by existing shareholders. The IPO's price band was set from Rs 122 and Rs 129 per share.
Axis Capital Ltd. is the book-running lead manager for the issue. Kfin Technologies Ltd. is the IPO's registrar.
About Aye Finance Ltd.
Aye Finance, founded in 1993, operates as a non-banking financial company (NBFC) focused on lending to micro-scale MSMEs. The company provides both secured and unsecured working capital loans, including mortgage loans, Saral Property Loans, and hypothecation loans.
Classified as a middle-layer NBFC, it also offers business expansion loans backed by working assets or property. The company caters to businesses across manufacturing, trading, services, and allied agriculture sectors.
Use Of Proceeds
According to the IPO's RHP, Aye Finance had planned to use the net proceeds from the issue primarily to strengthen its capital base. The funds are also expected to support future capital needs driven by business expansion and growth in its asset book.
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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