- Aye Finance IPO opens Feb 9 with a Rs 1,010 crore issue and closes Feb 11
- Aye Finance price band set at Rs 122-129, valuing the company at Rs 3,184 crore
- Fractal Analytics IPO worth Rs 2,833.9 crore with a price band of Rs 857-900 per share
The D-Street's IPO compound has been quiet for some time now. However, with two big issues in the pipeline for the week, things seem to be picking up pace again. Aye Finance Ltd. and Fractal Analytics Ltd. are going public this week. Check their key details below.
Aye Finance IPO Details
In a bid to boost its capital base to support future business growth and expand asset portfolio, Aye Finance's Rs 1,010 crore Initial Public Offering (IPO) will open for subscription on Feb. 9.
The non-banking financial company made a public announcement regarding the IPO details and said that it has fixed a price band of Rs 122-129 per share, valuing Aye Finance at Rs 3,184 crore at the upper end of the band. The issue will close on Feb. 11, while bidding for anchor investors will open on Feb. 6.
The offering is a mixed issue, comprising of fresh equity shares worth up to Rs 710 crore and an Offer For Sale (OFS) of up to Rs 300 crore by current shareholders.
The company proposes to utilise the net proceeds from the fresh issue to strengthen its capital base, supporting future capital requirements arising from the expansion of its business and asset base.
The alphabet backed issue is scheduled to list on the BSE and NSE on Feb. 16.
Classified as a middle-layer NBFC, Aye Finance focuses on lending to micro and small enterprises (MSEs), a segment that remains largely underserved by traditional banks.
Fractal Analytics IPO Details
Fractal Analytics IPO is a book-building issue worth Rs 2,833.9 crore. It includes a fresh issue of 1.14 crore shares, amounting to Rs 1,023.5 crore, and an offer-for-sale (OFS) of 2.01 crore shares, worth Rs 1,810.40 crore. The price band for this IPO has been fixed at Rs 857 to Rs 900 per share.
The lot size for the IPO consists of 16 shares. Retail investors are required to apply for at least a single lot size, amounting to a minimum investment of Rs 14,400 at the upper limit of the price band per application.
The IPO share allotment status is expected to be finalised on Feb. 12. Shares of Fractal Analytics Ltd. are tentatively scheduled to be listed on the NSE and BSE on Feb. 16.
As India's first AI unicorn, the company is seeking to capitalise on investor demand for the emerging sector as well as the country's adoption of consumer technologies. The company will utilise Rs 355 crore from the proceeds of the fresh issue to invest in R&D and sales and marketing under Fractal Alpha, its incubation business.
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