Aye Finance Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹122 - ₹129
- Lot size
- 116 shares
- Issue amount
- ₹1,010 cr
- Total subscription
- 1.04×
- Opens
- 9 Feb 2026
- Closes
- 11 Feb 2026
- Allotment
- 12 Feb 2026
- Listing
- 16 Feb 2026
Offer at a glance
Issue overview
- Issue size
- 7,82,94,572 shares
- Face value
- ₹2 Per Share
- Minimum investment
- ₹14,152
- Fresh issue
- ₹710 cr
- Offer for sale
- ₹300 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,964
- Issue type
- Bookbuilding IPO
- Shares before issue
- 19,17,41,570
- Shares after issue
- 24,67,84,266
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 116 | ₹14,964 |
| sHNI | 14 | 1,624 | ₹2,09,496 |
| bHNI | 67 | 7,772 | ₹10,02,588 |
Share reservation
Subscription & GMP
Subscription by category
Reported 11 Feb 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 67,495 | 43,650 |
| HNIs(10L +) | 4,821 | 17 |
| HNIs (2-10L) | 2,411 | 220 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 296.99 | 480.41 |
| FIIs | 0 | 367.09 |
| FIs | 0 | 28 |
| Mutual Funds | 0 | 55.15 |
| Others | 0 | 30.17 |
| RETAIL | 101 | 82 |
| HNIs 2+ | 50.5 | 5.77 |
| HNIs 10+ | 101 | 2.27 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 3.37 | 9.51 | 10.62 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 3.82 | 12.12 | 17.28 |
| PRE IPO(PE) | 0 | 14.11 | 0 |
| POST IPO(PE) | 24.64 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Aye Finance Limited | 14.11 | 129.00 | 2.00 | 90.00 | 12.12 | 9.51 |
| Sbfc Finance Limited | 27.32 | 86.07 | 10.00 | 29.61 | 11.57 | 3.21 |
| Five-star Business Finance Limited | 12.07 | 440.45 | 1.00 | 215.22 | 18.65 | 36.61 |
Company information
Company profile
Incorporated in 1993, Aye Finance Limited is a non-banking financial company (NBFC) focused on providing secured and unsecured small business loans to micro-scale MSMEs, primarily offering working capital and business expansion loans secured against property or working assets to enterprises in the manufacturing, trading, services, and allied agriculture sectors. As of September 30, 2024, the company serves 508,224 active customers across 18 states and three Union Territories, supported by a strong on-ground presence and a growing loan portfolio, while operating under a phygital business model that combines personalized branch-led services through 499 branches with digital lending capabilities to enable efficient nationwide outreach.
Strengths
- Diversified MSME Loan Products: Provides secured and unsecured small-ticket loans to an under-served micro-MSME segment.
- Strong Underwriting Capability: Cluster-based cash flow analysis supports effective credit assessment.
- Robust Collection Framework: Technology-driven, multi-layered collections ensure disciplined repayments and low delinquencies.
Risk factors
- Credit Default Risk: Lending to micro-MSMEs with limited financial records and collateral exposes the company to potential defaults.
- Reliance on Borrower & Third-Party Data: Inaccurate or misleading information may affect credit assessment and collateral valuation.
- Interest Rate Volatility Risk: Changes in borrowing costs without corresponding lending rate adjustments may impact net interest income and margins.
Registrar & documents
Lead manager
Axis Capital Limited, IIFL Capital Services Limited, Jm Financial Limited, Nuvama Wealth Management Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
M-5, Magnum House-I, Community Centre, Karampura New Delhi, New Delhi, 110015
+91 124 484 4000
[email protected]Company website ↗Understanding AYE IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.