Aye Finance IPO: Check key dates, price band, issue size & all other details

Aye Finance, a non-banking financial company headquartered in Gurgaon and backed by Elevation Capital, Alphabet, LGT Capital, and British International Investment, has announced its Rs 1,010 crore initial public offering, opening on 9 February and closing on 11 February. The IPO price band is fixed at Rs 122-129 per share with a face value of Rs 2, and investors can apply in lots of 116 shares.

Of the total issue, 75 per cent is reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and 10 per cent for retail investors. Axis Capital, IIFL Capital Services, JM Financial, and Nuvama Wealth Management are the lead managers. The share allotment is scheduled for 12 February, with listing expected by 16 February.

The Rs 1,010 crore issue consists of a fresh equity issuance worth Rs 710 crore and an offer for sale of shares aggregating to Rs 300 crore by existing shareholders including Alpha Wave India, MAJ Invest Financial Inclusion Fund, CapitalG (Alphabet), LGT Capital, and Vikram Jetley. At the top end of the price band, the company is valued at approximately Rs 3,184 crore. Proceeds from the fresh issue will be used to augment the capital base and support future business and asset growth.

Among the major shareholders, Elevation Capital holds a 16.03% stake, followed by LGT Capital at 13.99 per cent, Alphabet through CapitalG at 13.14 per cent, and Alpha Wave India at 11.1%. British International Investment and A91 Emerging Fund each hold over 9 per cent. The company focuses on extending business loans to underserved micro-scale enterprises in India.

For the financial year ended March 2025, Aye Finance reported a profit of Rs 175.3 crore, a slight increase from Rs 171.7 crore the previous year. Net interest income rose by 37.9 per cent to Rs 858 crore, up from Rs 622.2 crore. As of September 2025, the company had 5.86 lakh active unique customers and assets under management (AUM) of Rs 6,027.6 crore, indicating its growing presence in the lending sector.

The company stated that proceeds from the fresh issue will be used to meet future capital requirements arising from business and asset growth. With the IPO allotment expected on 12 February, refunds will be initiated soon after, followed by the credit of shares to demat accounts before the anticipated listing date of 16 February. Investors must confirm UPI mandates before issue closure.