Aye Finance IPO
Bookbuilding IPO | ₹1,010.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Mon, Feb 09, 2026
IPO Close
Wed, Feb 11, 2026
Price Band
₹122.00 to ₹129.00
Market Cap (Pre-IPO)
₹3,183.52 Cr
IPO Details
| IPO Date | Feb 09, 2026 to Feb 11, 2026 |
| Listing Date | Tentative: Feb 16, 2026 |
| Face Value | ₹2.00 per share |
| Price Band | ₹122.00 to ₹129.00 |
| Lot Size | 116 Shares (Minimum: ₹14,964.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹1,010.00 Crores |
| Total Shares Offered | 78,294,572 shares |
| Fresh Issue | 55,038,759 shares |
| Offer For Sale | 23,255,813 shares |
Aye Finance IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII Shares Offered | Not more than 15% of the Net Offer |
Aye Finance IPO Lot Size
Investors can bid for a minimum of 116 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 116 | ₹14,964 |
| Retail (Max) | 13 | 1,508 | ₹194,532 |
| S-HNI (Min) | 14 | 1,624 | ₹209,496 |
| S-HNI (Max) | 66 | 7,656 | ₹987,624 |
| B-HNI (Min) | 67 | 7,772 | ₹1,002,588 |
Aye Finance Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|---|
| Assets | 7,116.01 | 6,338.63 | 5,819.05 | 4,869.59 | 3,126.00 |
| Total Income | 863.02 | 1,504.99 | 717.05 | 1,071.75 | 643.34 |
| Profit After Tax | 64.60 | 175.25 | 107.80 | 171.68 | 39.87 |
| EBITDA | - | - | - | - | - |
| NET Worth | 1,727.37 | 1,658.87 | 1,593.17 | 1,232.65 | 754.49 |
| Reserves and Surplus | 1,689.58 | 1,621.08 | 1,555.39 | 1,192.72 | 724.04 |
| Total Borrowing | 5,218.50 | 4,526.33 | 4,083.10 | 3,498.99 | 2,296.16 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 12.12% |
| Debt/Equity | 2.73 |
| RoNW (Return on Net Worth) | 12.12% |
| Price to Book Value | 1.71 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 9.14 | 5.24 |
| P/E (x) | 14.11 | 24.64 |
Company Overview
Company Overview
- Established in 1993, Aye Finance Limited is a leading NBFC providing secured and unsecured small business loans to micro-scale MSMEs across India.
- The company focuses on working capital finance, including mortgage loans, ‘Saral’ property loans, and hypothecation-based loans.
- Aye Finance supports business expansion and operational needs, catering to enterprises in the manufacturing, trading, services, and allied agriculture sectors.
- As of the latest data, the company serves 586,825 active customers across 18 states and 3 Union Territories, supported by a strong assets under management (AUM) base.
Key Product Offerings of Aye Finance:
- Mortgage Loans
- ‘Saral’ Property Loans
- Secured Hypothecation Loans
- Unsecured Hypothecation Loans
Workforce Strength:
- The company employed 10,459 full-time employees in the six months ended September 30, 2025.
- Employee count stood at 8,388 for the six months ended September 30, 2024.
- During FY2025, FY2024, and FY2023, the workforce comprised 9,102, 6,825, and 5,724 employees, respectively, engaged in operations across India.
Company Strengths
- Leading Lender of Small-Ticket Loans to Micro Scale MSMEs with Comprehensive Product Offerings and Focus on Serving Large and Unaddressed TAM
- Strong Sourcing Capabilities Supported by a Diversified Pan-India Presence and High Customer Retention
- Effective Underwriting Methodology
- Robust Multi-Tiered Collection Capabilities
- Building Resilience through Technological Prowess
- Access to Diversified Lender Base and Cost-Effective Financing
- Experienced and Professional Management Team backed by Marquee Investors with a Committed Employee Base
Use of Proceeds
| 1) | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | |
| 2) | Commission/ processing fee for SCSBs and Bankers to the Offer and fees payable to the Sponsor Bank(s) for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | |
| 3) | Fees payable to the Registrar to the Offer | |
| 4) | Fees payable to advisors, consultants and other parties to the Offer | |
| 5) | Statutory Auditor | |
| 6) | Independent Chartered Accountant | |
| 7) | CRISIL | |
| 8) | Fee payable to legal counsels | |
| 9) | Others | |
| 10) | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | |
| 11) | Printing and stationery | |
| 12) | Advertising and marketing expenses | |
| 13) | Miscellaneous |
Objectives
Aye Finance IPO Peer Comparison
Aye Finance peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Aye Finance Limited | 9.51 | 9.34 | 90.00 | - | 12.12 | - | - |
| Sbfc Finance Limited | 3.21 | 3.15 | 29.61 | 27.32 | 11.57 | 2.97 | - |
| Five-star Business Finance Limited | 36.61 | 36.50 | 215.22 | 12.07 | 18.65 | 2.05 | - |
Quick Info
| Sector | Financial Services |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹3,183.52 Cr |
Important Dates
| IPO Open | Feb 09, 2026 |
| IPO Close | Feb 11, 2026 |
| Allotment Date | Feb 12, 2026 |
| Credit to Demat | Feb 13, 2026 |
| Listing Date | Tentative: Feb 16, 2026 |
Lead Manager(s)
Axis Capital Ltd.
Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
Description
- Aye Finance IPO is a book-built issue worth ₹1,010.00 crore, comprising a fresh issue of 5.50 crore equity shares aggregating to ₹710.00 crore and an offer for sale of 2.33 crore shares amounting to ₹300.00 crore. The IPO will open for subscription on February 9, 2026, and close on February 11, 2026, with allotment expected on February 12, 2026. Aye Finance IPO is proposed to be listed on both BSE and NSE, with a tentative listing date of February 16, 2026.
- The price band for the Aye Finance IPO is set at ₹122 to ₹129 per share, and the lot size is 116 shares. Retail investors need to invest a minimum of ₹14,964 for one lot at the upper price band. For non-institutional investors, the minimum application for sNII is 14 lots (1,624 shares) amounting to ₹2,09,496, while bNII investors must apply for 67 lots (7,772 shares) amounting to ₹10,02,588.