The Rs 1,010-crore IPO of NBFC Aye Finance received 97 percent subscription on the final day, with bids for 4.42 crore shares against 4.55 crore on offer. The QIB portion was subscribed 1.5 times, retail 77 percent, while non-institutional saw only 5 percent. Priced at Rs 122-129 per share (valuing the company at Rs 3,184 crore, upper end), the issue includes a Rs 710 crore fresh issue.
New Delhi: The initial public offering of non-banking financial company (NBFC) Aye Finance received 97 per cent subscription on the final day of bidding on Wednesday. The initial public offering (IPO) received bids for 4,42,21,288 shares against 4,55,32,785 shares on offer, according to the NSE data.
The portion for qualified institutional buyers (QIBs) fetched 1.5 times subscription, while the category for retail individual investors (RIIs) got subscribed 77 per cent. The portion for non-institutional investors received only 5 per cent subscription. According to an Aye Finance spokesperson, the total issue was Rs 1,010 crore with the price band of Rs 122- Rs 129. The company has received bids more than the offer size at the upper cap of the price band.
"Effectively against total bid size of Rs 1,010 crore, the IPO has been completely subscribed. However, in the NSE and BSE, total number of shares is computed always at the lower cut-off of the band," the spokesperson added. The company has fixed a price band of Rs 122-129 per share, valuing the company at Rs 3,184 crore at the upper end of the band. The Rs 1,010-crore IPO comprises a fresh issue of 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. Aye Finance is scheduled to list on the BSE and NSE on February 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.
As of September 30, 2025, Aye Finance operated across 18 states and three Union Territories, serving around 5.9 lakh active customers, with assets under management (AUM) of Rs 6,027.6 crore. Axis Capital Ltd, IIFL Capital Services, JM Financial, and Nuvama Wealth Management are the book-running lead managers.
