Aye Finance's IPO received a lukewarm response, with 16% subscription on the second day. The offering attracted bids for over 72 lakh shares against the 4.55 crore available. Retail investors subscribed 47%, while qualified institutional buyers and non-institutional investors subscribed 13% and 2% respectively. The IPO seeks to bolster Aye Finance's capital for business expansion.

Aye Finance IPO: Tepid Investor Response Amid Ambitious Expansion Plans

Aye Finance IPO Receives Tepid Investor Response

The initial public offering (IPO) of Aye Finance has failed to generate strong interest among investors, with a subscription rate of just 16% on the second day.

This comes after a modest 12% subscription on the first day, according to data from the National Stock Exchange (NSE).

Breakdown of Subscription Rates:

Retail Individual Investors: 47% of the total subscription
Qualified Institutional Buyers: 13% of the total subscription
Non-Institutional Investors: 2% of the total subscription

Despite the lackluster response, Aye Finance aims to utilize the funds raised from the IPO to expand its business, solidifying its position as a lender to micro and small enterprises.

The IPO is set to close on February 11, with the company expected to debut on the Bombay Stock Exchange (BSE) and NSE on February 16.