Aye Finance, a non-banking financial company, debuted on the stock market at its issue price of Rs 129. Despite the flat start, shares traded slightly lower. The IPO was fully subscribed, with proceeds intended to bolster capital for business expansion. The company serves underserved micro and small enterprises.

Aye Finance Makes Flat Market Debut Amidst Positive Market Sentiment

Aye Finance Makes Market Debut, Listing at Issue Price of Rs 129

Aye Finance, a prominent non-banking financial company, began trading on the stock market on Monday, marking a significant milestone in its growth journey.

Shares initially listed at the issue price of Rs 129.
However, the company's market debut was met with a slight dip, as shares subsequently fell 3.17% to Rs 124.91 on the NSE.

The company's market debut coincided with a broadly positive day for the equity markets, as key indices reported significant gains.

The 30-share BSE Sensex climbed by 165.32 points.
The NSE Nifty rose by 57.25 points.

Last week, Aye Finance's initial public offering (IPO) was fully subscribed, with a price band set at Rs 122-129 per share.

The company plans to utilize the proceeds from the Rs 1,010-crore IPO to enhance its capital base.
The funds will also support future growth in serving micro and small enterprises, a segment that remains underserved by traditional banks.

Aye Finance's market debut marks a significant step towards expanding its presence in the microfinance sector.