Aye Finance' Rs 1,010-cr IPO subscribed 16 pc on day 2

Aye Finance IPO Receives Lukewarm Response, Subscribes 16% on Second Day

The Initial Public Offering (IPO) of non-banking financial company (NBFC) Aye Finance has received a lukewarm response from investors for the second straight day, garnering a subscription of 16% on Tuesday.

Subscription Details:

• Overall Subscription: 16%
• Number of Shares Bids: 72,85,960 shares
• Number of Shares on Offer: 4,55,32,785 shares

Segment-wise Subscription:

• Retail Individual Investors (RIIs): 47%
• Qualified Institutional Buyers (QIBs): 13%
• Non-Institutional Investors: 2%

Aye Finance IPO Details:

• Issue Size: Rs 1,010 crore
• Price Band: Rs 122-129 per share
• Valuation: Rs 3,184 crore (at the upper end of the band)
• Listing Date: February 16

Company Utilization of Proceeds:

The company proposes to utilize the net proceeds from the fresh issue to strengthen its capital base, support future capital requirements arising from the expansion of its business and asset base.

About Aye Finance:

Aye Finance is a middle-layer NBFC that focuses on lending to micro and small enterprises (MSEs), a segment that remains largely underserved by traditional banks.

Company Overview:

• Operational States/Territories: 18 states and 3 Union Territories
• Number of Active Customers: 5.9 lakh
• Assets Under Management (AUM): Rs 6,027.6 crore