IPO Alert: Aye Finance to Open for Subscription on February 9

Gurgaon-based NBFC Aye Finance is set to open its ₹1,010 crore initial public offering on February 9, with the issue comprising both fresh equity and an offer for sale by existing shareholders.  

The company focuses on lending to micro and small enterprises and is backed by several global institutional investors. 

Issue Structure and Timeline 

The initial public offering (IPO) consists of a fresh issue of equity shares worth ₹710 crore and an offer for sale (OFS) of ₹300 crore by 5 shareholders: Alpha Wave India, MAJ Invest Financial Inclusion Fund, CapitalG, LGT Capital, and Vikram Jetley.  

The anchor investor book will open for one day on February 6, while the public subscription window will run from February 9 to February 11. Share allotment is expected to be finalised by February 12, and the stock is scheduled to list on exchanges on February 16. 

Up to 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail participants. 

Business Profile and Financial Performance 

Founded by Sanjay Sharma and Vikram Jetley, Aye Finance operates as an NBFC-middle layer lender serving micro-scale MSMEs across India.  

As of September 2025, the company reported 5.86 lakh active customers and assets under management of ₹6,027.6 crore. Proceeds from the fresh issue will be used to strengthen the capital base to support future business and asset growth. 

For the 6 months ended September 2025, profit stood at ₹64.6 crore, down 40% year-on-year, while net interest income rose 15.6% to ₹475 crore. For FY25, profit reached ₹175.3 crore, up 2%, and net interest income increased 37.9% to ₹858 crore. 

Read More: Fractal Analytics Files ₹2,833.9 Crore IPO With Fresh Issue and OFS Components! 

Conclusion 

The IPO marks Aye Finance’s move to raise growth capital while providing partial exits to early institutional investors. Axis Capital, IIFL Capital Services, JM Financial, and Nuvama Wealth Management are working as the lead managers for the IPO. 

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