Aye Finance's Rs 1,010-crore IPO subscribed only 12% on day 1

New Delhi (PTI): The initial public offering of non-banking financial company (NBFC) Aye Finance received 12 per cent subscription on the first day of the share sale on Monday.

The three-day IPO received bids for 54,46,548 shares against 4,55,32,785 shares on offer, according to NSE data.

The portion for retail individual investors (RIIs) subscribed 26 per cent, while the quota for qualified institutional buyers (QIBs) received 13 per cent subscription. The part for non-institutional investors subscribed a mere 1 per cent.

The Rs 1,010-crore initial public offering (IPO) will close on February 11.

Aye Finance on Friday collected Rs 454.5 crore from anchor investors.

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 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.

The IPO is being managed by Axis Capital, IIFL Capital, JM Financial and Nuvama Wealth as book-running lead managers.