Minimum Investment
About Company
Company Name: Aye Finance Limited
Industry / Sector: NBFC / Small Business Loans to Micro-Scale MSMEs
Founded Year: 1993
Promoters: Not explicitly detailed in public summaries (Marquee investors backed; professional management team)
Incorporated in 1993, Aye Finance Limited is an NBFC offering secured and unsecured small-ticket business loans for working capital and expansion, primarily to micro-scale MSMEs in manufacturing, trading, service, and allied agriculture sectors. Products include mortgage loans, ‘Saral’ Property Loans, secured and unsecured hypothecation loans. It serves 586,825 active customers across 18 states and 3 union territories with significant AUM. Employs 10,459 full-time staff as of Sep 30, 2025.
IPO Basic Details
| Company Name | Aye Finance Limited |
| IPO Type | Mainboard IPO |
| Price Band | ₹122 – ₹129 |
| Lot Size | 116 |
| Total Issue Size | ₹1,010 Cr (7,82,94,571 shares approx) |
IPO Strengths & Risks
Strengths
- Leading lender in small-ticket MSME loans with comprehensive offerings
- Strong sourcing & high customer retention via pan-India presence
- Effective underwriting methodology
- Robust multi-tiered collection capabilities
- Technological prowess for resilience
- Diversified lender base & cost-effective financing
- Experienced management backed by marquee investors
Risks
- Credit & default risks in micro-MSME segment
- Interest rate & liquidity risks
- Regulatory changes in NBFC space
- Competition from banks/NBFCs
- Economic slowdown impact on MSMEs
IPO Important Dates
| IPO Open Date | 09 Feb 2026 |
| IPO Close Date | 11 Feb 2026 |
| Basis of Allotment | 12 Feb 2026 |
| Refund Initiation | 13 Feb 2026 |
| Demat Credit Date | 13 Feb 2026 |
| Listing Date | 16 Feb 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | 11 Feb 2026 |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – Remaining (including potential debt/expansion)
Investor Reservation
| QIB Quota | 75.00% (incl. Anchor 45.00% / 3,52,32,558 shares; QIB ex-anchor 30.00%) |
| Retail Quota | 10.00% (78,29,456 shares) |
| HNI Quota | 15.00% (bNII 10.00% / 78,29,457 shares; sNII 5.00% / 39,14,728 shares) |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 lot | 116 | ₹14,964 |
| Retail Maximum | 13 lots | 1508 | ₹1,94,532 |
| S-HNI Minimum | 14 lots | 1624 | ₹2,09,496 |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | 67 lots | 7772 | ₹10,02,588 |
Key Performance Indicators (KPI)
| ROE | 7.63% (Sep 2025) / 12.12% (Mar 2025) |
| ROCE | N/A |
| RoNW | 3.82% (Sep 2025) / 12.12% (Mar 2025) |
| PAT Margin | N/A (but PAT growth evident) |
| EBITDA Margin | N/A |
| EPS | ₹9.14 (pre-IPO) / ₹5.24 (post-IPO) |
| NAV per share | N/A |
| Debt to Equity | 3.02 (Sep 2025) / 2.73 (Mar 2025) |
| P/E Ratio | 14.11x (pre) / 24.64x (post) |
| Industry P/E | 15–30x (NBFC/micro-lending) |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹3,126.00 Cr | ₹643.34 Cr | ₹39.87 Cr | N/A | ₹754.49 Cr | ₹2,296.16 Cr |
| 31 Mar 2024 | ₹4,869.59 Cr | ₹1,071.75 Cr | ₹171.68 Cr | N/A | ₹1,232.65 Cr | ₹3,498.99 Cr |
| 31 Mar 2025 | ₹6,338.63 Cr | ₹1,504.99 Cr | ₹175.25 Cr | N/A | ₹1,658.87 Cr | ₹4,526.33 Cr |
| 30 Sep 2025 | ₹7,116.01 Cr | ₹863.02 Cr | ₹64.60 Cr | N/A | ₹1,727.37 Cr | ₹5,218.50 Cr |
Grey Market Premium
| GMP Price | ₹0 to negative (~0% to -1.55%) |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Feb 2026 |
| Estimated Listing Price | ₹127–129 (actual listed at par ₹129 on BSE/NSE, flat/muted debut) |
IPO Subscription Data
| Total Subscription | 1.04x (final on close) |
| QIB (Ex Anchor) | 1.62x |
| HNI Subscription | 0.05x (NII very low) |
| Retail Subscription | 0.81x |
| Anchor | - |
IPO Intermediaries
Registrar: MUFG Intime India Private Limited (likely; standard for mainboard)
Registrar Website: https://in.mpms.mufg.com
IPO Lead Manager(s)
Company Information
Address: M-5, Magnum House-I, Community Centre, Karampura, New Delhi, Delhi 110015
Website: https://www.ayefin.com/
Email: secretarial@ayefin.com
Phone: +91 124 484 4000
IPO Documents
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