Muted demand with poor subscription; allotment expected February 12, listing likely on February 16, 2026
Team Sahi
Aye Finance Limited closed its IPO subscription window on February 11, 2026. The IPO comprised a fresh issue of ₹710 crore and an offer for sale of ₹300 crore, with a price band of ₹122–₹129 per share (face value ₹2). The allotment process is expected to be finalized on February 12, 2026, while the listing is tentatively scheduled for February 16, 2026 on the NSE and BSE.
Aye Finance is a Gurugram-based middle-layer NBFC providing secured and unsecured small-ticket loans to micro and small enterprises (MSMEs) across manufacturing, trading, and services sectors.
Registrar: KFin Technologies Limited
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 1.50x |
| Non-Institutional Investors (NII) | 0.05x |
| Retail Individual Investors (RII) | 0.76x |
| Employees | 0.00x |
| Total | 0.97x |
The IPO saw muted demand overall. The anchor book reportedly raised ₹454 crore ahead of the issue, while Grey Market Premium (GMP) remained flat to low.
Aye Finance Limited, incorporated in 2014 and headquartered in Gurugram, Haryana, is a middle-layer NBFC focused on financing underserved MSMEs. The company provides secured and unsecured small-ticket loans to businesses engaged in manufacturing, trading, and services.
As of September 2025, Aye Finance reported an AUM of approximately ₹6,028 crore, with operations spanning 395–478 branches across 18–21 states and union territories.
In FY25, the company reported revenue of ₹1,326 crore and a net profit of ₹175 crore, reflecting strong growth compared to FY23 levels. However, asset quality metrics showed pressure, with GNPA rising to the 4–5% range in recent periods.
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