Aye Finance Ltd. was incorporated on August 12, 1993. The company is a non-banking financial company - middle layer (NBFC-ML) offering business loans to MSMEs across India. It provides working capital and expansion loans secured by working assets or property for manufacturing, trading, service, and agriculture sectors
| Bidding Dates |
|---|
| 09 Feb 2026 - 11 Feb 2026 |
| Subscription |
|---|
| 0.97x Undersubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,152 | 1 | 13 | 116 | 78.3 M | ₹122 - ₹129 | - | ₹9551.9 M - ₹10100.0 M | RHP DOC |
Aye Finance IPO SUBSCRIPTION STATUS
11 Feb '26Aye Finance IPO overall subscription rate was 0.97 times the total available shares
Aye Finance IPO retail subscription rate was 0.77 times in the retail segment
Aye Finance IPO non-institutional investor subscription rate was 0.05 times in the non-institutional investor category
Aye Finance IPO Qualified Institutional Bidder subscription rate was 1.5 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
11 Feb 2026 (Day 3) | 0.77x | 0.05x | 1.5x |
10 Feb 2026 (Day 2) | 0.47x | 0.02x | 0.13x |
09 Feb 2026 (Day 1) | 0.26x | 0.01x | 0.13x |
Aye Finance FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) |
| H1FY26 | 843.5 | 64.6 | -454.9 | -463.5 |
| H1FY25 | 692.2 | 107.8 | -418.8 | -429.1 |
| FY25 | 1,459.7 | 175.3 | -811.8 | -828.5 |
| FY24 | 1,040.2 | 171.7 | -1,322.8 | -1,334.4 |
| FY23 | 623.4 | 39.9 | -720.4 | -724.8 |
Aye Finance IPO SUBSCRIPTION STATUS DETAILS
Aye Finance had 78.3 M shares on offer
Aye Finance IPO offer price was in the range ₹122 - ₹129
Aye Finance IPO minimum Investment was ₹14152
Aye Finance IPO issue size was ₹ 9551.9 M - ₹ 10100.0 M
Aye Finance had a minimum lot size of 116 Shares per application
Aye Finance NUMBER OF SHARES ON OFFER
Aye Finance IPO IMPORTANT DATES
| Issue Open Date | 09 Feb 2026 |
| Issue close Date | 11 Feb 2026 |
| Allotment Date | 12 Feb 2026 |
| Refund Date | 13 Feb 2026 |
| Demat Account Credit Date | 13 Feb 2026 |
| Listing Date | 16 Feb 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Aye Finance Allotment Status | Exchange/ Registrar |
Aye Finance IPO subscription opened on 09 Feb 2026, and closed on 11 Feb 2026
IPO allotment for Aye Finance was finalized on Thursday, 12 Feb 2026
IPO listing for Aye Finance was on NSE and BSE on Monday, 16 Feb 2026
Aye Finance IPO LISTING GAINS
| Issue Price (adjusted) | 129.0 |
| Listing Open Price | 129.0 |
| Listing Close Price | 128.9 |
| Listing Gain% | 0.0% |
| Current Gain% | 32.1% |
Aye Finance Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aye Finance Ltd. | 170.5 | 4206.9 | 17.7 | 0.5 | 2.2 | 7.6 | 2.5 | 1863.2 | 23.8 | 193.6 | 10.5 | 9.6 | 35.5 |
| Bajaj Finance Ltd. | 1078 | 671157.9 | 33.1 | 2 | 7.8 | 16.7 | 3.4 | 81989.5 | 17.6 | 19017.4 | 14.3 | 32.6 | 16.5 |
| Shriram Finance Ltd. | 1115 | 262353.7 | 23.2 | 1.4 | 5.2 | 15.2 | 3.1 | 48192.6 | 15.1 | 10024.2 | 4.9 | 48.1 | 16.8 |
| Jio Financial Services Ltd. | 256.8 | 169568.7 | 82.1 | 3 | 34.6 | 1.2 | 1 | 3542.6 | 70.4 | 1560.9 | -3.2 | 3.1 | 27.2 |
| Cholamandalam Investment & Finance Company Ltd. | 1866.2 | 157282.2 | 27.3 | 0.9 | 4.8 | 17.2 | 2.1 | 31538.7 | 20.6 | 5232.6 | 22.8 | 68.2 | 29.1 |
| Tata Capital Ltd. | 370.3 | 157187.5 | 29.1 | 1 | 4.8 | 10.8 | 1.7 | 31582.6 | 11.3 | 4846.1 | 32.2 | 12.7 | 28.9 |
Aye Finance INFORMATION ON IPO ISSUE
About Aye Finance
Aye Finance Ltd. was incorporated on August 12, 1993. The company is a non-banking financial company - middle layer (NBFC-ML) offering business loans to MSMEs across India. It provides working capital and expansion loans secured by working assets or property for manufacturing, trading, service, and agriculture sectors
Object of the Issue
- Towards augmenting the capital base to meet the company’s future capital requirements arising out of growth of the business and assets
Aye Finance - PROMOTERS
| Name |
|---|
| Elevation Capital |
Aye Finance - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Govinda Rajulu Chintala | Chairperson & Independent Director |
| Sanjay Sharma | Managing Director & Executive Director |
| Sanjaya Gupta | Independent Director |
| Kanika Tandon Bhal | Independent Director |
| Vinay Baijal | Independent Director |
| Padmaja Nair | Independent Director |
| Aditya Misra | Non-Executive & Non-Independent Director |
Aye Finance Book Running Lead Manager
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Aye Finance Registrar to the Offer
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Aye Finance Strengths
Geographical presence
The company operates across 387 districts in 18 states and 3 union territories with 499 branches, covering all four zones-North, South, East, and West. Experienced teams in each region ensure a strong business foundation and broad customer reach
Effective underwriting methodology
The company's underwriting expertise, refined over the years, provides a competitive edge in addressing challenges like limited financial records, small loan sizes, and reluctance to provide collateral, common in lending to MSMEs
Multi-tiered collection capabilities
The company’s collection processes are tailored to suit the repayment behaviors of its target customers, starting with ACH mandates to reduce cash collection in the field
Aye Finance Risks
Risks of non-payment or default
The company primarily serves micro-scale businesses in semi-urban areas, including Tier II, III, and IV cities, with annual turnovers of Rs 2 to Rs 10 million. Lending to MSMEs involves challenges like limited financial records and reluctance to offer property as collateral
Accuracy and completeness of information
The company's operations rely on accurate information from customers and third-party providers. Erroneous or misleading data can impact creditworthiness assessments and the valuation or title of collateral
Interest rate risks
The business is exposed to interest rate risk, where volatility may impact net interest income, margins, operations, and cash flows adversely
IPO FAQs
This IPO consists of an offer for sale of up to Rs 300.0 crore, of 23,255,813 shares. It also consists of a fresh issue of Rs 710.0 crore.
The promoter of the company is Elevation Capital.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 122.0 - 129.0.
The IPO application opens on Feb 09, 2026 and closes on Feb 11, 2026.
The minimum lot size for the IPO is 116. The maximum lot size for the IPO is 1508.
For all category investors, the minimum application amount for this IPO is Rs. 14,152.0, the maximum value for this IPO is Rs 194,532.0.
This IPO will be allotted on Feb 12, 2026.
The refund will be credited to your account on Feb 13, 2026.
The allotted shares will be credited to your demat on Feb 13, 2026.
Aye Finance Ltd.’s shares listed on the stock exchanges on Feb 16, 2026.