Aye Finance IPO: Check IPO Date, Live Subscription and Key Details
Aye Finance Limited, established in 1993, is a professionally managed New-age NBFC dedicated to bridging the credit gap for India's underserved micro-scale MSMEs. Utilizing a hybrid 'Phygital' model, the company combines a vast physical network of 568 branches with advanced AI/ML-driven underwriting to provide small-ticket working capital loans. As of September 2025, Aye Finance manages an AUM of ₹6,027.62 Crore, serving over 5.8 lakh active customers across 18 states. The firm is backed by high-profile global investors including Alphabet's CapitalG, Elevation Capital, LGT Capital, and British International Investment.
Price Range
₹122.0 - ₹129.0
Issue Size
₹1,010 Cr
Lot Size
116 shares
IPO Type
Mainboard
GMP
-
Est. Listing Price
₹129
Estimate Profit
-
Retail Portion
10.00%
Key Metrics
Check Live GMPGMPFace Value
₹2
EPS
5.24
P/E Ratio
24.64
RoNW
12.12%
ROE
12.12%
Debt to Equity
2.73
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Timeline
IPO Opens
9 Feb
IPO Closes
11 Feb
Allotment
12 Feb
Listing
16 Feb
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 9 February 2026 | Subscription starts |
| IPO Close Date | 11 February 2026 | Subscription ends |
| Allotment Date | 12 February 2026 | Allotment |
| Listing Date | 16 February 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,964 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,94,532 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,09,496 |
SHNI (Max)Below ₹10,00,000 | 66 | ₹9,87,624 |
BHNIAbove ₹10,00,000 | 67 | ₹10,02,588 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 75.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 10.00% |
| Total | 100.00% |
IPO Objectives
- Augmenting the company's capital base to meet future capital requirements arising out of growth in business and assets (₹710.00 Cr).
- Achieving the benefits of listing on the stock exchanges.
- General Corporate Purposes.
Strengths
- The company addresses a Massive Market Opportunity by focusing on the underserved micro-MSME segment in India with a highly scalable, cluster-based lending model.
- It benefits from Marquee Investor Backing, with support from high-tier global institutions like Alphabet (Google), Elevation Capital, and LGT, ensuring robust governance.
- The business maintains a Phygital Competitive Edge, combining 568 branches with proprietary AI tools for efficient underwriting and lower customer acquisition costs.
- It shows Robust Asset Quality, maintaining a controlled Net NPA of 1.40% (Sept 2025), which remains competitive within the small-ticket lending sector.
- The company has achieved Consistent Financial Growth, demonstrated by a strong AUM CAGR of over 42% between FY23 and FY25 with stable return ratios.
Weaknesses
- There is evidence of Asset Quality Pressure, with delinquencies (90+ DPD) rising to 5.1% in H1 FY26, largely due to income shocks in the marginal borrower segment.
- The business faces Margin Compression, as a shift toward lower-yielding mortgage loans and higher credit costs kept FY25 profits relatively flat at ₹175 Cr.
- The company deals with a Sensitive Borrower Profile, lending primarily to informal sector businesses that are highly vulnerable to economic disruptions and regulatory changes.
- As an NBFC, it is subject to High Borrowing Costs, making profitability dependent on cost-effective financing in a fluctuating interest rate environment.
- The Low Retail Quota (10%) is likely to lead to intense competition for allotment and potentially very high oversubscription levels.
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Financial Performance
| Period Ended | 30 Sep 2025 (H1) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 7,116.01 | 6,338.63 | 4,869.59 | 3,126 |
| Revenue (₹ Cr.) | 863.02 | 1,504.99 | 1,071.75 | 643.34 |
| PAT (₹ Cr.) | 64.6 | 175.25 | 171.68 | 39.87 |
| Net Worth (₹ Cr.) | 1,727.37 | 1,658.87 | 1,232.65 | 754.49 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Aye Finance Limited | 1.71 | 24.64 | 12.12% | 1,727.37 |
| SBFC Finance Ltd. | 3.08 | 28.55 | 10.82% | 3,190 |
Subscription Details
Daily Bids Status
| Category | Day 1 |
|---|---|
| QIB | 0.14x |
| NII | 0.01x |
| S-HNI | 0.03x |
| B-HNI | 0x |
| RII | 0.28x |
| Total | 0.13x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 2,30,22,509 | 31,88,376 | 41.13 |
| NII | 1,17,44,186 | 1,06,836 | 1.38 |
| Small NII | 39,14,729 | 98,716 | 1.27 |
| Big NII | 78,29,457 | 8,120 | 0.1 |
| RII | 78,29,457 | 21,80,220 | 28.12 |
| Total | 4,25,96,152 | 54,75,432 | 70.63 |
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Company Details
- Aye Finance Ltd.
- M-5, Magnum House-I, Community Centre, Karampura, New Delhi, New Delhi, 110015
- +91 124 484 4000
- secretarial@ayefin.com
- https://www.ayefin.com/
Registrar Details
- Kfin Technologies Ltd.
- 04067162222, 04079611000
- ayefinance.ipo@kfintech.com
- https://ipostatus.kfintech.com/
Frequently Asked Questions
What is the core business of Aye Finance?
Aye Finance is a specialized NBFC providing secured and unsecured small business loans (mortgage, property, and hypothecation) to micro-MSMEs across India, using a tech-enabled phygital delivery model.
When does the Aye Finance IPO open and close?
The IPO opens for public subscription on February 9, 2026, and will close on February 11, 2026.
What is the IPO price band and minimum retail investment?
The price band is fixed at ₹122 to ₹129 per share. A retail investor needs to apply for a minimum of 1 lot (116 shares), which costs ₹14,964 at the upper price band.
What is the latest GMP for Aye Finance IPO today?
As of February 4, 2026, the Grey Market Premium (GMP) is currently reported at ₹0 (Flat), as trading in the secondary gray market has not yet picked up steam. This is expected to change once anchor bidding concludes.
Is Aye Finance a profitable company?
Yes, Aye Finance has been consistently profitable, reporting a PAT of ₹175.25 Crore in FY25. However, profitability in H1 FY26 saw some pressure due to higher credit costs and asset quality fluctuations.
Where will the shares be listed and what is the allotment date?
The shares will list on the BSE and NSE mainboard. Allotment is expected on February 12, 2026, with a tentative listing date of February 16, 2026.
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