Aye Finance IPO

Listed

MainboardOpens 9 February 2026Closes 11 February 2026

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…

Live GMP Subscription Allotment

Price band

₹122 - ₹129

Issue size

₹1,010 Cr

Lot size

116 shares

Type

Mainboard

GMP

₹-3 (-2.3%)

Est. listing

₹126

Est. profit / app

₹-348

Retail quota

10.00%

Key ratios

As per RHP / filings

Face value

₹2

EPS

5.24

P/E ratio

24.64

RoNW

12.12%

ROE

12.12%

Debt / Equity

2.73

Timeline

IPO Opens
9 Feb 2026
IPO Closes
11 Feb 2026
Allotment
12 Feb 2026
Listing
16 Feb 2026

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.

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	Day 2	Day 3
QIB	0.14x	0.14x	1.62x
NII	0.01x	0.02x	0.05x
S-HNI	0.03x	0.04x	0.11x
B-HNI	0x	0x	0.02x
RII	0.28x	0.49x	0.81x
Total	0.13x	0.17x	1.04x

Overall Subscription Statistics

Category	Shares Offered	Shares Bid	Bid Amount (₹ Cr)
QIB	2,30,22,509	3,72,41,220	480.41
NII	1,17,44,186	6,23,616	8.04
Small NII	39,14,729	4,47,412	5.77
Big NII	78,29,457	1,76,204	2.27
RII	78,29,457	63,56,452	82
Total	4,25,96,152	4,42,21,288	570.45

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.

Aye Finance IPO News & Updates

Follow the latest updates for Aye Finance IPO, including grey market moves and allotment news.

Aye Finance IPO IPO Pages

Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.

Aye Finance IPO Details

Issue size, price, financials, and company info

Aye Finance IPO GMP

Live grey market premium and listing estimate

Aye Finance IPO Subscription

QIB, NII, Retail, SHNI and BHNI subscription

Aye Finance IPO Allotment

Allotment date, chances, and check by PAN

Aye Finance IPO Review

SWOT, strengths, risks, and IPO review

Aye Finance IPO FAQ

Common questions on dates, GMP, and allotment

Aye Finance IPO Registrar

Registrar website and how to check allotment

Aye Finance IPO Timeline

Open, close, allotment, and listing dates

Aye Finance IPO News

Updates, blogs, and latest IPO news

Sources

We match Aye Finance IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

SEBIRules for IPO allotment and disclosures in India
NSEExchange notices, bidding data, and listing updates
BSEExchange notices and IPO allotment check tools
RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
Kfin Technologies Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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