Aye Finance IPO: Check day 2 subscription status, latest GMP, issue details & more
Aye Finance is selling its shares in the price band of Rs 122-129 apiece, applied for a minimum of 116 shares and its multiples to raise Rs 1,010 crore between February 9-11.
- Feb 10, 2026,
- Updated Feb 10, 2026 1:55 PM IST
The initial public offering (IPO) of Aye Finance continued to see weak bidding from the investors on the second day of the bidding process from all categories of the investors. The issue, which kicked off on Monday, February 09, was overall booked little more than 10 per cent on the first day of the bidding.
Aye Finance is selling its shares in the price band of Rs 122-129 apiece. Investors can apply for a minimum of 116 shares and its multiples thereafter. It is looking to raise Rs 1,010 crore via IPO, which includes a fresh share sale of Rs 710 crore and an offer-for-sale (OFS) of up to 5.50 crore equity shares worth Rs 300 crore.
According to the data, the investors made bids for 67,87,044 equity shares, or 15 per cent, compared to the 4,55,32,785 equity shares offered for the subscription by 1.40 pm on Tuesday, February 11, 2026. The bidding for the issue shall continue for three trading days and close for bidding on Wednesday, February 11.
The allocation for retail investors was subscribed 42 per cent, while the portion reserved for non-institutional investors (NIIs) saw a subscription of only one per cent. The portion reserved for qualified institutional bidders (QIBs) was subscribed 13 per cent as of the same time.
Incorporated in 1993, New Delhi-Aye Finance is an NBFC offering secured and unsecured small business loans for working capital, including mortgage loans, ‘Saral’ Property Loans, secured and unsecured hypothecation loans, primarily to micro-scale MSMEs.
Ahead of its IPO, Fractal Analytics raised Rs 460.51 crore from 19 anchor investors as it allocated 3,52,32,558 equity shares at Rs 129 apeice. It reported a net profit at Rs 64.60 crore with a revenue of Rs 863.02 crore for the six months ended on September 30, 2025. It clocked a net profit of Rs 175.25 crore with a revenue of Rs 1504.99 crore for the financial year 2024-25.
Aye Finance, as an NBFC-ML focused on MSME lending, is strategically positioned to capitalize on the sustained growth opportunity in the segment. With its focus on small-ticket, secured, and semi-secured business loans, it caters to underserved micro enterprises that remain largely outside the formal credit ecosystem. Investors may consider the IPO as a potential long-term investment opportunity, said Master Capital Services.
Aye Finance has reserved 75 per cent for the issue for the qualified institutional bidders (QIBs), while 15 per cent shares are reserved for non-institutional investors (NIIs). Retail investors have only 10 per cent of shares allocated towards them. At the current valuations, Aye Finance shall command a market capitalization close to Rs 3,185 crore.
The issue is valued at a P/B of 1.84 times based on FY25 earnings. The valuation is broadly in line with industry peers, said StoxBox by BP Equities. "Given its scalable model expanding distribution footprint and improving earnings trajectory, we recommend a 'subscribe' rating for the issue," it added.
Last heard, Aye Finance was commanding no grey market premium (GMP), suggesting a muted listing for investors. IIFL Capital Services, JM Finance, Axis Capital and Nuvama Wealth Mangement are the book running lead managers for the IPO and KFin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on Monday, February 16.
The initial public offering (IPO) of Aye Finance continued to see weak bidding from the investors on the second day of the bidding process from all categories of the investors. The issue, which kicked off on Monday, February 09, was overall booked little more than 10 per cent on the first day of the bidding.
Aye Finance is selling its shares in the price band of Rs 122-129 apiece. Investors can apply for a minimum of 116 shares and its multiples thereafter. It is looking to raise Rs 1,010 crore via IPO, which includes a fresh share sale of Rs 710 crore and an offer-for-sale (OFS) of up to 5.50 crore equity shares worth Rs 300 crore.
According to the data, the investors made bids for 67,87,044 equity shares, or 15 per cent, compared to the 4,55,32,785 equity shares offered for the subscription by 1.40 pm on Tuesday, February 11, 2026. The bidding for the issue shall continue for three trading days and close for bidding on Wednesday, February 11.
The allocation for retail investors was subscribed 42 per cent, while the portion reserved for non-institutional investors (NIIs) saw a subscription of only one per cent. The portion reserved for qualified institutional bidders (QIBs) was subscribed 13 per cent as of the same time.
Incorporated in 1993, New Delhi-Aye Finance is an NBFC offering secured and unsecured small business loans for working capital, including mortgage loans, ‘Saral’ Property Loans, secured and unsecured hypothecation loans, primarily to micro-scale MSMEs.
Ahead of its IPO, Fractal Analytics raised Rs 460.51 crore from 19 anchor investors as it allocated 3,52,32,558 equity shares at Rs 129 apeice. It reported a net profit at Rs 64.60 crore with a revenue of Rs 863.02 crore for the six months ended on September 30, 2025. It clocked a net profit of Rs 175.25 crore with a revenue of Rs 1504.99 crore for the financial year 2024-25.
Aye Finance, as an NBFC-ML focused on MSME lending, is strategically positioned to capitalize on the sustained growth opportunity in the segment. With its focus on small-ticket, secured, and semi-secured business loans, it caters to underserved micro enterprises that remain largely outside the formal credit ecosystem. Investors may consider the IPO as a potential long-term investment opportunity, said Master Capital Services.
Aye Finance has reserved 75 per cent for the issue for the qualified institutional bidders (QIBs), while 15 per cent shares are reserved for non-institutional investors (NIIs). Retail investors have only 10 per cent of shares allocated towards them. At the current valuations, Aye Finance shall command a market capitalization close to Rs 3,185 crore.
The issue is valued at a P/B of 1.84 times based on FY25 earnings. The valuation is broadly in line with industry peers, said StoxBox by BP Equities. "Given its scalable model expanding distribution footprint and improving earnings trajectory, we recommend a 'subscribe' rating for the issue," it added.
Last heard, Aye Finance was commanding no grey market premium (GMP), suggesting a muted listing for investors. IIFL Capital Services, JM Finance, Axis Capital and Nuvama Wealth Mangement are the book running lead managers for the IPO and KFin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on Monday, February 16.