New Delhi, February 11 The initial public offering (IPO) of non-banking financial company (NBFC) Aye Finance received 97% subscription on the final day of bidding on Wednesday.
According to NSE data, the IPO received bids for 4,42,21,288 shares against 4,55,32,785 shares on offer.
The portion for qualified institutional buyers (QIBs) fetched 1.5 times the subscription, while the category for retail individual investors (RIIs) received 77% subscription. The portion for non-institutional investors received only 5% subscription.
According to an Aye Finance spokesperson, the total issue was Rs 1,010 crore with a price band of Rs 122-Rs 129. The company has received bids more than the offer size at the upper end of the price band.
"Effectively, against a total bid size of Rs 1,010 crore, the IPO has been completely subscribed. However, in the NSE and BSE, the total number of shares is always computed at the lower cut-off of the band," the spokesperson added.
The company has fixed a price band of Rs 122-129 per share, valuing the company at Rs 3,184 crore at the upper end of the band.
The Rs 1,010-crore IPO comprises a fresh issue of equity shares worth up to Rs 710 crore and an offer for sale (OFS) of up to Rs 300 crore by existing shareholders.
The company proposes to utilize the net proceeds from the fresh issue to strengthen its capital base, supporting future capital requirements arising from the expansion of its business and asset base.
Aye Finance is scheduled to list on the BSE and NSE on February 16.
Classified as a middle-layer NBFC, Aye Finance focuses on lending to micro and small enterprises (MSEs), a segment that remains largely underserved by traditional banks.
As of September 30, 2025, Aye Finance operates in 18 states and three Union Territories, serving around 5.9 lakh active customers, with assets under management (AUM) of Rs 6,027.6 crore.
Axis Capital Ltd, IIFL Capital Services, JM Financial, and Nuvama Wealth Management are the book-running lead managers.
