Aye Finance Limited sets ₹122–₹129 IPO price band; issue opens February 9
Aye Finance IPO opens February 9 at ₹122–₹129 as MSME lender looks to scale nationwide
Aye Finance IPO reflects confidence in MSME lending model: Sanjay Sharma
Aye Finance Limited fixes IPO price band at ₹122–₹129; issue opens February 9
Aye Finance Limited IPO: Key Highlights
Aye Finance Limited has fixed a price band of ₹122–₹129 per equity share for its initial public offering, which will open on February 9, 2026, and close on February 11, 2026. The IPO comprises a ₹710-crore fresh issue along with a ₹300-crore offer for sale by existing investors.
The MSME-focused NBFC operates across 18 states and three Union Territories, serving over 5.86 lakh active customers, with assets under management of ₹6,027.62 crore as of September 30, 2025. The company reported strong financial growth, with FY25 revenue of ₹1,459.73 crore and net profit of ₹175.25 crore. Proceeds from the issue will be used to strengthen capital adequacy and support future growth, particularly in underserved micro and small business segments.
Bilkul Bazaar | By Rafat Quadri
Ahmedabad | 06 Feb 2026
Aye Finance Limited, a leading MSME-focused non-banking financial company, has fixed a price band of ₹122 to ₹129 per equity share of face value ₹2 for its initial public offering (IPO), which will open for subscription on Monday, February 9, 2026, and close on Wednesday, February 11, 2026.
The IPO comprises a fresh issue aggregating up to ₹710 crore and an offer for sale (OFS) of up to ₹300 crore by existing shareholders, including Alpha Wave India I LP, MAJ Invest Financial Inclusion Fund II K/S, CapitalG LP, LGT Capital Invest Mauritius PCC (Sale E/VP), and Vikram Jaitley.
Investors can bid for a minimum of 116 equity shares, and thereafter in multiples of 116 shares. The company has 19,17,45,507 equity shares outstanding as on date.
Commenting on the IPO, Sanjay Sharma, Founder & Managing Director, Aye Finance Limited, said,
“This IPO marks an important milestone in Aye Finance’s journey. Over the years, we have built a scalable and responsible lending platform focused on underserved MSMEs. The capital raised will further strengthen our balance sheet and enable us to expand our reach across geographies while continuing to serve small entrepreneurs who form the backbone of India’s economy.”
Sovan Satyaprakash, Chief Financial Officer, added, “Our consistent financial performance, disciplined underwriting, and geographically diversified portfolio have helped us scale profitably. The proceeds from the fresh issue will support business growth and improve capital adequacy, positioning the company well for the next phase of expansion.”
Aye Finance Limited is registered as a Non-Banking Financial Company – Middle Layer (NBFC-ML) and primarily provides secured business loans to micro, small and medium enterprises (MSMEs) across manufacturing, trading, services, and agriculture sectors. The company caters to working capital and business expansion needs, typically offering small-ticket loans with an average ticket size of around ₹1.8 lakh per disbursement.
As per a CRISIL report, the company is among the most geographically diversified MSME-focused NBFCs in India, with operations spanning 18 states and three Union Territories. As of September 30, 2025, Aye Finance had 5,86,825 active unique customers and assets under management (AUM) of ₹6,027.62 crore.
The company has reported strong financial growth, with revenue from operations of ₹843.5 crore for the six months ended September 30, 2025, compared to ₹692 crore in the corresponding period last year. Revenue for FY25 stood at ₹1,459.73 crore, up from ₹623.42 crore in FY23, while net profit rose sharply to ₹175.25 crore in FY25 from ₹39.87 crore in FY23.
Priyank Kadel, Analyst at JM Financial, said during the media interaction, “Aye Finance stands out among MSME lenders due to its granular loan book, strong understanding of borrower cash flows, and wide geographic presence. These factors have helped the company maintain stable credit costs while scaling its operations.”
The issue is being made through the book-building process, with 75% of the net issue allocated to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 10% to Retail Individual Investors (RIIs).
Axis Capital Limited, IIFL Capital Services Limited, JM Financial Limited, and Nuvama Wealth Management Limited are the book-running lead managers to the issue, while KFin Technologies Limited is the registrar.
Senior management of the company, including Founder & MD Sanjay Sharma, CFO Sovan Satyaprakash, and representatives from the lead managers, were present in Ahmedabad on Thursday, where they interacted with the media and shared insights on the company’s growth strategy and IPO objectives.
Disclaimer: This news is for informational purposes only. Please refer to official offer documents and consult a financial advisor before investing.
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