Aye Finance's Ambitious IPO: Aiming for a Rs 1,450 Crore Milestone

Aye Finance, an NBFC based in Gurugram, is set to raise Rs 1,450 crore via an IPO. The offering includes a fresh issue of Rs 885 crore and an OFS of Rs 565 crore by various shareholders. Proceeds will bolster its capital base and expand services to MSMEs.

Aye Finance, a Gurugram-based non-banking financial firm, has taken strategic steps by submitting draft papers to Sebi, intending to generate Rs 1,450 crore through an Initial Public Offering (IPO).

The draft documents reveal a fresh share issue worth Rs 885 crore alongside an Offer for Sale (OFS) valued at Rs 565 crore, involving both corporate and individual shareholders.

A significant aim of the IPO is to reinforce the company's capital reserves and widen its operations, particularly focusing on offering loans to micro, small, and medium enterprises, across its extensive network.

(With inputs from agencies.)