Aye Finance's IPO Set to Propel Business Expansion

Aye Finance is launching a Rs 1,010 crore IPO from February 9-11 to enhance its capital base for growth. The IPO includes a fresh issue and an Offer For Sale. Aye Finance, focusing on micro and small enterprise lending, operates across 18 states and three union territories.

Aye Finance announced its Initial Public Offering (IPO) worth Rs 1,010 crore will be open for subscription from February 9 to 11. This move aims to bolster its capital base to support future growth and asset portfolio expansion.

The IPO, with a share price band of Rs 122-129, values Aye Finance at Rs 3,184 crore. It includes a fresh issue worth Rs 710 crore and an Offer For Sale (OFS) of Rs 300 crore. The proceeds from the fresh issue are earmarked to strengthen the capital base for upcoming business expansions.

Aye Finance, a non-banking financial company (NBFC) focused on micro and small enterprises lending, will list on the BSE and NSE on February 16. With operations in 18 states and three union territories, it serves approximately 5.9 lakh customers with an AUM of Rs 6,027.6 crore.

(With inputs from agencies.)