Aye Finance IPO: Tepid Investor Response Amid Ambitious Expansion Plans

Aye Finance's IPO received a lukewarm response, with 16% subscription on the second day. The offering attracted bids for over 72 lakh shares against the 4.55 crore available. Retail investors subscribed 47%, while qualified institutional buyers and non-institutional investors subscribed 13% and 2% respectively. The IPO seeks to bolster Aye Finance's capital for business expansion.

The initial public offering of Aye Finance has not attracted strong investor interest, with only a 16% subscription rate on the second day. This comes after a modest 12% subscription on the first day.

According to data from the NSE, retail individual investors led with a 47% subscription, while the segment for qualified institutional buyers received 13% and non-institutional investors showed minimal interest with just 2%.

Despite these numbers, Aye Finance aims to use the funds raised to expand its business, asserting its role as a lender to micro and small enterprises. The IPO will close on February 11, with the company set to debut on the BSE and NSE on February 16.

(With inputs from agencies.)