Aye Finance Makes Flat Market Debut Amidst Positive Market Sentiment

Aye Finance, a non-banking financial company, debuted on the stock market at its issue price of Rs 129. Despite the flat start, shares traded slightly lower. The IPO was fully subscribed, with proceeds intended to bolster capital for business expansion. The company serves underserved micro and small enterprises.

Aye Finance, a notable non-banking financial company, began trading on the stock market Monday, listing at its issue price of Rs 129. Despite a flat start, shares subsequently dipped 3.17% to Rs 124.91 on the NSE.

The company's market debut coincided with a broadly positive day for the equity markets, as the 30-share BSE Sensex climbed by 165.32 points and the NSE Nifty rose by 57.25 points.

Last week, Aye Finance's IPO was fully subscribed with a price band set at Rs 122-129 per share. The company plans to use proceeds from the Rs 1,010-crore IPO to enhance its capital base, supporting future growth in serving micro and small enterprises, a segment underserved by traditional banks.

(With inputs from agencies.)