The IPO market is heating up again, and Aye Finance, an NBFC focused on lending to MSMEs, is set to hit the stock exchanges soon.
The company plans to raise ₹1,010 crore, and its shares are expected to list by February 16, 2026.
Here’s everything investors need to know before the IPO opens.
Offer Size, Price Band, and Subscription Schedule
Aye Finance’s IPO is a book-built issue worth ₹1,010 crore:
Fresh issue: 5.5 crore shares worth ₹710 crore
Offer for sale (OFS): 2.33 crore shares worth ₹300 crore
The price band is set at ₹122–₹129 per share, with a face value of ₹2 each.
Subscription schedule:
Anchor investors: February 6
Public subscription opens: February 9
Closes: February 11
Allotment: February 12
Credit to demat accounts and refunds: February 13
Listing on NSE and BSE: February 16
The IPO is being managed by Axis Capital, IIFL Capital, JM Financial, and Nuvama Wealth Management, with KFin Technologies as the registrar.
Minimum Investment and Lot Size
Retail investors can apply for a minimum of 1 lot (116 shares), which would cost approximately ₹14,964 at the upper price band.
Small NIIs: Minimum 14 lots (₹2.09 lakh)
High NIIs: Minimum 67 lots (₹10.02 lakh)
This structure allows investors of all types to participate, from small retail buyers to large institutional investors.
How the IPO Funds Will Be Used
The money raised from the fresh issue will primarily be used to:
Meet capital requirements
Pay IPO-related expenses such as listing fees and BRLM fees
Expand the company’s mortgage portfolio
Invest in technology to strengthen operations
The company expects these funds to support its growth and improve its overall capital structure during FY27.
Risks Investors Should Consider
Aye Finance’s business focuses on lending to micro and small enterprises, which comes with certain risks:
Borrower defaults could impact operations and finances
Gross NPA stood at 4.85% in Q2FY26
Risks related to unsecured loans, interest rate hikes, debt obligations, and asset-liability mismatches
High competition in the NBFC sector may affect profitability
Investors should carefully evaluate these risks before investing.
