Summary of this article
Aye Finance IPO opened for bidding on Feb 9 and will close on Feb 11
Retail investors are leading the subscription, while NIIs have so far been laggards
Aye Finance IPO is quoting a nil GMP as of today, indicating muted listing gains prospects
Aye Finance’s initial public offering (IPO) entered its second day of subscription on February 10. The non-banking financial company’s (NBFC) public issue had opened for bidding on February 9 and will close on February 11.
As of the end of the first day, Aye Finance IPO was subscribed an overall 12 per cent, or 0.12 times the shares on offer. Investors placed bids for 54,46,548 shares against 4,55,32,785 shares on offer.
Retail investors led the subscription, bidding 0.26 times their quota, while the qualified institutional buyers (QIBs) subscribed 0.13 times. Non-institutional investors (NIIs) were laggards, placing bids for only 0.01 times.
Aye Finance IPO Subscription Status: Day 2
As of Day 2, around 11:24 AM, the Aye Finance IPO was subscribed an overall 0.14 times, or 14 per cent.
QIBs booked the issue 0.13 times their quota, NIIs subscribed 0.01 times, while retail investors placed bids for 0.36 times their reservation.
According to the IPO reservation structure, QIBs will be allocated not less than 75 per cent of the net offer. Retail investors will be allotted up to 10 per cent, while NIIs will get up to 15 per cent of the issue.
Aye Finance IPO Details
Aye Finance is looking to raise Rs 1,010 crore through its IPO, which comprises of a fresh issue of 55.04 million shares worth Rs 710 crore and an offer for sale of 23.26 million shares aggregating to Rs 300 crore.
The issue has a price band of Rs 122–129 per share with a lot size of 116 shares. At the upper end of the price band, retail investors will have to invest at least Rs 14,964 per application. For NIIs, the minimum investment stands at Rs 2.09 lakh for small NIIs and Rs 10.02 lakh for big NIIs.
The basis of allotment is likely on February 12, 2026, and the stock is scheduled to list on the BSE and NSE on February 16, 2026. Axis Capital, IIFL Capital Services, JM Financial and Nuvama Wealth Management are the book-running lead managers, while Kfin Technologies is the registrar to the issue.
Aye Finance IPO GMP Today
The Aye Finance IPO's grey market premium (GMP) indicates muted listing prospects. As of 8:35 AM on February 10, the IPO was quoting at a nil GMP, as per grey market tracking websites, after easing from a peak of Rs 5 recorded on February 4.
With the GMP at zero and the upper end of the IPO price band at Rs 129, Aye Finance shares are likely to list around the issue price, indicating a flat listing.
Aye Finance IPO Objectives
Aye Finance, in its red herring prospectus (RHP), said it will use the net proceeds from the fresh issue primarily to strengthen its capital base and support future growth in its business and asset portfolio. The company clarified that the proposed objects of the issue have not been appraised by any bank or financial institution.
Any deviation in the use of proceeds from what has been outlined in the RHP will be carried out in line with applicable regulatory and compliance norms, including prior approval from shareholders, the company noted in its RHP.
"In addition, our company expects to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of our company’s brand name and creation of a public market for our equity shares in India," the NBFC said.
The company plans to deploy the net proceeds during financial year 2027.
