Summary of this article
Aye Finance IPO opened on Feb 9, 2026 and will close on Feb 11
Aye Finance IPO has been subscribed 0.02 times, as of 11:00 AM on Day 1
GMP was nil, signalling a flat or muted debut for the issue
Aye Finance IPO GMP: The initial public offering (IPO) of the Gurugram-based non-banking financial company (NBFC) Aye Finance opened on February 9, 2026 and will close on February 11. Ahead of the opening of the subscription window, the NBFC raised Rs 454.50 crore from 19 institutional investors in the anchor round, allotting 35.20 million equity shares. Nippon Life India and Goldman Sachs Fund were the biggest investors, buying shares worth Rs 74 crore. Among other marquee investors were Societe Generale, Ashoka India Equity Investment Trust, BNP Paribas Financial Markets, Abakkus, HDFC Life Insurance, 360 ONE, and Bank of India MF.
Of the total anchor allocation, two domestic mutual funds subscribed to about 7.67 million equity shares, or 21.80 per cent, through four schemes.
Meanwhile, Aye Finance IPO’s grey market premium (GMP) indicates a muted demand for its shares in the unlisted space.
Incorporated in 1993, Aye Finance is a NBFC which provides secured and unsecured small business loans to micro, small and medium enterprises (MSME) across manufacturing, trading, services and allied agriculture sectors.
Aye Finance Subscription Status: Day 1
An hour into the opening of subscription, Aye Finance IPO received bids for 9,89,480 shares against a total of 4,55,32,785 shares on offer, translating into 0.02 times subscription.
Qualified institutional buyers (QIBs) and non-institutional investors (NIIs) categories so far received nil subscription, while retail investors placed bids for 0.12 times their quota.
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 aims to raise Rs 1,010 crore through a fresh issue of 55 million equity shares aggregating to Rs 710 crore and an offer-for-sale (OFS) component of 23.30 million shares worth Rs 300 crore.
The price band for the issue has been fixed at Rs 122–129 per share, with a lot size of 116 shares. At the upper end of the price band, retail investors will need to invest a minimum of Rs 14,964 to apply for the IPO.
The allotment of shares is expected to be finalised on February 12, 2026, while the stock is set 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 to the issue, while Kfin Technologies is acting as the registrar.
Aye Finance IPO GMP Today
As of 10:29 AM on February 9, the Aye Finance IPO was commanding a GMP of nil, according to websites that track grey market trades, after slipping from a peak of Rs 5 seen on February 4.
At the current GMP and the upper end of the price band of Rs 129, the shares are expected to debut at around Rs 129 apiece, suggesting a flat listing with no listing gains for investors.
Aye Finance IPO Objectives
The company plans to use the Rs 710 crore net proceeds primarily to strengthen its capital base and meet future capital requirements arising from the growth of its business and asset base. The objects of the issue have not been appraised by any bank or financial institution. Any variation in the utilisation of net proceeds, as disclosed in the red herring prospectus (RHP), will be subject to regulatory and compliance requirements, including prior approval from shareholders, the company said in its RHP.
Aye Finance Financials
For the half year ended September 30, 2025 (H1FY26), Aye Finance reported total income of Rs 863.02 crore and a profit after tax (PAT) of Rs 64.60 crore. In FY25, the company posted total income of Rs 1,504.99 crore, while PAT stood at Rs 175.25 crore.
The company’s total assets expanded to Rs 7,116.01 crore as of September 30, 2025, from Rs 3,126 crore as of March 31, 2023. Net worth increased to Rs 1,727.37 crore as of September 2025, compared with Rs 754.49 crore in FY23.
Borrowings also grew in line with business expansion, with total debt at Rs 5,218.50 crore as of September 30, 2025, up from Rs 2,296.16 crore as of March 31, 2023.
