Aye Finance IPO – Key Details

• Company: Gurugram‑based NBFC providing secured/unsecured business loans to micro/small enterprises (manufacturing, trading, services). Most geographically diversified MSME lender per CRISIL; 0.9% NPAs, 72% PCR.

• IPO size: ₹1,010 crore = fresh issue ₹710 crore (5.50 Cr shares) + OFS ₹300 crore (2.23 Cr shares by promoters/investors like CapitalG, LGT Capital). FV ₹2/share.
• Price band: ₹122–₹129 per share.
• Lot size: 116 shares (minimum retail bid: ₹14,152–₹14,964).
  • Retail max: 13 lots (1,508 shares, ~₹1,84,000).
  • sNII min: 14 lots (1,624 shares).
     
• IPO timeline:
  • Anchor: Feb 6, 2026.
  • Open: Feb 9–11, 2026.
  • Allotment: Feb 12, 2026.
  • Listing: Feb 16, 2026 (BSE, NSE).
• Market Cap (Pre-IPO) :- Rs 324.85 crore
• Face Value:- Rs 2 per share
• Sale type :- Fresh capital & OFS
• Total issue size :- Rs. 1,010 crore
• Fresh capital:- Rs 710 crore
• OFS :- Rs 300 crore
• Lead managers: Axis Capital, IIFL, JM Financial, Nuvama. Registrar: KFin Technologies.

Company Financials (Restated Consolidated)

Objective of the IPO :-

• Funding Capital Expenditure for expansion of our New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs)

• Working Capital Requirements for New EBOs and MBOs
• Working Capital Requirements for Existing EBOs and MBOs
• General Corporate Expenses

Strengths

• MSME credit gap leader: Addresses India's massive formal credit shortfall for micro‑enterprises with scalable small‑ticket lending.
• Geographic diversification: Most widespread MSME NBFC per CRISIL, reducing regional concentration risks.
• Superior asset quality: 0.9% NPAs + 72% PCR beats peers; 291% PAT growth FY24.
• Healthy growth: Revenue ~₹1,800 Cr+ FY24, RoE 17.2%, manageable D/E 2.8.
• Scalable model: Tech‑driven underwriting + nationwide branches fuel loan book expansion.
• Strong IPO backing: Axis, IIFL, JM Financial as leads; marquee investors like CapitalG exiting partially.

Risks

• Asset quality risk: MSME lending inherently volatile; even 0.9% NPAs could rise in economic downturns.
• OFS component (~30%): ₹300 Cr seller exits (CapitalG, promoters) may pressure listing gains.
• Interest rate sensitivity: Borrowings fund lending; rising rates could squeeze NIMs.
• Competition: Intense from banks, other NBFCs (Bajaj Finance, Muthoot, etc.) in MSME space.
• Regulatory risk: NBFC rules tightening (RBI provisioning, capital adequacy).
• Cyclical exposure: Micro‑enterprise defaults spike in slowdowns. ​

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 

• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

FAQs

1. When does Aye Finance IPO open?
Feb 9–11, 2026. Anchor: Feb 6. Listing: Feb 16, 2026 (BSE/NSE).

2. Aye Finance IPO price band and lot size?
₹122–₹129/share. Lot: 116 shares (min. ₹14,152–₹14,964).

3. What is Aye Finance IPO size?
₹1,010 Cr = fresh ₹710 Cr + OFS ₹300 Cr.

4. Aye Finance business model?
Small‑ticket MSME loans (₹1.5 lakh avg.) – mortgage, property, hypothecation for micro‑enterprises.

5. Aye Finance financial highlights?
FY24 PAT ₹171.7 Cr (+291% YoY), 0.9% NPAs, RoE 17.2%, D/E 2.8.