Aye Finance IPO - Company Analysis
Aye Finance IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 1,010 Cr by Aye Finance Ltd. It is an NBFC that primarily serves micro-scale MSMEs by providing secured and unsecured small business loans for working capital, such as mortgage loans, “Saral” property loans, and secured and unsecured hypothecation loans.
The organization provides clients in the manufacturing, trading, service, and related agriculture sectors with business loans for business expansion that are backed by property or operating assets.
With substantial assets under control, the corporation serves 586,825 active clients in 18 states and three union territories.
Products Offered:
- Loans for Mortgages
- Property Loans from Saral
- Loans for Secured Hypothecation
- Loans for Unsecured Hypothecation
Aye Finance IPO Details
The Aye Finance Ltd IPO open date is from Feb 09 to Feb 11, 2026, with IPO allotment on Feb 12 and refund initiation on Feb 13, 2026.
The Rs. 1,010 Cr mainline IPO comprises a combination of a fresh issue of 5.50 crore shares (Rs. 710 Cr) and an offer for sale of 2.33 crore shares (Rs. 300 Cr).
The Aye Finance IPO listing date might be on Monday, 16 February 2026, and it will be listed on the BSE and NSE. The Aye Finance IPO price band is Rs. 122 to Rs. 129 for each share.
| Events | Date |
| IPO Opening Date | February 09, 2026 |
| IPO Closing Date | February 11, 2026 |
| IPO Allotment Date | February 12, 2026 (Tentative) |
| Refund Initiation | February 13, 2026 (Tentative) |
| Tentative IPO Listing Date | February 16, 2026 |
Industry Outlook
If you want to apply for the IPO, click to open Demat Account.
Company Financial
(Amount in Cr)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 6,338.63 | 4,869.59 | 3,126.00 |
| Total Income | 1,504.99 | 1,071.75 | 643.34 |
| PAT | 175.25 | 171.68 | 39.87 |
| Net Worth | 1,658.87 | 1,232.65 | 754.49 |
| Reserves & Surplus | 1,621.08 | 1,192.72 | 724.04 |
| Total Borrowings | 4,526.33 | 3,498.99 | 2,296.16 |
Cash Flows
The cash flows for various activities are shown below:
(Amount in Mn)
| Net Cash Flow In Multiple Activities | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Net Cash Flow Operating Activities | (8,117.78) | (13,228.26) | (7,203.90) |
| Net Cash Flow Investing Activities | (386.04) | 830.44 | 782.11 |
| Net Cash Flow Financing Activities | 12,549.41 | 14,937.42 | 7,619.68 |
Revenue Bifurcation
(Source RHP)
Click to check the IPO application status.
Listed Peers of Aye Finance Ltd.
| Name of the Company | Face Value (₹ per share) | EPS (₹) | P/E (x) |
| SBFC Finance Limited | 10 | 3.21 | 27.32 |
| Five-Star Business Finance Limited | 1 | 36.61 | 12.07 |
Valuation
| KPI | Values |
| ROE | 12.12% |
| Debt / Equity | 2.73 |
| RoNW | 12.12% |
| Price to Book Value | - |
Evaluation of P/E Ratio
Considering the period ended on FY 2025, with an EPS of Rs. 9.51 from the last year, the resulting P/E ratio is 13.56x.
IPO's Strengths
- Leading provider of comprehensive product offerings and small-ticket loans to micro-scale MSMEs, with an emphasis on serving large and unaddressed TAM.
- Robust sourcing capabilities backed by a diverse pan-indian.
- High customer retention and presence.
- Efficient underwriting techniques.
- Strong capabilities for multi-tiered collection.
- Developing technological proficiency to build resilience.
IPO Weaknesses
- Risk of Credit Default.
- Dependency on Third-Party and Customer Data.
- Risk of Interest Rate Volatility.
Aye Finance IPO GMP Today
Aye Finance IPO GMP today is not available yet as of 10 Feb 2026.
Aye Finance Limited IPO Summary
| IPO Opening & Closing Date | Feb 09, 2026 to Feb 11, 2026 |
| Face Value | Rs. 2 per Share |
| Issue Price | Rs. 122 to Rs. 129 |
| Lot Size | 116 Shares |
| Issue Size | 7,82,94,572 Shares (Rs. 1010 Cr) |
| Listing At | BSE, NSE |
| Issue Type | Book Built Issue IPO |
| Registrar | Kfin Technologies Ltd. |
Aye Finance IPO Lot Size
The Aye Finance Ltd. IPO allows retail investors to invest in a minimum and maximum of 1 Lot (116 Shares) amounting to Rs. 14964 and 13 Lots (1508 Shares) amounting to Rs. 194532, respectively. For S-HNI investors, the minimum Lot is 14 (1624 Shares) amounting to Rs. 209496.
| Minimum Lot Investment (Retail) | 1 Lot |
| Maximum Lot Investment (Retail) | 13 Lots |
| SHNI (Minimum) | 14 Lots |
| SHNI (Maximum) | 66 Lots |
| BHNI (Minimum) | 67 Lots |
Aye Finance IPO Reservation
| Institutional Share Portion | 75% |
| Retail Investors' Share Portion | 10% |
| Non-Institutional Shares Portion | 15% |
Aye Finance IPO Allotment Status
To check the Aye Finance IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Aye Finance Ltd.
The Company does not have an identifiable promoter.
Aye Finance IPO Lead Managers
- Axis Capital Ltd.
- IIFL Capital Services Ltd.
- JM Financial Ltd.
- Nuvama Wealth Management Ltd.
Dividend Policy
The company doesn’t have any formal dividend policy as of the date of the RHP.
Conclusion
Investors can gain exposure to a rapidly expanding NBFC that targets underserved micro-MSMEs through the Aye Finance IPO, which is supported by robust asset growth and increasing profitability.
For long-term investors, the value seems balanced with a respectable FY25 P/E of about 13.5x when compared to listed peers. However, before applying for the IPO, elements including credit risk, leverage, and interest rate sensitivity should be thoroughly assessed.
Disclaimer: The information provided in this blog is for educational and informational purposes only and should not be considered as investment advice, research, or a recommendation to buy, sell, or hold any securities. Stock market investments are subject to market risks. Readers are advised to read all scheme-related documents carefully and consult their financial advisor before making any investment decisions.
