Aye Finance Limited is a non-banking financial company (NBFC) focused on providing secured and unsecured small business loans to micro-scale MSMEs across India. The company primarily caters to entrepreneurs who operate small businesses and require funding for working capital needs, business expansion, and asset creation, many of whom have limited access to formal banking credit.
Aye Finance offers business loans secured against working assets or property, serving customers engaged in manufacturing, trading, services, and allied agriculture sectors. The company’s lending model combines on-ground presence with technology-enabled credit assessment, enabling it to address the financing gap faced by informal and semi-formal micro enterprises.
As of September 30, 2025, Aye Finance served 586,825 active customers across 18 states and three union territories, supported by a geographically diversified portfolio and a growing assets under management (AUM) base.
The company offers a diversified range of MSME-focused loan products, including:
- Mortgage Loans
- ‘Saral’ Property Loans
- Secured Hypothecation Loans
- Unsecured Hypothecation Loans
Aye Finance had 10,459 full-time employees as of the six months ended September 30, 2025, up from 5,724 employees in FY2023.
Aye Finance IPO – Details
| IPO Opening Date | 09 February 2026 |
| IPO Closing Date | 11 February 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 7,82,94,572 Shares Worth ₹1010.00 Crore Fresh Issue: 5,50,38,759 Shares Worth ₹710.00 Crore Offer For Sale: 2,32,55,813 Shares Worth ₹300.00 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹122 – ₹129 per share |
| Market Lot | 116 Shares |
| Min Order | 116 Shares [ 1 lot ] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Aye Finance IPO – Date Schedule
| IPO Open Date | 09 February 2026 |
| IPO Close Date | 11 February 2026 |
| Basis of Allotment | 12 February 2026 |
| Initiation of Refund | 13 February 2026 |
| Credit of Shares to Demat Account | 13 February 2026 |
| IPO Listing Date | 16 February 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 11, 2026 |
Aye Finance IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 116 | ₹14,964 |
| Retail (Max) | 13 | 1,508 | ₹1,94,532 |
| S-HNI (Min) | 14 | 1,624 | ₹2,09,496 |
| S-HNI (Max) | 66 | 7,656 | ₹9,87,624 |
| B-HNI (Min) | 67 | 7,772 | ₹10,02,588 |
Competitive Strength
- Leading Lender of Small-Ticket Loans to Micro Scale MSMEs with Comprehensive Product Offerings and Focus on Serving Large and Unaddressed TAM.
- Strong Sourcing Capabilities Supported by a Diversified Pan-India Presence and High Customer Retention.
- Effective Underwriting Methodology.
- Robust Multi-Tiered Collection Capabilities.
- Building Resilience through Technological Prowess.
- Access to Diversified Lender Base and Cost-Effective Financing.
- Experienced and Professional Management Team backed by Marquee Investors with a Committed Employee Base.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹643.34 Cr | ₹571.94 Cr | ₹39.87 Cr | ₹2,296.16 Cr |
| 31 March 2024 | ₹1,071.75 Cr | ₹843.89 Cr | ₹171.68 Cr | ₹3,498.99 Cr |
| 31 March 2025 | ₹1,504.99 Cr | ₹1,279.98 Cr | ₹175.25 Cr | ₹4,526.33 Cr |
| 30 September 2025 | ₹863.02 Cr | ₹780.44 Cr | ₹64.60 Cr | ₹5,218.50 Cr |
Key Performance Indicator
| KPI | Values (Sep 30, 2025) |
|---|---|
| ROE | 7.63% |
| Debt/Equity | 3.02 |
| RoNW | 3.82% |
| Price to Book Value | 1.45 |
| Pre IPO | Post IPO | |
| EPS (₹) | 9.14 | 5.24 |
| P/E (x) | 14.11 | 24.64 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Augmenting the capital base to meet the company’s future capital requirements arising from the growth of its business and asset portfolio. | – |
Aye Finance IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | SBFC Finance Limited | 27.32 |
| 2 | 1 | Five-Star Business Finance Limited | 12.07 |
✅Strengths
- Focus on underserved micro-MSMEs, a large underpenetrated credit segment.
- Diversified loan products (secured & unsecured, mortgage, Saral property loans).
- Wide geographic presence across 18 states & 3 UTs with low state concentration.
- Technology-led underwriting using analytics and risk-based pricing.
- Improving scale and efficiency with rising productivity metrics.
⚠️Risks
- Higher credit risk due to lending to informal micro-enterprises.
- High operating costs from branch-based, high-touch model.
- Concentration in MSME lending exposes business to sector stress.
- Asset quality volatility during economic slowdowns.
- Regulatory risk applicable to NBFCs under RBI norms.
Aye Finance IPO Prospectus
Company Contact Information
| Aye Finance Ltd. M-5, Magnum House-I, Community Centre, Karampura, New Delhi, New Delhi, 110015 Phone: +91 124 484 4000 Email: secretarial@ayefin.com Website: https://www.ayefin.com/ |
Aye Finance IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: ayefinance.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Aye Finance IPO Lead Manager(s)
| 1. JM Financial Limited 2. Axis Capital Limited 3. IIFL Capital Services Limited 4. Nuvama Wealth Management Limited |
Aye Finance IPO FAQs
| What is Aye Finance IPO? Aye Finance IPO is a main-board IPO. The issue is priced at ₹122 to ₹129 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Aye Finance IPO open? The IPO is to open on 09 February 2026 for QIB, NII, and Retail Investors. |
| What is Aye Finance IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is Aye Finance IPO Size? Aye Finance IPO size is ₹1010.00 Crore. |
| What is the Aye Finance IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 116 Shares with ₹14,964, while the maximum bid is 1508 Shares with ₹1,94,532. |
| What is the Aye Finance IPO Allotment Date? Aye Finance IPO allotment date is 12 February 2026. |
| What is the Aye Finance IPO Listing Date? Aye Finance IPO listing date is 16 February 2026. The IPO is to be listed on the BSE and the NSE. |
