Aye Finance IPO: A Promising Start with 12% Subscription on Day One
Aye Finance's IPO gained 12% subscription on its first day, with retail investors showing 26% interest. The company aims to raise Rs 1,010 crore, with bids invited till February 11. Funds will aid in expanding its micro and small enterprises lending operations, with listing expected on February 16.
- Country:
- India
The initial public offering (IPO) of Aye Finance witnessed a modest start with a 12% subscription on its debut day. According to data from NSE, the non-banking financial company (NBFC) received bids for over 5.4 million shares against an offering of 45.5 million shares.
Retail individual investors (RIIs) showed stronger interest with a 26% subscription, while qualified institutional buyers (QIBs) accounted for 13%. However, non-institutional investors contributed minimally, subscribing to only 1% of their allocated shares.
Aiming to raise Rs 1,010 crore, the company has set a price band of Rs 122-129 per share, valuing it at Rs 3,184 crore at the higher end. The capital raised will support business expansion and bolster the company's capital base. The IPO will conclude on February 11, with Aye Finance expected to be listed on BSE and NSE on February 16.
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