Aye Finance IPO: Tepid Investor Response Amid Ambitious Expansion Plans
Aye Finance's IPO received a lukewarm response, with 16% subscription on the second day. The offering attracted bids for over 72 lakh shares against the 4.55 crore available. Retail investors subscribed 47%, while qualified institutional buyers and non-institutional investors subscribed 13% and 2% respectively. The IPO seeks to bolster Aye Finance's capital for business expansion.
- Country:
- India
The initial public offering of Aye Finance has not attracted strong investor interest, with only a 16% subscription rate on the second day. This comes after a modest 12% subscription on the first day.
According to data from the NSE, retail individual investors led with a 47% subscription, while the segment for qualified institutional buyers received 13% and non-institutional investors showed minimal interest with just 2%.
Despite these numbers, Aye Finance aims to use the funds raised to expand its business, asserting its role as a lender to micro and small enterprises. The IPO will close on February 11, with the company set to debut on the BSE and NSE on February 16.
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