Aye Finance Makes Flat Market Debut Amidst Positive Market Sentiment

Aye Finance, a notable non-banking financial company, began trading on the stock market Monday, listing at its issue price of Rs 129. Despite a flat start, shares subsequently dipped 3.17% to Rs 124.91 on the NSE.

The company's market debut coincided with a broadly positive day for the equity markets, as the 30-share BSE Sensex climbed by 165.32 points and the NSE Nifty rose by 57.25 points.

Last week, Aye Finance's IPO was fully subscribed with a price band set at Rs 122-129 per share. The company plans to use proceeds from the Rs 1,010-crore IPO to enhance its capital base, supporting future growth in serving micro and small enterprises, a segment underserved by traditional banks.