| Event | Date |
|---|---|
| Open Date | 09-02-2026 , Monday |
| Close Date | 11-02-2026 , Wednesday |
| Tentative Allotment | 12-02-2026 , Thursday |
| Tentative Listing Date | 16-02-2026 , Monday |
| Retail Appl. Cut Off Time | 11-02-2026 , Wednesday 05:00 PM |
| Non Retail Appl. Cut Off Time | 11-02-2026 , Wednesday 04:00 PM |
| Anchor Allotment | 06-02-2026 , Friday |
| Initiation Of Refund | 13-02-2026 , Friday |
| Credit Of Share To Demat | 13-02-2026 , Friday |
Aye Finance Limited is a non-banking financial company focused on lending to micro-scale MSMEs across India. The company provides small-ticket business loans for working capital, business expansion, machinery purchase and other enterprise needs. Its lending model is built around understanding business clusters, alternative credit assessment and in-house collections.
Aye Finance Limited is an NBFC-ML focused on providing business loans to micro, small and medium enterprises, especially micro-scale MSMEs that are often underserved by traditional banks and larger lenders. Its loans are used for working capital, business expansion, machinery, stock purchase, renovation, seasonal business requirements and other enterprise-related needs.
The company focuses on micro enterprises operating in manufacturing, trading, services and allied agriculture sectors. These customers may not always have complete formal financial records, strong collateral documents or long banking history. Aye Finance attempts to address this gap through cluster-based credit assessment and alternative data collection.
As of September 30, 2025, the company had a presence across 415 districts, 18 states and 3 union territories through 568 branches. Its AUM is spread across North, South, East and West zones, with no single state accounting for more than 15.77% of total AUM.
| Product Offering | Type of Collateral | Ticket Size | Tenor | Interest Rate |
|---|---|---|---|---|
| Mortgage Loans | Fully secured against property collateral and hypothecation of working assets, finished goods and machinery | Rs. 0.10 million to Rs. 1.50 million | 48 months to 180 months | Up to 26% PA |
| Saral Property Loans | Fully secured against property collateral and hypothecation of working assets, finished goods and machinery | Rs. 0.05 million to Rs. 0.60 million | 36 months to 60 months | Up to 28% PA |
| Secured Hypothecation Loans | Fully secured against hypothecation of working assets, finished goods and machinery | Rs. 0.05 million to Rs. 0.40 million | 6 months to 42 months | Up to 32% PA |
| Unsecured Hypothecation Loans | Partly secured against hypothecation of working assets, finished goods and machinery | Rs. 0.05 million to Rs. 0.40 million | 6 months to 42 months | Up to 32% PA |
The product mix shows that Aye Finance serves small business borrowers with relatively small ticket sizes. The lending model is not focused on large corporate loans. It is more focused on micro-enterprise cash flow, local business understanding and repeat borrowing behaviour.
| Product | AUM as of Sep 30, 2025 | % of Total AUM | AUM as of Mar 31, 2025 | % of Total AUM |
|---|---|---|---|---|
| Mortgage Loans | Rs. 11,620.40 million | 19.28% | Rs. 8,143.67 million | 14.72% |
| Saral Property Loans | Rs. 1,047.76 million | 1.74% | Rs. 1,096.10 million | 1.98% |
| Secured Hypothecation Loans | Rs. 24,719.26 million | 41.01% | Rs. 24,138.20 million | 43.62% |
| Unsecured Hypothecation Loans | Rs. 22,888.80 million | 37.97% | Rs. 21,961.00 million | 39.68% |
| Total | Rs. 60,276.22 million | 100.00% | Rs. 55,338.96 million | 100.00% |
The largest AUM share is from secured and unsecured hypothecation loans. This indicates that the company is heavily exposed to business cash-flow lending backed fully or partly by movable assets.
| Particulars | Sep 30, 2025 | Sep 30, 2024 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|---|
| Number of Unique Customers | 586,825 | 508,224 | 554,699 | 454,586 | 305,524 |
| Repeat Retention Rate | 41.16% | 49.03% | 49.54% | 49.59% | 41.18% |
| AUM | Rs. 60,276.22 million | Rs. 49,797.64 million | Rs. 55,338.96 million | Rs. 44,632.91 million | Rs. 27,215.51 million |
| Gross Disbursements | Rs. 23,167.95 million | Rs. 20,141.46 million | Rs. 42,913.39 million | Rs. 39,389.34 million | Rs. 23,570.93 million |
| Number of Branches | 568 | 499 | 526 | 478 | 398 |
| Number of Employees | 10,459 | 8,388 | 9,102 | 6,825 | 5,724 |
| Net Interest Income | Rs. 4,749.66 million | Rs. 4,109.84 million | Rs. 8,579.62 million | Rs. 6,221.55 million | Rs. 3,685.25 million |
| Net Interest Margin | 14.12% | 15.38% | 15.31% | 15.56% | 13.54% |
| Profit After Tax | Rs. 645.97 million | Rs. 1,078.00 million | Rs. 1,752.52 million | Rs. 1,716.79 million | Rs. 398.73 million |
| Particulars | Sep 30, 2025 | Sep 30, 2024 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|---|
| Gross NPA Ratio | 4.85% | 3.32% | 4.21% | 3.19% | 2.49% |
| Net NPA Ratio | 1.78% | 1.15% | 1.40% | 0.91% | 1.28% |
| Provision Coverage Ratio | 64.47% | 66.07% | 67.56% | 72.14% | 49.82% |
| Capital Adequacy Ratio | 32.27% | 37.61% | 34.92% | 32.79% | 31.07% |
| Debt to Equity Ratio | 3.02 | 2.56 | 2.73 | 2.84 | 3.04 |
Aye Finance has scaled AUM and customer base, but investors should carefully track asset quality. GNPA increased to 4.85% as of September 30, 2025 compared with 3.32% as of September 30, 2024. For an MSME lender, credit cost, collection efficiency, GNPA trend, NNPA trend and provision coverage are very important indicators because the borrower segment can be sensitive to economic cycles, cash-flow disruption and local business stress.
| State / Group | AUM as of Sep 30, 2025 | % of Total AUM |
|---|---|---|
| Top 5 States | Rs. 34,355.46 million | 57.00% |
| Bihar | Rs. 9,505.26 million | 15.77% |
| Uttar Pradesh | Rs. 9,009.31 million | 14.95% |
| Rajasthan | Rs. 7,198.59 million | 11.94% |
| Madhya Pradesh | Rs. 4,603.53 million | 7.64% |
| Maharashtra | Rs. 4,038.77 million | 6.70% |
| Top 10 States | Rs. 49,758.65 million | 82.55% |
| Other States / Union Territories | Rs. 10,517.57 million | 17.45% |
| Total AUM | Rs. 60,276.22 million | 100.00% |
The company has meaningful diversification across states. However, the top 10 states still contribute 82.55% of total AUM, so regional economic conditions and state-level collection performance remain important to monitor.
A mini branch generally has one assistant branch manager, four to six loan advisors and one branch credit officer. Its catchment area radius is up to 20 kilometers. This format helps the company reach smaller business clusters with controlled operating cost.
A regular branch generally has one branch manager, at least six loan advisors, two branch credit officers and one operations personnel. Its catchment area radius is up to 50 kilometers. This model supports deeper market coverage and higher lending activity.
Aye Finance uses a cluster-based approach to understand businesses operating in similar segments and locations. The company collects business-level information and alternative data to assess borrower repayment ability. This approach is useful where traditional banking documents may be limited or incomplete.
The company’s collection strategy includes tele-calling units, field collection teams and legal and recovery teams. Collection efficiency was 89.72% as of September 30, 2025, while PAR 30+ was 6.77%. For a lender in this segment, collections are a key operating strength as well as a key risk area.
Aye Finance had a credit rating of A with a stable outlook from India Ratings and ICRA for certain instruments. It also had CARE Edge Global ratings for external commercial borrowings. Credit ratings are important for NBFCs because they influence borrowing access and borrowing cost.
Aye Finance operates in a large underserved MSME lending market. The company’s core strength is its ability to lend to micro enterprises using cluster knowledge, branch-level presence, alternative data and a repeat-customer approach. The business has scale, a large customer base, and a diversified geographical footprint.
AUM increased from Rs. 27,215.51 million as of March 31, 2023 to Rs. 55,338.96 million as of March 31, 2025, and further to Rs. 60,276.22 million as of September 30, 2025. This shows strong portfolio growth. However, faster lending growth should always be compared with asset quality trends and provisioning levels.
The company generated net interest income of Rs. 8,579.62 million in FY 2025 and Rs. 4,749.66 million for the six months ended September 30, 2025. Net interest margin remains high, which is common in small-ticket MSME lending. However, profitability depends on credit cost, operating cost, borrowing cost and collection efficiency.
The key risks are borrower credit risk, rising GNPA, collection pressure, high operating intensity of branch-based lending, cost of funds, regulatory changes for NBFCs, and sensitivity of micro-enterprises to economic slowdown. The increase in GNPA to 4.85% as of September 30, 2025 should be watched carefully.
Aye Finance is not a manufacturing or trading company. It is a lending business. For lending companies, retail investors should focus on AUM growth, GNPA, NNPA, credit cost, provision coverage, capital adequacy, cost of borrowing, collection efficiency, repeat customer behaviour and branch productivity. Revenue growth alone is not enough because loan quality decides long-term sustainability.
The company has a large active customer base, wide branch network, diversified state-wise exposure, high capital adequacy and a focused MSME lending model. It has built underwriting knowledge around micro-enterprise clusters, which may help in assessing customers who are not fully covered by traditional banking systems.
The lending segment carries credit risk. GNPA and NNPA have increased compared with earlier periods. In micro-enterprise lending, repayment ability can be affected by local business cycles, weather, inflation, borrower cash-flow disruption, business shutdowns and collection inefficiency. Retail investors should compare IPO valuation with asset quality, profitability and peer NBFC metrics.
Important items to track include the latest GNPA and NNPA trend, write-offs, provisioning policy, cost of funds, borrowing profile, capital adequacy after IPO, AUM growth quality, branch expansion strategy, repeat loan behaviour, and whether growth is coming with stable or deteriorating collection efficiency.
The company serves micro MSMEs, a segment where credit demand is high and formal lending penetration remains limited.
Presence across 18 states and 3 union territories reduces dependence on a single state or region.
The company uses business-cluster knowledge and alternative data to evaluate borrowers with limited formal records.
Capital Adequacy Ratio stood at 32.27% as of September 30, 2025, which is above the regulatory minimum requirement.
MSME borrowers may face irregular cash flows, which can affect repayment behaviour and asset quality.
GNPA stood at 4.85% as of September 30, 2025, higher than 3.32% as of September 30, 2024.
The business requires strong collection infrastructure. Weak collection efficiency can directly affect profitability.
NBFCs depend on borrowings. Higher borrowing costs or tighter liquidity can impact margins and growth.
This content is prepared only for educational and informational purposes based on the IPO-related details provided. IPORupee does not provide any buy, sell, apply or avoid recommendation. Investors should read the Red Herring Prospectus, risk factors, financial statements, valuation details, asset quality data, and consult their financial advisor before making any investment decision. IPO investments are subject to market risk, business risk, credit risk and listing risk.
| Category | Percentage | No. of Shares Offered | Amount |
|---|---|---|---|
QIB | 75.00 % | 5,87,20,930 | 757.50 Cr |
Retail | 10.00 % | 78,29,457 | 101.00 Cr |
Total HNI | 15.00 % | 1,17,44,186 | 151.50 Cr |
SHNI | 5.00 % | 39,14,729 | 50.50 Cr |
BHNI | 10.00 % | 78,29,457 | 101.00 Cr |
Aye Finance Ltd allotted 3,52,32,558 equity shares to anchor investors at ₹129 per share on 06 Feb 2026 before the IPO opening. The total anchor allocation stood at 454.50 Cr across 19 anchor investors.
Mutual funds received 76,74,560 shares worth 99.00 Cr, representing 21.78% of the total anchor investor allocation. Within the mutual fund portion, Nippon India Mutual Fund had the highest fund-house level allocation with 57,36,548 shares worth 74.00 Cr across 1 scheme. Other leading fund houses by allocation included Bank of India Mutual Fund.
At scheme level, the largest mutual fund allocations included NIPPON LIFE INDIA TRUSTEE LTD- A/C NIPPON INDIA BANKING & FINANCIAL SERVICES FUND, BANK OF INDIA SMALL CAP FUND, BANK OF INDIA MID & SMALL CAP EQUITY & DEBT FUND and BANK OF INDIA BANKING & FINANCIAL SERVICES FUND.
The largest anchor investor received 100.00% of the anchor portion. The top five anchor investors together received 1,92,40,957 shares, representing about 54.61% of the total anchor allocation.
| Rank | Anchor Investor Name | Shares Allocated | Allocation % | Allocation Amount |
|---|---|---|---|---|
| 1 | NIPPON LIFE INDIA TRUSTEE LTD- A/C NIPPON INDIA BANKING & FINANCIAL SERVICES FUND | 57,36,548 | 100.00 % | 74.00 Cr |
| 2 | GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO | 53,48,876 | 100.00 % | 69.00 Cr |
| 3 | ASHOKA INDIA EQUITY INVESTMENT TRUST PLC | 31,00,796 | 100.00 % | 40.00 Cr |
| 4 | ABAKKUS FOUR2EIGHT OPPORTUNITIES FUND | 27,13,240 | 100.00 % | 35.00 Cr |
| 5 | BAY POND PARTNERS, L.P. | 23,41,497 | 100.00 % | 30.21 Cr |
| Rank | Mutual Fund Scheme | AMC | Shares Allocated | Allocation % | Allocation Amount |
|---|---|---|---|---|---|
| 1 | NIPPON LIFE INDIA TRUSTEE LTD- A/C NIPPON INDIA BANKING & FINANCIAL SERVICES FUND | Nippon India Mutual Fund | 57,36,548 | 100.00 % | 74.00 Cr |
| 2 | BANK OF INDIA SMALL CAP FUND | Bank of India Mutual Fund | 11,62,784 | 100.00 % | 15.00 Cr |
| 3 | BANK OF INDIA MID & SMALL CAP EQUITY & DEBT FUND | Bank of India Mutual Fund | 5,62,136 | 100.00 % | 7.25 Cr |
| 4 | BANK OF INDIA BANKING & FINANCIAL SERVICES FUND | Bank of India Mutual Fund | 2,13,092 | 100.00 % | 2.75 Cr |
The figures are based on the company’s stock exchange anchor allotment intimation. Anchor allocation is only an informational disclosure and does not indicate future listing performance.
| Application | Discount | Qty (Lot) | Total |
|---|---|---|---|
Retail MIN | - | 116 (1) | ₹ 14,964 |
Retail MAX | - | 1508 (13) | ₹ 1,94,532 |
SHNI MIN | - | 1624 (14) | ₹ 2,09,496 |
SHNI MAX | - | 7656 (66) | ₹ 9,87,624 |
BHNI MIN | - | 7772 (67) | ₹ 10,02,588 |
| Particulars | Sept 30, 2025 | Sept 30, 2024 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|---|
Interest income | 733.83 | 640.24 | 1,325.96 | 948.69 | 566.49 |
Fees and commission income | 32.69 | 25.00 | 54.42 | 47.86 | 25.48 |
Net gain on derecognition of financial instruments under amortised cost category | 29.32 | 1.70 | 37.59 | 18.95 | 12.51 |
Net gain on fair value changes | 47.67 | 25.30 | 41.76 | 24.72 | 18.95 |
Total revenue from operations | 843.51 | 692.24 | 1,459.73 | 1,040.22 | 623.43 |
Other income | 19.51 | 24.81 | 45.26 | 31.53 | 19.91 |
Total income | 863.02 | 717.05 | 1,504.99 | 1,071.75 | 643.34 |
Finance cost | 258.86 | 229.26 | 468.00 | 326.53 | 197.96 |
Net loss on fair value changes | 30.75 | 6.26 | 3.62 | 6.18 | 6.57 |
Impairment on financial instruments | 172.93 | 101.39 | 288.83 | 131.40 | 73.35 |
Employee benefit expenses | 236.57 | 173.91 | 379.64 | 275.21 | 212.20 |
Depreciation and amortization expense | 11.34 | 9.76 | 22.16 | 14.54 | 11.45 |
Other expenses | 69.99 | 52.36 | 117.73 | 90.03 | 70.41 |
Total expenses | 780.44 | 572.94 | 1,279.98 | 843.89 | 571.94 |
Profit / (Loss) before tax | 82.58 | 144.11 | 225.01 | 227.86 | 71.40 |
Income tax expense | 17.98 | 36.31 | 49.76 | 56.18 | 31.52 |
Profit / (Loss) for the period | 64.60 | 107.80 | 175.25 | 171.68 | 39.87 |
Basic EPS | 3.37 | 6.09 | 9.51 | 10.62 | 2.57 |
Diluted EPS | 3.32 | 5.97 | 9.34 | 10.50 | 2.54 |
| Particulars | Sept 30, 2025 | Sept 30, 2024 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|---|
Cash and cash equivalents | 1,145.12 | 926.15 | 931.16 | 526.59 | 272.63 |
Bank balances other than cash and cash equivalents | 227.80 | 190.79 | 206.73 | 203.67 | 121.42 |
Derivative financial instruments | 31.65 | 2.42 | 0.24 | - | 3.07 |
Loans | 5,382.33 | 4,516.23 | 4,950.21 | 4,003.12 | 2,555.44 |
Investments | 66.60 | 22.76 | 41.76 | 10.61 | 84.46 |
Other financial assets | 82.48 | 31.88 | 60.61 | 30.66 | 22.81 |
Total financial assets | 6,935.98 | 5,690.23 | 6,190.71 | 4,774.65 | 3,059.83 |
Current tax assets (net) | 28.11 | 20.98 | 18.41 | 8.28 | 4.07 |
Deferred tax assets (net) | 58.21 | 52.49 | 60.98 | 43.94 | 29.34 |
Property, plant and equipment | 15.58 | 12.75 | 12.10 | 8.96 | 5.47 |
Right of use assets | 38.37 | 26.29 | 26.27 | 21.43 | 21.15 |
Intangible assets under development | 4.15 | 2.38 | 4.13 | 2.95 | 0.47 |
Intangible assets | 2.34 | 3.46 | 2.25 | 1.32 | 0.55 |
Other non-financial assets | 33.27 | 10.47 | 23.78 | 8.07 | 5.13 |
Total non-financial asset | 180.03 | 128.82 | 147.92 | 94.95 | 66.17 |
Total assets | 7,116.01 | 5,819.05 | 6,338.63 | 4,869.59 | 3,126.00 |
Derivative financial instruments | - | - | - | 3.15 | - |
Debt securities | 1,510.93 | 1,387.31 | 1,418.13 | 1,022.34 | 899.85 |
Borrowings (other than debt securities) | 3,707.57 | 2,695.79 | 3,108.20 | 2,476.65 | 1,396.31 |
Lease liabilities | 40.24 | 28.55 | 28.41 | 23.63 | 24.29 |
Other financial liabilities | 49.21 | 51.72 | 48.13 | 55.42 | 16.07 |
Total financial liabilities | 5,307.95 | 4,163.37 | 4,602.87 | 3,581.20 | 2,336.52 |
Current tax liabilities (net) | 4.60 | 10.53 | 4.58 | - | - |
Provisions | 49.24 | 33.34 | 43.33 | 30.29 | 22.67 |
Other non-financial liabilities | 26.85 | 18.64 | 28.98 | 25.46 | 12.32 |
Total non-financial liabilities | 80.69 | 62.51 | 76.89 | 55.75 | 34.99 |
Equity share capital | 37.79 | 37.79 | 37.79 | 39.93 | 30.45 |
Other equity | 1,689.58 | 1,555.39 | 1,621.08 | 1,192.72 | 724.04 |
Total equity | 1,727.37 | 1,593.17 | 1,658.87 | 1,232.65 | 754.49 |
Total liabilities and equity | 7,116.01 | 5,819.05 | 6,338.63 | 4,869.59 | 3,126.00 |
| Particulars | Sept 30, 2025 | Sept 30, 2024 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|---|
Cash Flow From Operating Activities | -454.876 | -418.845 | -811.778 | -1,322.826 | -720.39 |
Cash Flow From Investing Activities | -14.763 | -2.67 | -38.604 | 83.044 | 78.211 |
Cash Flow From Financing Activities | 683.599 | 821.08 | 1,254.941 | 1,493.742 | 761.968 |
Net Cash Flow | 213.96 | 399.565 | 404.559 | 253.96 | 119.789 |
| Particulars | Aye Finance IPO | SBFC Finance Limited | Five-Star Business Finance Limited |
|---|---|---|---|
Face value (₹ per equity share) | 2.00 | 10.00 | 1.00 |
Closin g price as on Febru ary 2, 2026 (₹per equity share | - | 86.07 | 440.45 |
Revenue from operations for Financial Year 2025 | 1,459.73 | 1,306.16 | 2,847.84 |
Basic EPS Financial Year 2025 (₹) | 9.51 | 3.21 | 36.61 |
Diluted EPS Financial Year 2025 (₹) | 9.34 | 3.15 | 36.50 |
Basic Net asset value as at March 31, 2025 (₹ per equity share) | 90.00 | 29.61 | 215.22 |
Diluted Net asset value as at March 31, 2025 (₹ per equity share) | 88.38 | 29.10 | 214.58 |
PE ratio for the Financial Year 2025 | - | 27.32 | 12.07 |
Return on net worth for the Financial Year 2025 (%) | 12.12 | 11.57 | 18.65 |
Market capitalisation | - | 9,347.00 | 12,968.00 |
| KPI | 6 Month Ended on Sept 30, 2025 | 6 Month Ended on Sept 30, 2024 | Fiscal Mar 31, 2025 | Fiscal Mar 31, 2024 | Fiscal Mar 31, 2023 |
|---|---|---|---|---|---|
Total Interest Income | 733.83 | 640.24 | 1,325.96 | 948.69 | 566.49 |
Total Income | 863.02 | 717.05 | 1,504.99 | 1,071.75 | 643.34 |
Finance Cost | 258.86 | 229.26 | 468.00 | 326.53 | 197.96 |
Net Interest Income (NII) | 474.97 | 410.98 | 857.96 | 622.16 | 368.53 |
Operating Expense | 317.90 | 236.03 | 519.53 | 379.78 | 294.06 |
Profit After Tax | 64.60 | 107.80 | 175.25 | 171.68 | 39.87 |
Profit After Tax (PAT) (in %)) | 0.76 | 1.53 | 1.21 | 1.73 | 0.55 |
Return On Equity (RoE) (in %)) | 2.79 | 2.96 | 2.91 | 2.84 | 2.62 |
Net Interest Margin (NIM) (in %) | 1.41 | 1.54 | 1.53 | 1.56 | 1.35 |
| Objective | No Of Shares | Amount |
|---|---|---|
Fresh Issue | - | 710.00 Cr |
Offer for Sale | - | 300.00 Cr |
| Name | Contact Person | Telephone | Website | |
|---|---|---|---|---|
Axis Capital Limited | Tosit Agarwal | +91 22 4325 2183 | ayefinance.ipo@axiscap.in | www.axiscapital.co.in |
IIFL Capital Services Limited (formerly known as IIFL Securities Limited) | Dhruv Bhavsar/ Pawan Kumar Jain | +91 22 4646 4728 | ayefinance.ipo@iiflcap.com | www.iiflcapital.com |
JM Financial Limited | Prachee Dhuri | +91 22 6630 3030 | ayefinance.ipo@jmfl.com | www.jmfl.com |
Nuvama Wealth Management Limited | Lokesh Shah | + 91 22 4009 4400 | ayefinance@nuvama.com | www.nuvama.com |
Understand company details, IPO size, price band, lot size, exchange listing, fresh issue and Offer for Sale (OFS) in simple language for retail investors.
This IPO is of Aye Finance Ltd. The issue is scheduled to open on Monday, 09 February 2026 and closes on Wednesday, 11 February 2026.
After the IPO process is completed, the shares are proposed to be listed on both NSE and BSE.
IPO size means the total amount offered to investors through the public issue.
For Aye Finance Ltd IPO, the total issue size is Rs 1,010 crore, consisting of a fresh issue of Rs 710 crore and an Offer for Sale (OFS) of Rs 300 crore.
Price band is the price range within which investors can bid for shares in a book-built IPO.
For this IPO, the lower price band is Rs 122 per share and the upper price band is Rs 129 per share.
Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.
For Aye Finance Ltd IPO, the minimum lot size is 116 shares. At the upper price band of Rs 129 per share, the minimum application amount is Rs 14,964. Applications must be made in multiples of 116 shares.
Fresh Issue means the company issues new shares to investors and receives money from that part of the IPO.
For Aye Finance Ltd IPO, the Fresh Issue size is Rs 710 crore. The company can use these funds for purposes mentioned in the IPO documents, such as business growth, repayment of borrowings, working capital, capital expenditure, or general corporate purposes.
Offer for Sale (OFS) means existing shareholders sell their shares to the public through the IPO.
For Aye Finance Ltd IPO, the Offer for Sale (OFS) size is Rs 300 crore. In an OFS, the selling shareholders receive the money, and the company usually does not receive funds from that portion.
Understand the important IPO dates, allotment process, refund schedule and listing timeline in a retail-friendly format.
The IPO opening date is the first day on which investors can apply for the public issue.
For Aye Finance Ltd IPO, the IPO opens on Monday, 09 February 2026.
The IPO closing date is the last day on which investors can submit, modify, or cancel their IPO applications.
Aye Finance Ltd IPO closes on Wednesday, 11 February 2026.
The tentative allotment date is the expected date on which the registrar finalizes the share allotment for valid IPO applications.
For Aye Finance Ltd IPO, the tentative allotment date is Thursday, 12 February 2026.
The tentative listing date is the expected date on which IPO shares begin trading on the stock exchanges.
Aye Finance Ltd IPO is expected to list on Monday, 16 February 2026.
After allotment, funds are unblocked or refunds are initiated for non-allotted investors, while allotted shares are credited to investors' demat accounts before listing.
For Aye Finance Ltd IPO, refund initiation is expected on Friday, 13 February 2026, and credit of shares to demat accounts is expected on Friday, 13 February 2026.
Understand IPO category-wise reservation, QIB quota, retail quota, HNI allocation, shareholder reservation and the meaning of structure columns in a simple format.
IPO structure shows how shares are divided among different categories of investors, such as QIB, Retail, NII/HNI, Employees, and Shareholders.
For Aye Finance Ltd IPO, the available categories in the structure table include QIB, Retail, Non-Institutional Investors (NII/HNI). The NII/HNI category includes SHNI and BHNI sub-categories. Investors can use this table to understand category-wise allocation before applying.
QIB stands for Qualified Institutional Buyers. This category includes mutual funds, banks, insurance companies, and other large financial institutions.
In Aye Finance Ltd IPO, 75% shares are reserved under the QIB category, with 5,87,20,930 shares offered, and an allocation amount of ₹757.50 crore.
The Retail category is reserved for individual investors and HUFs applying for up to Rs 2 lakh within the retail investment limit allowed under IPO rules.
In Aye Finance Ltd IPO, 10% shares are reserved under the Retail category, with 78,29,457 shares offered, and an allocation amount of ₹101.00 crore.
NII/HNI stands for Non-Institutional Investors / High Net-Worth Individuals. This category generally includes investors applying for more than Rs 2 lakh, above the retail investment limit.
In Aye Finance Ltd IPO, 15% shares are reserved under the NII/HNI category, with 1,17,44,186 shares offered, and an allocation amount of ₹151.50 crore.
SHNI stands for Small HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 2 lakh but not exceeding Rs 10 lakh.
In Aye Finance Ltd IPO, 5% shares are reserved under the SHNI sub-category, with 39,14,729 shares offered, and an allocation amount of ₹50.50 crore.
BHNI stands for Big HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 10 lakh.
In Aye Finance Ltd IPO, 10% shares are reserved under the BHNI sub-category, with 78,29,457 shares offered, and an allocation amount of ₹101.00 crore.
Understand retail lot size, HNI application limits, employee category, shareholder category and investment amount calculations using the IPO lot table.
Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.
For Aye Finance Ltd IPO, the minimum lot size is 116 shares. At the upper price band of Rs 129 per share, the minimum application amount is Rs 14,964. Applications must be made in multiples of 116 shares.
Retail minimum application shows the minimum application size for retail investors.
For Aye Finance Ltd IPO, the Retail minimum application is 116 shares (1 lot) for about Rs 14,964.
Retail maximum application shows the maximum application size generally available under the retail category.
For Aye Finance Ltd IPO, the Retail maximum application is 1,508 shares (13 lots) for about Rs 1,94,532.
SHNI minimum application shows the minimum application size for the Small HNI category.
For Aye Finance Ltd IPO, the SHNI minimum application is 1,624 shares (14 lots) for about Rs 2,09,496.
SHNI maximum application shows the maximum application size available under the Small HNI category, when provided.
For Aye Finance Ltd IPO, the SHNI maximum application is 7,656 shares (66 lots) for about Rs 9,87,624.
BHNI minimum application shows the minimum application size for the Big HNI category.
For Aye Finance Ltd IPO, the BHNI minimum application is 7,772 shares (67 lots) for about Rs 10,02,588.
Understand important financial figures in simple language using the financial statement data available for the IPO.
Financial Highlights show important numbers from the company's financial statements. These may include income, expenses, profit, assets, liabilities, cash flow and other financial information, depending on the data available for the IPO.
The table displays available financial data based on the IPO information currently available. Fields may differ from company to company depending on disclosures and reporting format.
Investors should read the table to understand the company's financial performance and financial position over different periods.
The table may help users review income, expenses, profitability, balance sheet position, cash movement or other financial information, depending on the available data.
Financial statement line items may differ because companies operate in different industries and may follow different reporting formats.
Some companies may provide detailed financial breakup, while others may present broader financial categories.
Investors should review income, expenses, profitability, debt position, asset base, liabilities and cash flow position together.
A single financial figure should not be used alone to judge the company.
Profit is important, but it does not show the full financial picture.
Investors should also review revenue quality, expenses, debt, assets, liabilities, cash flow, valuation and business risks.
Cash flow helps investors understand how money moves in and out of the business.
A company may report profit but still face cash flow pressure, so cash flow should be reviewed along with profit, debt and balance sheet information.
No. Financial Highlights are useful, but investors should also review valuation, peer comparison, KPI data, business risks, IPO pricing, management discussion and official offer documents such as the RHP or DRHP.
Understand how the company may be compared with similar businesses using the peer comparison data available for the IPO.
Peer Comparison means comparing the IPO company with businesses operating in a similar sector or industry.
It helps investors understand the company in a broader industry context.
Peer Comparison helps investors understand how the company can be compared with similar businesses using available financial or valuation metrics.
It is useful for context, but it should not be treated as a final investment conclusion.
Peer comparison metrics may differ depending on the companies selected, accounting format, business model and available public information.
Investors should compare only relevant and similar metrics.
Investors should use the peer comparison table as a reference point.
Available metrics should be read together with business model, scale, profitability, margins, debt, growth, valuation and IPO pricing.
No. Peer Comparison does not directly decide whether an IPO is good or bad.
It only provides context for comparison. Final analysis should include financial statements, KPI data, valuation, risk factors and official offer documents.
No. Peer Comparison is only one part of IPO analysis.
Investors should also review financial statements, KPI data, business risks, valuation, IPO pricing and company fundamentals.
Understand important KPI metrics in simple language using the key performance indicator data available for the IPO.
Key Performance Indicators, or KPIs, are financial and valuation metrics used to understand profitability, efficiency, leverage, return-based ratios and earnings performance.
They help investors understand the company beyond basic financial figures.
KPIs help investors assess profitability, capital efficiency, leverage, valuation and earnings quality.
They should be reviewed together with financial statements, peer comparison and IPO pricing.
KPI data may differ depending on the company, industry, financial disclosures and available offer document information.
Not every IPO may provide every KPI, and some metrics may not be applicable to every business.
Investors should read KPI metrics together instead of relying on one ratio.
A single KPI may not give the full picture unless it is reviewed with financial statements, peer comparison, business model and valuation.
No. High or low KPI values need context.
The meaning of a ratio may differ depending on industry, business model, debt level, growth stage, profitability and IPO valuation.
No. KPI data is useful, but it should not be used alone.
Investors should also review financial statements, peer comparison, business risks, valuation, IPO pricing and official offer documents such as the RHP or DRHP.