Aye Finance is launching a mainboard IPO through the book-building, with equity shares carrying a face value of ₹2 each. Bidding opens on 9 February 2026 and closes on 11 February 2026, with allotment expected on 12 February 2026 and listing planned for 16 February 2026 on BSE and NSE.
The issue is priced in a band of ₹122–₹129 for a share and applications must be made in lots of 116 shares. A retail application starts at ₹14,964 at the cut-off price, while small HNI starts from 14 lots (1,624 shares) or ₹2,09,496, and big HNI starts from 67 lots (7,772 shares) or ₹10,02,588.
Aye Finance IPO Details
The snapshot below captures the key issue details at a glance:
| Particulars | Details |
| IPO Opens | 9 Feb 2026 |
| IPO Closes | 11 Feb 2026 |
| IPO Lot Size | 116 shares |
| Face value | ₹2 per equity share |
| Price Band | ₹122- ₹129 per share |
| Issue Price | – |
| Offer for Sale (OFS) | ₹300 crore |
| Fresh Issue | ₹710 crore |
| Issue Type | Book-built issue |
| Listing at | BSE and NSE |
| Total Issue | ₹1010 crore |
| Minimum Investment | ₹14,964 (1 lot × ₹129) |
Timeline of the Aye Finance IPO
Here are the key dates to track for the IPO-
| Particular | Date / time |
| IPO Open Date | 9 February 2026 |
| IPO Close Date | 11 February 2026 |
| Tentative Allotment | 12 February 2026 |
| Initiation of Refunds | 13 February 2026 |
| Credit of Shares to Demat | 13 February 2026 |
| Tentative Listing Date | 16 February 2026 (BSE & NSE) |
| Cut-off time for UPI mandate confirmation | 5 pm IST on 11 February 2026 |
Aye Finance Key Performance Indicator
Aye Finance’s core KPIs’ are summarised below.
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE (%) | 5.46 | 17.28 | 12.12 |
| Debt Equity (times) | 3.04x | 2.84x | 2.73x |
| RoNW (%) | 5.46 | 17.28 | 12.12 |
| PAT Margin (%) | 6.20 | 16.02 | 11.64 |
| Price Book Value | 2.68x | 1.71x | 1.45x |
Aye Finance Financials
The key financial figures of Aye Finance are as follows:
| Particulars (₹ lakh) | 2023 | 2024 | 2025 |
| Revenue (Total Income) | 64,334 | 107,175 | 150,499 |
| Total Asset | 312,600 | 486,959 | 633,863 |
| Profit (Profit for the year / PAT) | 3,987 | 17,168 | 17,525 |
Subscription Status of the Aye Finance IPO
Subscription Details Not Yet Available.
Subscription information will be displayed once the bidding process starts.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Aye Finance IPO Grey Market Premium Today
The Aye Finance IPO GMP today is ₹5, which points to mild grey market demand ahead of the issue opening. The premium has eased from ₹7 on 4 February 2026 to ₹5 on 5 February 2026, so sentiment looks a bit softer right now.
| Date | GMP | Estimated Listing Price | Estimated Listing Gain | Trend |
| 5 Feb 2026 (today) | ₹5 | ₹134 | 3.88% | 🔽 |
| 4 Feb 2026 | ₹7 | ₹136 | 5.43% | 🔼 |
| 3 Feb 2026 | – | – | – | – |
Note: GMP is an informal indicator and can vary with market sentiment & demand.
Aye Finance IPO Reservation
The issue is divided among investor categories in the allocation shown below.
| Investor Category | Reservation |
| Market Maker Shares | 0 (Not applicable for a mainboard IPO) |
| QIB Shares | 2,34,88,372 |
| NII (HNI) Shares | 1,17,44,186 |
| Retail Shares | 78,29,457 |
| Total Shares | 7,82,94,573 |
Lot Size of the Aye Finance IPO
Investors may apply based on the lot sizes mentioned below:
| Investor Type | Lots | Shares | Amount |
| Individual Investors – Retail (Minimum) | 1 | 116 | ₹14,964 |
| Individual Investors – Retail (Maximum) | 13 | 1,508 | ₹1,94,532 |
| S-HNI (Minimum) | 14 | 1,624 | ₹2,09,496 |
| S-HNI (Maximum) | 66 | 7,656 | ₹9,87,624 |
| B-HNI (Minimum) | 67 | 7,772 | ₹10,02,588 |
Anchor Investors in the Aye Finance IPO
The table below summarises the anchor investor details for this issue:
| Particulars | Details |
| Anchor Bidding Date | February 6, 2026 |
| Shares Offered | 3,52,32,558 |
| Portion Size | 45% of the total issue |
| 30 Days Lock-in for 50% shares | March 8, 2026 |
| 90 Days Lock-in for remaining shares | May 7, 2026 |
Aye Finance IPO Prospectus
For a deeper analysis, check the offer documents listed below:
About Aye Finance
Aye Finance is an Indian NBFC that lends to micro and small enterprises, mainly for working capital and business growth. It offers secured and unsecured business loans, including property-backed loans, and aims to support borrowers with limited credit history.
The company talks openly about how it assesses risk, using a mix of financial and non-financial inputs alongside its local business knowledge, supported by automation and analytics. It also reports a wide on-ground footprint, with 568 branches across 18 states and 3 union territories (as of 30 September 2025).
| Particulars | Details |
| Founded in | Incorporated on 12 August 1993 |
| Managing Director | Sanjay Sharma. |
| Services they Provide | NBFC providing small-ticket business loans to micro and small enterprises. |
| Book running lead manager | Axis Capital, IIFL Capital, JM Financial, Nuvama Wealth. |
| Registrar of the issue | KFin Technologies. |
Objectives of the Aye Finance IPO
The funds generated from this issue will be allocated towards the given purposes:
| S. No. | Particulars | Amount (in ₹ lakh) |
| 1 | Augmenting the company’s capital base to support business and asset growth (Fresh Issue proceeds) | ₹71,000 |
| 2 | Offer for Sale proceeds paid to selling shareholders | ₹30,000 |
| Total issue size | ₹1,01,000 |
Strength Of Aye Finance
- Clear focus on an underserved segment: The business targets micro and small enterprises that often struggle to get formal credit, which keeps demand broad even across many towns and clusters.
- Cluster-based approach with local checks: It uses a cluster-led lending model with on-ground credit assessment, backed by central risk controls, which can improve decision quality at the branch level.
- Growth in the loan book: Reported assets under management grew at a fast pace over recent years, which signals execution capability and expanding reach.
- Repeat borrowers: A meaningful share of disbursements coming from repeat loans can indicate customer stickiness and familiarity with borrower behaviour.
- Tech-enabled processes: The model blends field inputs with technology-driven assessment and risk management, which can help scale without losing control.
Risk of Aye Finance
- Credit default risk is the core risk: If borrowers delay or do not repay, it directly hits collections, profits, and capital. This matters more in micro-business lending during slowdowns.
- Rising bad loans: Gross NPA (loans that have turned non-performing) has moved up in recent periods, including a higher level reported for the September 2025 quarter.
- Funding and liquidity risk: Like most NBFCs, it depends on borrowings to fund lending, so tighter liquidity or higher rates can raise costs and squeeze margins.
- Concentration risk: Lending linked to specific clusters, geographies, or industries can create pockets of stress if a local market weakens.
- Operational and data risk: Credit decisions rely on customer and third-party data; errors, fraud, or system issues can lead to wrong underwriting or losses.
Aye Finance IPO Review
Aye Finance is an NBFC focused on lending to micro and small businesses. The offer combines fresh capital for growth with an offer for sale, so the company gains funds while some existing holders reduce exposure.
On fundamentals, the company has shown scale in recent years, but near-term performance has been softer. Reported profit for H1 FY26 fell to ~₹64 crore, which is a reminder that credit costs and collections can move quickly in an NBFC cycle. Overall, the IPO can be suitable for investors comfortable with NBFC credit-cycle risk.
Other Recent IPO List
Interested in more IPO insights? Take a look at these upcoming and recently listed issues.
| Grover Jewells IPO | Hannah Joseph Hospital IPO |
| CKK Retail Mart IPO | Accretion Nutraveda IPO |
| Biopol Chemicals IPO | NFP Sampoorna Foods IPO |
| KRM Ayurveda IPO | Kasturi Metal Composite IPO |
Aye Finance IPO FAQs
Aye Finance IPO is the company’s public issue where investors can apply for its shares before listing on BSE & NSE. The IPO opens 9 February 2026, closes 11 February 2026, with a price band of ₹122-₹129 and a lot size of 116 shares.
Apply through your broker’s IPO section or your bank’s ASBA option, select Aye Finance, enter your PAN and demat details, then place the bid in lot-size multiples. If you apply via UPI, approve the UPI mandate and complete confirmation by 5:00 pm on the closing day.
Aye Finance’s IPO has a ₹122–₹129 price band and runs 9–11 February 2026, so the basics are clear, but the “good or bad” takeaway depends on how you weigh business growth against credit-cycle volatility.
Based on the current grey market premium of ₹5, the implied listing price is about ₹134 (₹129 + ₹5), which works out to an estimated 3.88% listing gain versus the upper band. This is only an unofficial, fast-changing indicator, so actual listing-day returns depend on demand and market conditions.
The Aye Finance IPO opens for subscription on 9 February 2026 and closes on 11 February 2026.
The lot size of the Aye Finance IPO is 116 shares per application lot.
The Aye Finance IPO allotment (basis of allotment) is expected on 12 February 2026 (tentative).
The Aye Finance IPO is scheduled to list on 16 February 2026 on BSE and NSE (tentative).
