Aye Finance IPO review with GMP, subscription status, price band, lot size, financials, risks and listing expectations. Know IPO dates, registrar, lead manager and strategy before you apply.
Aye Finance IPO GMP Today : ₹0 per share on 09.02.2026, indicating Neutral market sentiment.
Brandman retail IPO subscription : 0.13X
Table of Contents
Aye Finance IPO : Quick Summary
| Parameter | Details |
|---|---|
| IPO Open | February 9, 2026 |
| IPO Close | February 11, 2026 |
| Price Band | ₹122 – ₹129 per share |
| Lot Size | 116 shares |
| Min Retail Investment | ₹ ~14,964 (at upper band) |
| Issue Size | ₹ 1,010 crore (approx) |
| Fresh Issue | ₹710 crore |
| Offer for Sale (OFS) | ₹300 crore |
| Listing Date (Tentative) | February 16, 2026 |
| Exchange | BSE & NSE |
| Registrar | Kfin Technologies |
| Lead Managers | Axis Capital, IIFL, JM Financial, Nuvama Wealth |
Aye Finance IPO Timetable
| Event | Date |
|---|---|
| IPO Opens | Feb 9, 2026 |
| IPO Closes | Feb 11, 2026 |
| Allotment Finalized | Feb 12, 2026 (tentative) |
| Refunds Initiated | Feb 13, 2026 |
| Shares Credit to Demat | Feb 13, 2026 |
| Expected Listing | Feb 16, 2026 |
| Anchor Invest Bidding | Early Feb 6 (pre-IPO) |
Pro Tip: Make sure to complete your application and UPI mandate well before the 5 PM cut off on February 11, 2026, to avoid last minute rushes.
Aye Finance IPO : Investor-wise Issue Structure
| Investor Category | Allocation (% of Net Offer) |
|---|---|
| Qualified Institutional Buyers (QIBs) | Up to 75% |
| Anchor Investors | Part of QIB portion |
| Net QIB (post anchor) | Balance QIB portion |
| Non-Institutional Investors (NIIs / HNIs) | 15% |
| bNII (Above ₹10 Lakhs) | Within NII quota |
| sNII (Below ₹10 Lakhs) | Within NII quota |
| Retail Individual Investors (RIIs) | 10% |
| Total Net Offer | 100% |
Aye Finance IPO : Key Financials (₹ in Crores)
The financial performance of Aye finance reflects steady growth in revenue and profitability over the last three financial years.
| Particulars | FY 2023 | FY 2024 | FY 2025 | H1 FY 2026 (Sep 30, 2025) |
|---|---|---|---|---|
| Total Income / Revenue | 623 | 1,072 | 1,505 | 863 |
| Profit After Tax (PAT) | 44 | 172 | 175 | 65 |
| Assets Under Management (AUM) | — | — | 5,525 | 5,900 |
| Total Assets | 3,126 | 4,837 | — | 7,116 |
| Net Worth | 754 | 1,236 | — | 1,727 |
| Total Borrowings | 2,296 | 3,499 | — | 5,219 |
Aye Finance IPO : Key Ratios
| Ratio / Metric | FY 2023 | FY 2024 | FY 2025 | H1 FY 2026 |
|---|---|---|---|---|
| Return on Equity (RoE) | 5.46 | 17.28 | 12.12 | 7.63 |
| Return on Assets (RoA) | 1.47 | 4.29 | 3.13 | 1.92 |
| Net Interest Margin (NIM) | 13.54 | 15.56 | 15.31 | 14.12 |
| Capital Adequacy Ratio (CRAR) | 31.07 | 32.79 | 34.92 | 32.27 |
| Gross NPA | 2.49 | 3.19 | 4.21 | 4.85 |
| Net NPA | 1.28 | 0.91 | 1.40 | 1.78 |
| Provision Coverage Ratio (PCR) | 49.82 | 72.14 | 67.56 | 64.47 |
| Cost to Income Ratio | 66.03 | 50.96 | 50.10 | 52.62 |
| Debt-to-Equity | 3.03 | 2.83 | 2.73 | 2.53 |
Objectives of Aye Finance IPO
The IPO proceeds will be utilized as follows:
| Objective | Why it matters |
|---|---|
| Raise growth capital | To fund expansion of lending book and support higher loan disbursements. |
| Strengthen capital adequacy | Improves balance sheet resilience and supports regulatory capital requirements. |
| Reduce borrowing dependence | Lowers reliance on wholesale funding by using equity to finance assets. |
| Support geographic and product expansion | Enables entry into new regions and development of new MSME loan products. |
| Invest in technology and operations | Funds for digital platforms, underwriting systems and scale efficiencies. |
| Provide partial liquidity to shareholders | Offer for sale allows early investors and promoters to monetize holdings. |
| Enhance corporate governance and transparency | Public listing brings stricter disclosure, board oversight and investor scrutiny. |
| Raise brand visibility and market credibility | Listing on exchanges boosts trust among borrowers, lenders and partners. |
Objectives of Aye Finance IPO
| Objective | Why it matters |
|---|---|
| Raise growth capital | To fund expansion of lending book and support higher loan disbursements. |
| Strengthen capital adequacy | Improves balance sheet resilience and supports regulatory capital requirements. |
| Reduce borrowing dependence | Lowers reliance on wholesale funding by using equity to finance assets. |
| Support geographic and product expansion | Enables entry into new regions and development of new MSME loan products. |
| Invest in technology and operations | Funds for digital platforms, underwriting systems, and scale efficiencies. |
| Provide partial liquidity to shareholders | Offer-for-sale allows early investors and promoters to monetize holdings. |
| Enhance corporate governance and transparency | Public listing brings stricter disclosure, board oversight, and investor scrutiny. |
| Raise brand visibility and market credibility | Listing on exchanges boosts trust among borrowers, lenders, and partners. |
Aye Finance Company Background
Aye Finance is an India based non banking financial company focused on providing credit to underserved MSME.
Founded in 2014, Aye Finance was started to address the financing gap for micro and small businesses that are too large for microfinance but too small for traditional commercial lending.
Business Model and Products
Aye Finance uses a cluster based underwriting model and leverages data and alternative credit signals to underwrite loans with limited formal documentation. Its core products are small ticket business loans tailored to micro and small enterprises, distributed through a network of branches and digital channels.
Anchor investor details of Aye Finance IPO
Aye Finance finalised allocation of 3,52,32,558 equity shares to 19 anchor investors at the anchor allocation price of ₹129 per share, raising ₹454.5 crore from the anchor book. The two largest anchor allocations were to Nippon Life India and Goldman Sachs Funds, each subscribing to shares worth ₹74 crore.
Lot Size and Minimum Investment
| Investor Category | Lots | Shares | Investment (@ ₹129) |
|---|---|---|---|
| Retail (Min) | 1 | 116 | ₹14,964 |
| Retail (Max) | 13 | 1,508 | ₹1,94,532 |
| S-HNI (Small HNI) | 14 | 1,624 | ₹2,09,496 |
| S-HNI (Max) | 66 | 7,656 | ₹9,87,624 |
| B-HNI (Big HNI) Min | 67 | 7,772 | ₹10,02,588 |
Conclusion: Should You Apply for the Brandman Retail IPO?
Points to Consider Before You Apply
Potential Positives
- Strong presence in an underserved market with growth opportunity.
- Institutional interest and healthy IPO size.
- Affordable entry point for retail investors.
Potential Risks
- Lending businesses are sensitive to credit defaults and economic slowdowns.
- Performance depends on asset quality, interest rates, and competitive pressures.
- The NBFC sector has seen volatility in past cycles.
Final Take
If you believe in India’s MSME growth story and are comfortable with the risks typical of lending businesses, Aye Finance IPO offers a compelling way to participate in a rising NBFC franchise.
Conservative investors or those seeking short term listing gains may prefer to wait and observe post listing price action before committing.
Disclaimer :
This article is intended for informational and educational purposes only and should not be considered as investment advice or a recommendation to subscribe to any IPO. Readers are strongly encouraged to conduct their own research, consult with a qualified financial advisor, and review the TechDefence Labs company’s official Red Herring Prospectus (RHP) before making any investment decisions.
Investing in IPOs involves risks and past performance is not indicative of future results. Please invest wisely.
Aye Finance IPO Registrar
Kfin Technologies Ltd.
- Contact : 040-67162222; 040-79611000;
- ayefinance.ipo@kfintech.com.
How to check allotment/Raise query
- Visit the Kfin Technologies (IPO Allotment Status) allotment page and select Aye Finance.
- Enter PAN, application number or client ID to view status.
- Contact the registrar over phone or email
Aye finance IPO-FAQs
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What is the price band of Aye Finance IPO?
The IPO price band is fixed at ₹122 to ₹129 per equity share.
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What is the lot size of Aye Finance IPO?
Retail investors must apply for a minimum of 116 shares per lot, amounting to around ₹14,964 at the upper price band.
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On which exchanges will Aye Finance IPO be listed?
The shares are proposed to be listed on BSE and NSE.
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What is the GMP of Aye finance IPO?
Aye finace ipo is 0% on 08/02/2026. For latest GMP of aye finance ipo visit again.
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When is Aye finance ipo allotment?
Aye finance ipo allotment will be finalized on 12th feb,2026. For allotment link visit this link IPO Allotment Status
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When is Aye finance ipo will be listed?
Likely listing date of aye finance ipo is Feb 16, 2026.