Aye Finance IPO Review 2026: GMP, Price Band, Lot Size & Should You Apply?

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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.

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Aye Finance IPO GMP Today : ₹0 per share on 09.02.2026, indicating Neutral market sentiment.

Brandman retail IPO subscription : 0.13X

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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

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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.

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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%

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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

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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

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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.

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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.

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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.

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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.

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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

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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.

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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.

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Aye Finance IPO Registrar

Kfin Technologies Ltd.

• Contact : 040-67162222; 040-79611000;
• ayefinance.ipo@kfintech.com.

How to check allotment/Raise query

1. Visit the Kfin Technologies (IPO Allotment Status) allotment page and select Aye Finance.
2. Enter PAN, application number or client ID to view status.
3. Contact the registrar over phone or email

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Aye finance IPO-FAQs