Aye Finance to raise $15 million via NCDs
09 Jun 2026, 12:44 PMThe proposed debt fundraising comes only a few months after Aye Finance’s initial public offering (IPO).
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Aye Finance is set to raise up to $15 million through the issuance of secured non-convertible debentures (NCDs).
The recently listed non-banking financial company (NBFC) has received approval from its board committee to proceed with the fundraising exercise, it said in a filing to the stock exchanges.
The company will issue the debentures on a private placement basis, with each NCD carrying a face value of Rs 1 lakh. The allotment is scheduled for June 25, and the securities will have a tenure of five years. They will also be listed on the BSE’s Wholesale Debt Market platform.
I said the interest rate on the debentures will be linked to currency or interest-rate hedging arrangements agreed upon with investors. Interest payments will be made every six months, while the principal amount will be repaid in five equal instalments beginning 18 months after allotment.
The company has pledged a pool of loan assets and receivables as security for the issue. It has also committed to maintaining collateral worth at least 1.1 times the outstanding debenture value until full repayment.
The proposed debt fundraising comes only a few months after Aye Finance’s initial public offering (IPO), which included a fresh issue of shares worth Rs 710 crore and an offer-for-sale (OFS) of Rs 300 crore. The company had stated that the IPO proceeds would be used primarily to strengthen its capital base and support future growth.
Aye Finance, which focuses on providing loans to micro, small and medium enterprises (MSMEs), offers both small-ticket business loans and mortgage-backed financing solutions. The lender reported assets under management (AUM) of Rs 7,044 crore at the end of FY26.
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