MSME lender Aye Finance raises Rs 454.5 crore from anchor investors ahead of IPO
08 Feb 2026, 04:29 PMOut of the total allocation of 3.52 crore equity shares to the anchor investors, 76.74 lakh equity shares were allocated to two domestic mutual funds through a total of 4 schemes.
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MSME lender Aye Finance has raised Rs 454.5 crore from anchor investors ahead of its Rs 1,010 crore initial public offering.
The IPO, which is a mix of fresh issue of shares worth Rs 710 crore and an offer-for-sale of Rs 300 crore worth shares, will open for public subscription on February 9, and close on February 11, at Rs 122-129 price band.
The Gurugram-based company informed the exchanges that it allocated equity shares at Rs 129 per share to anchor investors.
New York State Teachers Retirement System, Societe Generale, HDFC Life Insurance Company, BNP Paribas Financial Markets, Bay Pond Partners and Ithan Creek Master Investors (Cayman) are some institutions that participated in the anchor round.
Among other investors participated in the round, include Goldman Sachs Funds – Goldman Sachs India Equity Portfolio, Bank of India Small Cap Fund, Nippon Life Inda Trustee – Nippon India Banking & Financial Services Fund and 360 One Equity Opportunity Fund.
"Out of the total allocation of 3.52 crore equity shares to the anchor investors, 76.74 lakh equity shares were allocated to two domestic mutual funds through a total of 4 schemes," the company said.
Axis Capital Limited, IIFL Capital Services Limited, JM Financial Limited, and Nuvama Wealth Management Limited are the book-running lead managers.
The Offer is being made through the book-building process, wherein not more than 75% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 10% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
The selling shareholders in Aye Finance IPO, include Alpha Wave India, MAJ Invest Financial Inclusion Fund, Alphabet-backed CapitalG, LGT Capital, and Vikram Jetley (who co-founded Aye Finance, along with Sanjay Sharma).
The Elevation Capital-backed company – which had originally set the OFS at Rs 565 crore, as per its DRHP filed in December 2024 – will see Alpha Wave selling shares worth Rs 30 crore; MAJ Invest (Rs 139.8 crore); CapitalG (Rs 82.5 crore); LGT Capital (Rs 30 crore); and Vikram Jetley (Rs 17.7 crore). The company's largest stakeholder Elevation Capital with 16.03% is not selling its shares in the IPO.
Aye Finance provides business loans to micro scale enterprises in India, with 5.86 lakh active unique customers across 18 states and 3 union territories and with assets under management (AUM) of Rs 6,028 crore as of September 30, 2025 – which grew from Rs 4,980 crore as of September 30, 2024.
For the six month period (April-September 2025), Aye Finance recorded Rs 843.5 crore in revenue from operations, compared to Rs 692 crore in the same period during previous fiscal. Interest income increased to Rs 733.8 crore during Apr-Sep 2025, against Rs 640 crore during Apr-Sep 2024 period.
Net profit stood at Rs 64.6 crore for six months period ended September 2025, which dropped from Rs 108 crore reported in the same period previous fiscal.
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