Aye Finance has received markets regulator Securities and Exchange Board of India’s (SEBI's) clearance to raise funds through initial public offering (IPO). The company’s proposed IPO is a combination of a fresh issue of shares worth Rs 885 crore and an Offer for Sale (OFS) of Rs 565 crore by corporate and individual selling shareholders.
Proceeds from the fresh issuance will be utilized to augment the NBFC's player capital base and for general corporate purposes. Axis Capital, IIFL Capital Services, JM Financial, and Nuvama Wealth Management are the book-running lead managers of the issue. The equity shares are proposed to be listed on the BSE and NSE.
Aye Finance focused on providing loans to micro-scale micro, small, and medium enterprises (MSMEs). It serves over 5 lakh unique active customers through a network of 478 branches spanning 18 states and 3 Union Territories.
