Aye Finance share price slipped into red after a muted listing on Monday, February 16. Aye Finance share price today fell nearly 5% after the stock listed flat at issue price of ₹129 apiece on the exchanges.
On the BSE, Aye Finance share price touched an intraday high of ₹132.75 apiece and an intraday low of ₹120.60 per share. The market capitalization of the stock was approximately ₹3,077.40 crores.
On the NSE, Aye Finance share price today hit an intraday high of ₹133.80 per share, and an intraday low of ₹120.55 per share.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, highlighted that shares made a flat market debut, indicating neutral investor sentiment and lack of strong listing gains.
According to Nyati, the MSME-focused NBFC continues to offer a structurally strong long-term opportunity, supported by healthy revenue growth of 21.8% YoY in H1 FY26 and strong institutional backing, while the fresh capital raised is expected to support future lending expansion. However, concerns remain due to the sharp 40% YoY decline in net profit, modest IPO subscription of around 97%, and intense competition in the NBFC space.
“The stock currently carries a neutral to slightly cautious bias, and traders should maintain a strict stop loss at ₹118 for short-term positions while long term traders hold with stop loss of ₹110,” advised Shivani.
Dr. Ravi Singh, Chief Research Officer at Master Capital Services Ltd, noted that the IPO has seen relatively low demand from investors and has only partially filled the available number of shares due to both the current volatility in global equity markets and the prevailing negative sentiment in the domestic IPO market at the time of the launch of this IPO.
“The company has a fairly balanced outlook, given the ongoing structural demand for credit from MSMEs in addition to the need for greater financial inclusion within India, assuming that appropriate credit practices and funding costs are utilized by Aye Finance over the next several years,” added Ravi Singh.
Aye Finance IPO details
The IPO, valued at ₹1,010 crore, consists of a fresh issue of equity shares amounting to ₹710 crore and an offer for sale (OFS) of up to ₹300 crore from existing shareholders.
The company plans to use the net proceeds from the fresh issue to enhance its capital base, which will assist in meeting future capital needs stemming from the expansion of its operations and asset portfolio. The price band has been set between ₹122-129 per share, giving the company a valuation of ₹3,184 crore at the upper limit of the range.
The book-running lead managers include Axis Capital Ltd, IIFL Capital Services, JM Financial, and Nuvama Wealth Management.
On the final day of bidding, which took place on Wednesday, February 11, Aye Finance achieved a subscription rate of 97%.
The IPO attracted bids for 4,42,21,288 shares compared to the 4,55,32,785 shares available, based on data from the NSE.
The segment designated for qualified institutional buyers (QIBs) was oversubscribed by 1.5 times, while the retail individual investors (RIIs) category saw a subscription of 77%. However, the portion allocated for non-institutional investors only achieved a 5% subscription rate.
Aye Finance, categorized as a middle-layer non-banking financial company (NBFC), primarily focuses on providing loans to micro and small enterprises (MSEs), a sector that is mostly neglected by conventional banks.
As of September 30, 2025, Aye Finance was active in 18 states and three Union Territories, catering to approximately 5.9 lakh active customers, with assets under management (AUM) totaling ₹6,027.6 crore.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
