MSME-focused NBFC Aye Finance’s shares made their debut on the bourses today, listing flat at the issue price of ₹129 on the BSE and the NSE.
At 10:09 IST, the stock was trading 4.07% below the issue price at ₹123.75 on the BSE. The company’s market capitalisation stood at ₹3,054 Cr (about $336.7 Mn). The IPO valued the NBFC at about ₹3,183 Cr (about $351.4 Mn) at the upper end of the price band of ₹122 to ₹129.
The company’s IPO, which comprised a fresh issue of ₹710 Cr and an offer-for-sale (OFS) component of ₹300 Cr, was subscribed 97%. The issue received bids for 4.42 Cr shares against 4.55 Cr shares on offer.
Cofounder and promoter Vikram Jetley, Alpha Wave India I LP, MAJ Invest Financial Inclusion Fund II, CapitalG LP, LGT Capital Invest Mauritius PCC with Cell E/VP offloaded shares via the OFS. MAJ Invest emerged as the biggest gainer from the public listing, raking in a 1.7X return on its initial investment.
Founded in 2014 by Jetley and Sanjay Sharma, Aye Finance offers small-ticket business loans to MSMEs. It provides working capital and business expansion loans against hypothecation of working assets or against security of property to customers across manufacturing, trading, service and allied agriculture sectors.
On the financial front, Aye Finance’s net profit declined 40% to ₹64.6 Cr in the first half of FY26 from ₹106.8 Cr in H1 FY25. Operating revenue rose 21.8% to ₹843.5 Cr in H1 FY26 from ₹692.2 Cr in the year-ago period.
Notably, another new-age tech company, Fractal Analytics, also made its market debut today. Its shares got listed 2.7% below the issue price at ₹876 apiece on the NSE. A total of four new-age tech companies have listed on the exchanges in 2026 so far, with Amagi and Shadowfax being the other two.
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