MSME-focussed NBFC Aye Finance has filed its red herring prospectus (RHP) for INR 1,010 Cr IPO. The public issue will open on Monday (February 9) and close on Wednesday (February 11). Anchor bidding will take place on Friday (February 6).
The company has cut the size of the fresh issue to up to INR 710 Cr, down 19.7% from the DRHP. Meanwhile, the offer-for-sale (OFS) component has been trimmed to up to INR 300 Cr.
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 will offload shares via the OFS.
The company has set the price band for the public issue at INR 122 to INR 129. At the upper end of the price band, the IPO values the NBFC at about INR 3,183 Cr (about $352 Mn). Its price to earnings ratio based on FY25 financial numbers stands at 13.81 at the price of INR 129 per share.
(The story will be updated soon)
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