Aye Finance IPO subscribed 12% on Day 1, retail portion booked 26%: Check latest GMP

Aye Finance IPO

• Aye Finance IPO opened for bidding, subscribed 12 percent on Day 1
• IPO aims to raise Rs 1,010 crore, price band set at Rs 122-129 per share
• Shares to list on BSE and NSE on February 16, allotment likely by February 12

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The mainboard IPO of Aye Finance opened for public bidding today, February 9. The maiden issue of the company has been subscribed 12 percent on Day 1.

Aye Finance IPO received bids for around 54.46 lakh shares, as against the offer size of 4.55 crore shares, according to data on NSE. Retail investors have subscribed 26 percent of their reserved portion so far.

The portions kept for Non Institutional Investors (NII) and Qualified Institutional Buyers (QIB) have been booked 1 percent and 13 percent respectively on Day 1.

About Aye Finance IPO:

Aye Finance launched its IPO to raise Rs 1,010 crore through a fresh issue of shares worth Rs 710 crore and an offer-for-sale (OFS) of shares worth Rs 300 crore by Alpha Wave India, MAJ Invest, CapitalG, LGT Capital, and Vikram Jetley.

The IPO of the Gurugram-based non-banking finance company (NBFC) will remain open for public bidding at a price band of Rs 122-129 per share. Investors can bid for a minimum of 116 shares, requiring an investment of Rs 14,152 at the upper price band, and in multiples thereafter. The allotments will likely be finalized by February 12, and the shares of the company are scheduled to be listed on stock exchanges BSE and NSE on February 16.

Aye Finance IPO GMP:

Ahead of listing, the unlisted shares of Aye Finance were trading flat at the IPO price with zero grey market premium (GMP), according to data on Investorgain. The GMP quoted by the site has fallen from the 3.88 percent quoted on February 4.

According to IPO Watch too, the unlisted shares of the company were trading with zero GMP over the IPO price.

Aye Finance IPO Anchor Book:

The NBFC on February 6 mobilised Rs 454.5 crore from 19 anchor investors. The company on Friday said it has finalised allocation of 3.52 crore equity shares to anchor investors at the upper price band. Nippon Life India, and Goldman Sachs Funds were the biggest investors in the anchor book, each buying shares worth Rs 74 crore.

Global names like Bay Pond, Ithan Creek Master Investors, Intergrated Core Strategies, Societe Generale, Ashoka India Equity Investment Trust, and BNP Paribas Financial Markets also participated in the anchor book.

The NBFC that provides loans to micro scale micro, small and medium enterprises (MSMEs) with small-ticket business loans with an average ticket size on disbursement of Rs 0.18 million to micro enterprises will utilise fresh issue proceeds for augmenting it capital base to meet future capital requirements arising out of growth of business and assets.

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