NBFC Aye Finance’s IPO continued to see tepid response on the second day of bidding, with the issue subscribed 15% as of 13:48 IST

Retail individual investors continued to drive the demand, placing bids for 34.67 Lakh shares against 82.78 Lakh shares reserved for them

The subscription for the qualified institutional buyers’ category remained unchanged from the first day of bidding at 13%

NBFC Aye Finance’s IPO continued to see tepid response on the second day of bidding, with the issue subscribed 15% as of 13:48 IST. It received bids for 68.08 Lakh shares against 4.55 Cr shares on offer.

Retail individual investors continued to drive the demand, placing bids for 34.67 Lakh shares against 82.78 Lakh shares reserved for them. This translated to a 42% subscription of their quota.

The subscription for the qualified institutional buyers’ category remained unchanged from the first day of bidding at 13%, receiving bids for 31.88 Lakh shares against 2.48 Cr shares reserved.

Non-institutional investors subscribed to just 1% of their quota, placing bids for 1.53 Lakh shares against 1.24 Cr shares reserved.

The NBFC’s public issue was subscribed about 12% at the end of the first day of budding.

The IPO comprises a fresh issue of ₹710 Cr and an offer-for-sale (OFS) component of 300 Cr.

The company has set the price band for the public issue at ₹122 to ₹129. At the upper end of the price band, the IPO values the NBFC at about  ₹3,183 Cr (about $352 Mn).

Founded in 2014 by Jetley and Sanjay Sharma, Aye Finance offers small-ticket business loans to MSMEs. It offers 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 ₹64.3 Cr in the first half of the current financial year (H1 FY26) from ₹106.9 Cr in H1 FY25. Operating revenue grew 21.8% to ₹843.5 Cr during the period under review from ₹692.24 Cr in H1 FY25.