Aye Finance share price: Stock lists at par with IPO issue price of ₹129 per share on NSE, BSE

The stock debuted at ₹129 per share on the National Stock Exchange (NSE) and BSE, which is at par with the IPO issue price of ₹129 per equity share.

Aye Finance share price: Here's how much investors made

The ₹1,010 crore initial share sale consisted of new equity shares aggregating to ₹710 crore and an offer for sale (OFS) of ₹300 crore by CapitalG LP, LGT Capital Invest Mauritius PCC with Cell E/VP, Vikram Jetley, Alpha Wave India I LP, and MAJ Invest Financial Inclusion Fund II K/S.

The fresh issue proceeds will be used to augment the firm's capital base, supporting future capital requirements due to business and asset base expansion.

The initial public offer was subscribed 97%, with total bids for 4,42,21,288 equity shares compared to 4,55,32,785 shares on offer, according to the NSE data.

"Effectively against total bid size of ₹1,010 crore, the IPO has been completely subscribed. However, in the NSE and BSE, total number of shares is computed always at the lower cut-off of the band," the company's spokesperson said.

Classified as a middle-layer NBFC, Aye Finance Ltd focuses on lending to micro and small enterprises, or MSEs, a division that remains largely underserved by traditional banks.

As of September last year, Aye Finance operated across 18 states and three Union Territories (UTs), serving around 5.9 lakh active customers, with assets under management of ₹6,027.6 crore.

Axis Capital Ltd, JM Financial, Nuvama Wealth Management and IIFL Capital Services were the book-running lead managers.