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Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129

EntrackrEntrackr · 5d ago
Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129
Medial

Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129 Microlending platform Aye Finance has set a price band of Rs 122–129 per equity share for its upcoming initial public offering (IPO), after filing its red herring prospectus (RHP) with the capital markets regulator. According to the RHP, the public issue will open for subscription on February 9 and close on February 11, while the anchor book is scheduled to open on February 6. At the upper end of the price band, the company’s valuation is expected to be around $352 million. According to the company’s filing, Aye Finance will raise Rs 710 crore through a fresh issue and up to Rs 300 crore through offer-for-sale (OFS), aggregating to a total of Rs 1,010 crore IPO. The company’s co-founder Vikram Jetley and promoters such as 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. Aye Finance had received SEBI’s approval in April, last year. Axis Capital, IIFL Capital, Nuvama and JM Financial are the book-running lead managers for the issue. As per the RHP, Elevation Capital is the largest external shareholder with a 16.03% stake, followed by LGT Capital, which holds 13.99% of the company. Meanwhile, Alpha Wave owns 11.10% of Aye Finance. On the financial side, Aye Finance's revenue from operations increased 21.5% to Rs 407 crore in Q1 FY26, compared to Rs 335 crore in Q1 FY25. However, the company's profit decreased 50% to Rs 30.5 crore in Q1 FY26 with a positive EBITDA of Rs 172 crore in the same period.

Aye Finance raises $30 Mn in Series G round

EntrackrEntrackr · 1y ago
Aye Finance raises $30 Mn in Series G round
Medial

Microlending platform Aye Finance has raised Rs 250 crore ($30 million) in a Series G round led by Singapore’s ABC Impact. The round also saw participation from British International Investment, the UK’s development finance institution and impact investor which led Aye’s Series F round of Rs 310 crore ($37 million) in December 2023. In June this year, the company also raised $30 million in debt. This investment is the first from ABC Impact’s Fund II and boosts the firm’s assets under management (AUM) to over $850 million. The deal completion is subject to completion of standard conditions precedent. With this round, Aye’s equity raise totals Rs 1,250 crore ($150 million). With more than 398 locations operating in 22 states around India, Aye Finance offers financial services to micro and small enterprises, the majority of which are involved in manufacturing, trading, and service industries. Aye Finance offers three loan products with values ranging from Rs 50,000 to Rs 1,000,000: quasi-mortgage loans, hypothetical loans, and add-on loans. The firm claims that it has already extended over 7,600 crore ($915 million) in loans to more than 5,76,000 businesses with a 60% repeat rate. Aye Finance’s revenue from operations grew 44.5% to Rs 623 crore during FY23 with a profit of Rs 54 crore. In FY24, the company claims that its profit grew 3 times to Rs 161 crore and revenue was up 67% to Rs 1072 crore. The company ended FY24 with assets under management (AUM) of Rs 4,500 crore and a gross NPA of 1.21%. It competes with several NBFCs including Indifi, Axio (formerly Capital Float), Lendingkart, Flexiloans and others.

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