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Anonymous
Stealth • 2d
Aye Finance Secures INR 110 Cr in Debt Ahead of IPO Delhi, India- IPO-bound lending tech startup Aye Finance has successfully secured INR 110 Cr (approximately $12.8 Mn) in debt from a group of investors, including Northern Arc, ASK Financial Holdings, MAS Financial Services, and CredAvenue. In an exchange filing dated December 31, the non-banking financial company (NBFC) announced that its board had approved the issuance of 1,000 non-convertible debentures (NCDs) with a face value of INR 1 Lakh each in two tranches to raise the funds. Earlier, in a separate filing with the Bombay Stock Exchange (BSE) on December 20, Aye Finance had stated its intention to use the funds to expand its NBFC operations. This latest round of debt financing comes just days after the lending tech startup filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a INR 1,450 Cr initial public offering (IPO).
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