Aye Finance IPO: Shares List Flat At ₹129

MSME-focused NBFC Aye Finance’s shares made their debut on the bourses today, listing flat at the issue price of ₹129 on the BSE and the NSE.

At 10:09 IST, the stock was trading 4.07% below the issue price at ₹123.75 on the BSE.

The company’s market capitalisation stood at ₹3,054 Cr (about $336.7 Mn). The IPO valued the NBFC at about ₹3,183 Cr (about $351.4 Mn) at the upper end of the price band of ₹122 to ₹129.

The company’s IPO, which comprised a fresh issue of ₹710 Cr and an offer-for-sale (OFS) component of ₹300 Cr, was subscribed 97%. The issue received bids for 4.42 Cr shares against 4.55 Cr shares on offer.

Cofounder and promoter Vikram Jetley, Alpha Wave India I LP, MAJ Invest Financial Inclusion Fund II, CapitalG LP, LGT Capital Invest Mauritius PCC with Cell E/VP offloaded shares via the OFS.