Aye Finance IPO 2026: Key Details, Dates & What Investors Should Know

The Aye Finance IPO, one of the notable initial public offerings debuting in February 2026, has opened for public subscription, drawing attention from retail and institutional investors alike. This IPO marks a significant milestone for the Alphabet-backed non-banking financial company (NBFC) that specializes in lending to micro, small and medium enterprises (MSMEs) across India.

IPO Overview

• Company: Aye Finance Ltd 
• IPO Size: ₹1,010 crore (Total Issue) 
• Price Band: ₹122 – ₹129 per share 
• Face Value: ₹2 per share 
• Issue Type: Book Built Public Issue 

The issue consists of a fresh issue of ~₹710 crore, which will be utilised for business expansion and strengthening the capital base, and an offer for sale (OFS) of ~₹300 crore by existing investors.

Important Dates

• Subscription Opens: February 9, 2026 
• Subscription Closes: February 11, 2026 
• Allotment Date (Tentative): February 12, 2026 
• Refund & Credit of Shares: February 13, 2026 
• Listing Date (Expected): February 16, 2026 on BSE & NSE 

Lot Size & Investment

• Lot Size: 116 shares 
• Minimum Investment (Upper Band): ~₹14,964 (116 × ₹129) 

Investors must apply in multiples of 116 shares. Retail individual investors usually evaluate the IPO based on fundamentals and market sentiment before applying.

Grey Market Premium (GMP) & Market Sentiment

Grey Market Premium (GMP), an unofficial indicator of expected listing performance, has been closely watched ahead of the IPO’s public subscription. While specific real-time GMP figures vary across sources, early signals suggested a moderate sentiment, with the market viewing the IPO more on its fundamentals than speculative gains.

Note that GMP is not an official price and should not be the sole basis for investment decisions.

Company Profile & Business Model

Aye Finance is a middle-layer NBFC, incorporated in 1993, focused on lending to underserved MSMEs across manufacturing, trading, services and allied sectors. The company offers a range of secured and unsecured business loan products such as hypothecation loans, mortgage-backed loans and property-backed credit.

The company’s portfolio emphasizes micro and small enterprises—businesses that often face challenges accessing formal credit from traditional banks—positioning Aye Finance uniquely in the Indian credit ecosystem.

Anchor Investors & Institutional Backing

Ahead of the public offer, Aye Finance raised ₹454 crore from anchor investors at the upper end of the price band (₹129/share). Major participants in the anchor book included global and domestic institutions such as Goldman Sachs, HDFC Life, BNP Paribas Financial Markets, and others—signalling strong institutional interest.

Strong anchor participation often lends confidence in the IPO’s valuation but does not guarantee a positive listing performance.

Final Thoughts for Investors

The Aye Finance IPO represents an opportunity to participate in a financial technology-driven NBFC serving India’s MSME sector. The company has shown consistent revenue and profit growth, and its diversified loan portfolio offers exposure to a large addressable credit market.

However, investors should consider the following before applying:

• Conduct personalised research or consult certified financial advisors. 
• Evaluate credit risk and asset quality in the NBFC sector. 
• Consider the IPO’s fundamentals, sector outlook, and market conditions.