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Aye Finance Limited files DRHP with SEBI for Rs 1,450 crore IPO

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The IPO, with a face value of Rs 2 per equity share, combines a fresh issue of up to Rs 885 crore and an offer of sale of up to Rs 565 crore by Corporate and Individual Selling Shareholders.
Aye Finance Limited, a non-banking financial company (NBFC) focused on lending to micro, small, and medium enterprises (MSMEs), has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 1,450 crore through an Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 600 crore and an offer for sale (OFS) of up to Rs 850 crore by existing shareholders. The company plans to use the net proceeds from the fresh issue to augment its capital base to meet future capital requirements and for general corporate purposes. The shares will be listed on both BSE and NSE. Aye Finance, established in 2014, aims to provide financial solutions to underserved MSMEs in India, particularly those in rural and semi-urban areas, and has shown significant growth in its loan portfolio and customer base over the years.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/news/aye-finance-limited-files-drhp-with-sebi-for-rs-1-450-crore-ipo/ar-AA1w0a44 ]