Thu, December 19, 2024
[ Thu, Dec 19th 2024 ]: Fortune
Motown: What's going on?
Wed, December 18, 2024
[ Wed, Dec 18th 2024 ]: MoneyWeek
Five stocks for 2025
Tue, December 17, 2024
[ Tue, Dec 17th 2024 ]: Mint
Enel India deal on the final stretch
Mon, December 16, 2024
[ Mon, Dec 16th 2024 ]: MoneyWeek
6 taxes going up in 2025
Sun, December 15, 2024
Sat, December 14, 2024

Alphabet, Elevation Capital, LGT-backed Aye Finance plans to float Rs 1,450-crore IPO, files draft papers with SEBI


  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. -450-crore-ipo-files-draft-papers-with-sebi.html
  Print publication without navigation Published in Business and Finance on by moneycontrol.com
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source


  The initial public offering consists of fresh issuance of equity shares worth Rs 885 crore, and an offer-for-sale of Rs 565 crore worth shares by existing shareholders, as per the DRHP filed on 6.

Aye Finance, backed by investors like Alphabet, Elevation Capital, and LGT, has filed draft papers with SEBI to launch an IPO aiming to raise Rs 1,450 crore. The IPO includes a fresh issue of equity shares worth Rs 600 crore and an offer for sale of Rs 850 crore by existing shareholders. The funds raised will be used to strengthen the company's capital base to meet future capital requirements and for onward lending. The company, which provides business loans to micro enterprises, reported a significant increase in its total income and profit after tax for the fiscal year ending March 2024, with total income rising to Rs 1,037 crore from Rs 662 crore the previous year, and profit after tax increasing to Rs 114 crore from Rs 19 crore.

Read the Full moneycontrol.com Article at:
[ https://www.moneycontrol.com/news/business/ipo/alphabet-elevation-capital-lgt-backed-aye-finance-plans-to-float-rs-1-450-crore-ipo-files-draft-papers-with-sebi-12891390.html ]

Publication Contributing Sources