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Aye Finance Files DRHP For INR 1,450 Cr IPO


Published on 2024-12-17 17:40:57 - inc42
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  • The IPO will include a fresh issue of equity shares worth INR 885 Cr and an offer-for-sale (OFS) amounting to INR 565 Cr

Aye Finance, 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 INR 1,450 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth up to INR 1,000 crore and an offer for sale (OFS) of up to INR 450 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. Aye Finance, which started operations in 2014, has grown significantly, serving over 6 lakh customers across 26 states and 3 union territories in India, with a focus on providing credit solutions to underserved MSMEs. The IPO is part of the company's strategy to expand its reach and enhance its product offerings in the MSME sector.

Read the Full inc42 Article at:
[ https://inc42.com/buzz/aye-finance-files-drhp-for-inr-1450-cr-ipo/ ]