Business and Finance
Business and Finance
Tue, December 17, 2024
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Gurugram-based MSME lender Aye Finance Limited files DRHP with SEBI for ?1,450 crore IPO
- Aye Finance has demonstrated strong financial performance, reporting a 291.5% surge in profit after tax (PAT) from
- 43.9 crore in FY2023 to
- 171.7 crore in FY2024.
Aye Finance Limited, a Gurugram-based micro, small, and medium enterprises (MSME) lender, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The IPO aims to collect up to ₹1,450 crore, which includes a fresh issue of equity shares worth ₹600 crore and an offer for sale (OFS) of shares amounting to ₹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 OFS will see shares sold by promoters and investors like Elevation Capital, Aavishkaar Capital, and others. Aye Finance specializes in providing credit solutions to small businesses, particularly those underserved by traditional banking systems, and has been operational since 2014.
Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/economy/gurugram-based-msme-lender-aye-finance-limited-files-drhp-with-sebi-for-1-450-crore-ipo/ar-AA1w0ozV ]
Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/economy/gurugram-based-msme-lender-aye-finance-limited-files-drhp-with-sebi-for-1-450-crore-ipo/ar-AA1w0ozV ]
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