Aye Finance IPO
Market Sentiment
Market Lot Size
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 643.34 | 1,071.75 | 1,504.99 | 863.02 |
| Expense | 571.94 | 843.89 | 1,279.98 | 780.44 |
| Profit (PAT) | 39.87 | 171.68 | 175.25 | 64.60 |
| Total Assets | 3,126.00 | 4,869.59 | 6,338.63 | 7,116.01 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| SBFC Finance Limited | 27.32 | 3.21 | 12 |
| Five-Star Business Finance Limited | 12.07 | 36.61 | 19 |
| Manappuram Finance | 12.00 | 18.50 | 22,000 |
| CreditAccess Grameen | 18.50 | 72.00 | 18,000 |
| Fusion Micro Finance | 15.00 | 42.00 | 6,500 |
Promoters: The Company Does Not Have An Identifiable Promoter.
Company Information
The Company Does Not Have An Identifiable Promoter. Aye Finance started its journey in 1993 and has been involved in the business of offering secured and unsecured small business loans for working capital, including mortgage loans, ‘Saral’ Property Loans, and secured and unsecured hypothecation loans, primarily to micro-scale MSMEs. Furthermore, the company is ready to provide a business loan so the business can grow, and as collateral assets or property of the business. It provides loans to businesses like manufacturing, trading, services, and agriculture-related businesses. The company helps 586,825 active customers in 18 states and 3 union territories and manages a lot of money for them. Aye finance provide loans, including mortgage loans, secured hypothecation loans, and unsecured hypothecation loans.
Resources & Documents
Aye Finance Ltd., M-5, Magnum House-I,, Community Centre,, Karampura, New Delhi, New Delhi, 110015
Aye Finance has set a price band of Rs 122–Rs 129 per share for an issue size of Rs 1,010 crore in the nbfc - micro msme lending sector. The stock listed flat against its issue price.
The Company Does Not Have An Identifiable Promoter. Aye Finance started its journey in 1993 and has been involved in the business of offering secured and unsecured small business loans for working capital, including mortgage loans, ‘Saral’ Property Loans, and secured and unsecured hypothecation loans, primarily to micro-scale MSMEs. The company operates in the nbfc - micro msme lending space.
The issue is promoted by The Company Does Not Have An Identifiable Promoter. with Axis Capital Ltd., IIFL Capital Services Ltd., JM Financial Ltd., Nuvama Wealth Management Ltd. acting as lead manager.
Current grey market activity shows a flat premium, indicating muted unofficial demand, down Rs 3 from the previous session. Final subscription data records overall subscription at 1.04x, retail at 0.81x, QIB at 1.62x, NII at 0.05x.
At the upper end of the price band, the issue is priced at a post-issue P/E of 23.45x — a premium to the industry average of 22.00x. On fundamentals, the company is posting revenue growth of 45.0%, a profit margin of 18.5%, return on equity of 14.2% in its most recent reported period. Listed peers in this segment include Manappuram Finance (P/E 12.00x, market cap Rs 22,000 crore) and CreditAccess Grameen (P/E 18.50x, market cap Rs 18,000 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as an Avoid view — key indicators are weak enough that the risk-reward looks unfavourable for now. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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