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AYE Finance IPO: AYE Finance's IPO opened for investment today. The company aims to raise ₹1,010 crore. Learn about its latest GMP, price band, and all the important details related to the investment.

AYE Finance IPO: Gurugram-based NBFC company AYE Finance's IPO opened for investment today, February 9th. If you are planning to invest in the stock market, be sure to read this article till the end to understand all the important details related to this IPO.

How was the first day?

By 11:10 AM on the first day of the IPO, the response from investors was mixed.

Overall, it has been subscribed 2 percent so far.
Retail investors have shown good interest, and 12 percent of the portion reserved for them has been subscribed.
However, large investors (NII and QIB) have not yet placed any significant bids, as they often become active in the last few days.

What are the IPO details?

The company aims to raise ₹1,010 crore through this IPO. Of this, ₹710 crore worth of new shares will be issued, which the company will use to expand its business.

Price Band: ₹122 to ₹129 per share.
Minimum Investment: You will have to buy a minimum of 116 shares (1 lot), which will require ₹14,152.
Listing Date: The shares will be listed on BSE and NSE on February 16th.

What does the Grey Market (GMP) indicate?

Before investing in an IPO, people often look at the Grey Market Premium (GMP). Currently, AYE Finance's GMP is zero (0). This means that the market does not expect very high profits from this share upon listing. A few days ago, it was at a premium of around 4%, which has now fallen to flat.

What does this company do?

AYE Finance primarily provides business loans to Micro, Small, and Medium Enterprises (MSMEs). Their average loan size is approximately 1.8 lakh rupees. The company focuses on small businesses that are often unable to secure loans from larger banks.