Food and Wine Food and Wine

NBFC player Aye Finance files draft papers with Sebi for Rs 1,450 cr IPO


Published on 2024-12-17 05:40:48 - Business Standard
  Print publication without navigation

  • Aye Finance, a non-banking financial company, has filed draft papers with the markets regulator Sebi to raise Rs 1,450 crore through its Initial Public Offering (IPO).

Aye Finance, a non-banking financial company (NBFC) focused on lending to micro, small, and medium enterprises (MSMEs), has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 1,450 crore through an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 600 crore and an offer for sale (OFS) of Rs 850 crore by promoters and existing shareholders. The proceeds from the fresh issue are intended for augmenting the company's capital base to meet future business requirements. The company, which started operations in 2014, has grown significantly, serving over 800,000 customers across 26 states and union territories in India. The IPO is expected to help Aye Finance expand its reach and enhance its product offerings to better serve the underserved MSME sector.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/markets/ipo/nbfc-player-aye-finance-files-draft-papers-with-sebi-for-rs-1-450-cr-ipo-124121700685_1.html ]