Aye Finance shares list flat at ₹129

Aye Finance shares list on the NSE, BSE

Shares of Aye Finance made a flat debut on the National Stock Exchange of India and BSE Ltd on Monday, listing at ₹129 apiece, in line with the upper end of the issue price band. The muted start followed an initial public offering that saw modest investor participation and reflected cautious sentiment in the broader primary market.

Post-listing, the stock moderated between ₹120.55-133.80. At 11.56 am, it traded at ₹128.76 on the NSE.

The ₹1,010-crore IPO comprised a fresh issue of shares worth up to ₹710 crore and an offer for sale of up to ₹300 crore by existing shareholders. The price band for the issue was set at ₹122–₹129 per share, valuing the non-banking financial company at about ₹3,184 crore at the top end. The offering received 97 per cent subscription by the final day of bidding, indicating lukewarm demand amid volatile global equity markets and subdued appetite for new listings domestically.

The company plans to deploy proceeds from the fresh issue to strengthen its capital base to support future expansion of its lending business and asset growth.

Commenting on the listing, Ravi Singh, chief research officer at Master Capital Services, said the shares began trading near the top of the price range despite limited demand, reflecting prevailing market conditions rather than company-specific concerns. He noted that the lender’s diversified product offerings, technology-driven credit assessment processes and geographic expansion provide a foundation for growth, supported by structural demand for credit among micro, small and medium enterprises. At the same time, he cautioned that relatively elevated credit costs and operating expenses compared with peers will require monitoring as competition intensifies from other NBFCs and fintech lenders.

Aye Finance focuses on extending loans to underserved MSMEs across India, positioning itself within a segment seen as central to financial inclusion and economic expansion. With its listing completed, investor attention is expected to centre on the company’s ability to manage funding costs and asset quality while sustaining growth in its assets under management.

Published on February 16, 2026