Retail investors shouldered a lot of the demand, subscribing to 77% of their quota
Qualified institutional buyers (QIB) ramped up bidding on the third day to 1.5X after being stuck on 13% for the first two days
The least interest in the issue was expressed by non-institutional investors who bid for 5% of their total quota
Update | 7:10 PM IST
Aye Finance’s public issue ended final day of bidding with an undersubscription, with investors bidding for 97% of the overall float. Investors cumulatively bid for 4.42 Cr shares against 4.55 Cr shares on offer.
The issue received the highest interest from qualified institutional buyers, who oversubscribed their quota by 1.5X. QIBs bid for 3.72 Cr shares against 2.48 Cr reserved for them.
Retail investors undersubscribed their quota, bidding for 63.56 Lakh shares against 82.78 Lakh reserved for them. This translated to a 77% subscription.
The least interest for the issue came from non-institutional investors (NIIs), who subscribed to a mere 5% of their quote. NIIs bid for 6.23 Lakh shares of the issue out of 1.24 Cr reserved for them.
Although the IPO closed undersubscribed, the NBFC has met SEBI’s minimum subscription threshold. Under SEBI’s ICDR Regulations, an IPO is required to receive at least 90% subscription of the issue size to be considered successful.
Original | 2:15 PM IST
NBFC Aye Finance’s IPO picked up pace on the final day of bidding and was subscribed 51% as of 14:15 IST. It received bids for 2.30 Cr shares against 4.55 Cr shares on offer.
Qualified institutional buyers (QIBs) ramped up bidding on the third day, after subscription from this cohort did not see any changes on the second day, remaining at 13%. The quota reserved for QIBs was subscribed 47%, getting bids for 1.71 Cr shares against 2.48 Cr reserved for them.
Retail individual investors continued to show strong interest in the public issue, bidding for 55.95 Lakh shares against 82.78 Lakh shares on offer. This translated to 68% subscription.
The least interest in the issue was expressed by non-institutional investors, who bid for 4.30 Lakh shares out of the 1.24 Cr shares reserved for them, translating to a 3% subscription of the quota.
The NBFC’s public issue was subscribed about 16% at the end of the second day of bidding.
The price band for the public issue has been set at ₹122 to ₹129, valuing Aye Finance at ₹3,183 Cr ($352 Mn) at the upper end. The NBFC is looking to raise ₹1,010 Cr through the IPO, with a fresh issue of ₹710 Cr and an offer-for-sale (OFS) component of ₹300 Cr.
On the financial front, Aye Finance reported a 40% decline in its net profit to ₹64.3 Cr in H1 FY26 from ₹106.9 Cr in H1 FY25. While its operating revenue grew 21.8% during this time, a considerable increase in the cost of financing and defaults compounded expenses to ₹780.4 Cr.
Meanwhile, the public issue of Fractal, another new-age tech company, was oversubscribed 1.82X till 14:20 IST today on the final day of bidding.
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