Aye Finance IPO
Aye Finance Limited (AYE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 February 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -2.3% (likely range -3% to +6%), day's high +1.8%, chance of a gain 33%. Actual: 0.0% at the open, +3.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 2,48,36,065 | 3,72,41,220 | 1.50x | |
| NII (HNI) total | 1,24,18,032 | 6,23,616 | 0.05x | |
| Big NII (above ₹10 lakh) | 82,78,688 | 1,76,204 | 0.02x | |
| Small NII (₹2-10 lakh) | 41,39,344 | 4,47,412 | 0.11x | |
| Retail | 82,78,688 | 63,56,452 | 0.77x | |
| Total | 4,55,32,785 | 4,42,21,288 | 0.97x |
Bids on NSE and BSE together, as published by NSE, as of 11 Feb 2026, 07:00 PM. Shares offered exclude the anchor portion. 12% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Aye Finance's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Mishra Dhatu NigamMar 2018 | 1.96x | 0.12x | 0.72x | 1.21x | ₹755 Cr | -3.3% | +1.1% |
| KSH InternationalDec 2025 | 1.06x | 0.42x | 0.86x | 0.83x | ₹747 Cr | -3.6% | -3.6% |
| Star Health and Allied Insurance CompanyDec 2021 | 1.03x | 0.19x | 1.10x | 0.79x | — | -6.1% | +4.4% |
| Carraro IndiaDec 2024 | 2.21x | 0.60x | 0.71x | 1.12x | ₹1,317 Cr | -7.5% | -3.1% |
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
| Garden Reach Shipbuilders & EngineersOct 2018 | 1.81x | 0.31x | 0.24x | 1.02x | ₹598 Cr | -13.1% | -7.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| IIFL Capital Services | 94 | +19.3% | 71% |
| JM Financial | 109 | +22.8% | 75% |
| Nuvama Wealth Management | 35 | +11.9% | 66% |
Offer documents (NSE)
Frequently asked
What is the Aye Finance IPO price band and lot size? ₹122–129 per share, with a lot of 116 shares, so the smallest retail bid is ₹14,964.
How many times has it been subscribed? 0.97x overall: QIB 1.50x, NII 0.05x, retail 0.77x.
How did it list? It opened at ₹129, +0.0% against the issue price of ₹129, and closed its first day -0.1%.
