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

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).

The Gurugram-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 885 crore and an Offer for Sale (OFS) of Rs 565 crore by corporate and individual selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.

A91 Emerging Fund I LLP, Alpha Wave India I LP, CapitalG International LLC, CapitalG LP, LGT Capital Invest Mauritius PCC, MAJ Invest Financial Inclusion Fund, Harleen Kaur Jetley and Vikram Jetley are offloading shares in the OFS.

At present, Elevation Capital holds 16.19 per cent stake in Aye Finance, LGT Capital Invest Mauritius PCC owns a 14.13 per cent stake, Alpha Wave India I LP holds 11.21 per cent stake and CapitalG LP and CapitalG International together have 13.27 per cent shareholding, the draft papers showed.

The company may consider raising Rs 177 crore through a pre-IPO placement. If such placement is completed, the fresh issue size will be reduced.

Proceeds from the fresh issuance will be utilized to augment the NBFC's player capital base and for general corporate purposes.

The NBFC player focused on providing loans to micro-scale micro, small, and medium enterprises (MSMEs). It serves over 5 lakh unique active customers through a network of 478 branches spanning 18 states and 3 Union Territories.

As of September 30, 2024, the company's Assets Under Management (AUM) stood at Rs 4,980 crore and its profit After Tax (PAT) surged to Rs 172 crore in fiscal 2024 from Rs 44 crore in fiscal 2023  Axis Capital, IIFL Capital Services, JM Financial , and Nuvama Wealth Management are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.    Aaradhya Disposal Industries files draft papers with NSE Emerge  Aaradhya Disposal Industries, a manufacturer and exporter of high-quality eco-friendly paper products, on Tuesday said it has filed preliminary papers with NSE Emerge to mopup funds through an initial public offering (IPO). The IPO is a fresh issuance of up to 3.696 million equity shares with a face value of  Rs 10 each, the company said in a statement. The shares of the company will be listed on the SME platform of NSE Emerge, according to the draft red herring prospectus. The company intends to utilise the IPO proceeds worth Rs 20 crore to fund the working capital requirement, Rs 16.56 crore to fund expansion of the company, that includes capital expenditure towards purchase of plant and machinery and civil work.