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MSME-focused NBFC Aye Finance’s shares made their debut on the bourses today, listing flat at the issue price of ₹129 on the BSE and the NSE.
At 10:09 IST, the stock was trading 4.07% below the issue price at ₹123.75 on the BSE. The company’s market capitalisation stood at ₹3,054 Cr (about $336.7 Mn).
The company’s IPO, which comprised a fresh issue size of ₹710 Cr and an offer-for-sale (OFS) component of ₹300 Cr, was subscribed 97%.
The price band for the public issue was set at ₹122 to ₹129.
Cofounder and promoter Vikram Jetley, Alpha Wave India I LP, MAJ Invest Financial Inclusion Fund II, CapitalG LP, LGT Capital Invest Mauritius PCC with Cell E/VP offloaded shares via the OFS. MAJ Invest emerged as the biggest gainer from the public listing, raking in a 1.7X return on its initial investment.
(The story will be updated soon)
The post Aye Finance IPO: Shares List Flat At ₹129 appeared first on Inc42 Media.
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