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About Aye Finance Ltd Aye Finance Limited is a non-banking financial company (NBFC) that specializes in providing loans to micro-scale MSMEs (Micro, Small, and Medium Enterprises) across India to support their working capital and business expansion needs. Established in 1993 under the name Doda Finance Private Limited, the company underwent several changes in management and branding, ultimately becoming Aye Finance Limited after its conversion to a public entity. As of December 2024, the company holds a fresh Certificate of Incorporation reflecting its transition to a public limited company.
The company primarily offers small-ticket business loans, averaging Rs 0.15 million per disbursement, catering to customers in manufacturing, trading, service, and allied agriculture industries. Aye Finance provides diverse loan products such as mortgage loans, secured and unsecured hypothecation loans, and its unique 'Saral' property loans. With expertise in secured and unsecured lending, the company demonstrates flexibility in addressing the financial requirements of micro-scale businesses, leveraging a "phygital" model that combines on-ground branch operations with technology and data-driven analytics.
Aye Finance began its physical branch expansion in 2015, opening its first branches in Rajasthan, Punjab, and Haryana, and later expanded to Tamil Nadu and Karnataka in 2016. By 2024, the company has grown its network to 499 branches, demonstrating significant geographical reach and operational scalability. Additionally, it commenced its digital journey in 2016 by introducing an automated loan origination and decision-making system, enhancing efficiency and customer accessibility.
The company is preparing to launch its Initial Public Offering (IPO) to raise Rs 1,450 crore, consisting of a fresh issue of Rs 885 crore and Rs 565 crore through an offer for sale. This initiative is aimed at securing capital for further growth and expansion, presenting an opportunity for traders and investors seeking exposure in India's MSME financial services sector.