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India’s AI lender Aye Finance to raise $174m via IPO
Non-banking financial company Aye Finance plans to go public, following its board’s approval during an extraordinary general meeting on Wednesday.
The IPO aims to raise up to 1,450 crore rupees (US$174 million), according to regulatory filings.
The IPO will include a fresh issue of shares valued at up to 885 crore rupees (US$106.2 million), along with an offer for sale (OFS) component totaling 565 crore rupees (US$67.8 million).
Merchant bankers Axis Capital, JM Financial, Nuvama, and IIFL Securities have been appointed to manage the listing process.
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