Aye Finance IPO GMP: The IPO of non-banking financial company Aayi Finance opened for subscription today, which will close on Wednesday, February 11. Aye Finance’s IPO did not have a very good first day and received a very lukewarm response from investors. According to NSE data, this IPO got only 0.12 times i.e. 12 percent subscription on the first day. Let us tell you that the company wants to raise Rs 1010 crore from this IPO. To raise Rs 1010 crore, the company will issue a total of 7,82,94,572 shares with a face value of Rs 2 each. Aayi Finance has fixed the price band of Rs 122 to Rs 129 for each share for its IPO.
The company will be listed in the stock markets on 16th February
Under the IPO of Aye Finance, 5,50,38,759 fresh shares worth Rs 710 crore will be issued, while the remaining 2,32,55,813 shares worth Rs 300 crore will be issued through OFS. Retail investors will be given 116 shares in one lot and for this they will have to invest at least Rs 14,964. After the IPO closes on February 11, shares will be allotted on February 12. Investors who do not get shares will be refunded on February 13. Shares will be credited to the demat accounts of investors on 13th February itself. This is a mainboard IPO, which will be listed on both the major stock market exchanges of the country, BSE and NSE, on 16 February.
What was the reaction to the shares in the gray market?
Aye Finance had raised Rs 454.5 crore from anchor investors on Friday. According to NSE data, Aayi Finance’s IPO received bids for only 54,46,548 shares compared to 4,55,32,785 shares on the first day. The portion of retail investors was subscribed 0.26 times, that of QIBs 0.13 times and that of NII only 0.01 times. Due to lackluster subscription, there was not much movement in the shares of Aye Finance even in the gray market. Till the time of writing the news, the GMP price of Aye Finance shares was zero, that is, the shares of the company were trading without any premium.
Disclaimer: This article has been written for information purposes only. Always consult your financial advisor before making any kind of investment or taking any financial risk. India TV will not be liable for any kind of risk.
Latest Business News