Ahead of the commencement of the bidding for its public issue on February 9, MSME-focussed NBFC Aye Finance has raised ₹454.5 Cr from anchor investors. The company allotted 3.52 Cr equity shares to anchor investors at a price of ₹129 per share, the upper band of its price spectrum. Of the total, 76.74 Lakh shares, or 21.8% of the total anchor round, were picked up by two domestic mutual funds through four schemes. The domestic mutual funds that led Aye Finance’s anchor round were Bank of India and Nippon Life India. Other investors who participated in the round included Goldman Sachs, Societe Generale, BNP Paribas, New York State Teachers Retirement System, Ashoka India, among others. With this, the company’s IPO will now go live on February 9 and close on February 11. The company’s shares are expected to list on the exchanges on February 16. The NBFC’s public issue comprises a fresh issue of shares worth ₹710 Cr and an OFS component of up to ₹300 Cr. At the upper end of its ₹124 to ₹129 price band, the ₹1,010 Cr IPO values the NBFC at about ₹3,183 Cr. The MSME-focussed lending company plans to utilise the fresh proceeds from… Read MoreInc42 Media
