Strong Sourcing Capabilities Supported by a Diversified Pan-India Presence and High Customer Retention
The following table sets forth certain information of our branch network by state as of September 30, 2025:
State Year of Entry Number of
AUM (₹ million) Percentage of
Delhi 2013 2 248.24 0.41%
Uttar Pradesh 2014 75 9,009.31 14.95%
Rajasthan 2015 57 7,198.59 11.94%
Haryana 2015 23 3,179.47 5.27%
IPO Timeline
Open Date9 Feb 2026
Close Date11 Feb 2026
Allotment12 Feb 2026
Refund13 Feb 2026
Credit to Demat13 Feb 2026
Listing Date16 Feb 2026
Objects of the Issue
Purpose
Amount
1 This includes an income tax demand of for assessment year 2023-2024, which has been disputed by the company and
₹7.6 Cr
2 the company received a demand notice of under Section 156 for AY 2018-19 due to an alleged short deduction of TDS.
₹0.54 Cr
3 the company received a demand order under Section 73 of the CGST Act for FY 2024-25 of related to its operations in
₹0.09 Cr
Risk Factors
IIFL Capital Services Limited (formerlylow
Strengths & Weaknesses
Strengths
✓Strong Sourcing Capabilities Supported by a Diversified Pan-India Presence and High Customer Retention
✓The following table sets forth certain information of our branch network by state as of September 30, 2025:
✓State Year of Entry Number of
✓AUM (₹ million) Percentage of
✓Delhi 2013 2 248.24 0.41%
✓Uttar Pradesh 2014 75 9,009.31 14.95%
✓Rajasthan 2015 57 7,198.59 11.94%
✓Haryana 2015 23 3,179.47 5.27%
Weaknesses
!IIFL Capital Services Limited (formerly
Management & Promoters
Offer size
Shareholding Pattern
Pre-IPO
Category
%
QIB
40%
Peer Comparison
Company
P/E
EPS
Aye FinanceIPO
—
—
Dated February
3.0x
—
Please read Section of the Companies Act
32.0x
—
Pre-IPO Financials
Period
Revenue (Cr)
PAT (Cr)
Net Worth (Cr)
Total Assets (Cr)
September 2025
₹75.6 Cr
₹3.1 Cr
₹0.76 Cr
—
September 2024
₹50,044.1 Cr
₹202.4 Cr
₹1.53 Cr
—
March 2025
—
₹3.1 Cr
₹1.21 Cr
—
March 2024
—
₹202.3 Cr
₹1.73 Cr
—
March 2023
—
₹-0.1 Cr
₹0.55 Cr
—
About
Aye Finance started its journey in 1993 and has been involved in the business of offering secured and unsecured small business loans for working capital, including mortgage loans, ‘Saral’ Property Loans, and secured and unsecured hypothecation loans, primarily to micro-scale MSMEs. Furthermore, the company is ready to provide a business loan so the business can grow, and as collateral assets or property of the business.
Industry Overview
Key Regulations and Policies in India", "Financial Statements", "Outstanding Litigation and Other Material Developments", "Government and Other Approvals" and "Main Provisions of the Articles of Association", on pages 130,148, 154, 256, 304, 476, 479 and 543, respectively, will have the meaning ascribed to such terms in the respective sections. Company Related Terms Term Description A91 and Waterfield Entities Together, A91 Emerging Fund I LLP and Waterfield Alternative Investments Fund I A91 Director The director that may be nominated by A91 Emerging Fund I LLP on our Board ABC Impact IMP
rupiya.io is for research and education only. IPO data is sourced from public disclosures (DRHP/RHP). Not investment advice. Validate with SEBI-regulated disclosures before acting.
