Aye Finance Ltd IPO

About Aye Finance Ltd

Our Company was incorporated on August 12, 1993, as a private limited company under the Companies Act 1956, under the name `Doda Finance Private Limited', at Jalandhar, Punjab pursuant to a certificate of incorporation issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh. The name of our Company was changed to `Aye Finance Private Limited' pursuant to resolutions dated February 17, 2014 and March 15, 2014, passed by our Board and our Shareholders respectively, and a fresh certificate of incorporation dated March 28, 2014, was issued to our Company by the Registrar of Companies, Punjab and Chandigarh consequent to the change of name. Subsequent to a change in our registered office from the state of Punjab to the National Capital Territory of Delhi pursuant to resolutions dated July 22, 2014 and August 18, 2014 passed by our Board and our Shareholders, respectively, and a fresh certificate of registration dated August 10, 2015, was issued by the Registrar of Companies, Delhi and Haryana at New Delhi (RoC). Upon the conversion of our Company to a public limited company, pursuant to resolutions dated October 16, 2024 and October 17, 2024 passed by our Board and our Shareholders respectively, the name of our Company was changed to Aye Finance Limited. A fresh certificate of incorporation dated December 10, 2024 was issued by the RoC consequent to our Company's conversion into a public limited company.

MSMEs in India face a substantial unmet credit estimated at Rs. 103.00 trillion as of Fiscal 2025. 98% of these MSMEs are micro enterprises, and as of Fiscal 2025, the total addressable credit demand is estimated at approximately Rs. 76 trillion, out of which current formal financing stands at approximately Rs.42 trillion taking the total addressable MSME credit gap to around Rs. 34 trillion. The share of NBFCs has increased from 9.2% in Fiscal 2019 to 16.6% in Fiscal 2025, and going forward, this share is expected to rise further as NBFCs have been intensifying their focus in this segment. The graph below represents the growth of the share of NBFCs in the MSME credit sector.

We are a non-banking financial company-middle layer (NBFC ML) focused on providing loans to micro scale MSMEs across India for their working capital and business expansion needs. We have been granted a certificate of registration dated November 27, 2015 by the Reserve Bank of India for registration as a non-banking financial company without accepting public deposits under Section 45-IA of the Reserve Bank of India Act, 1943. We offer small-ticket business loans with an average ticket size on disbursement of Rs. 0.18 million to customers across manufacturing, trading, service and allied agriculture sectors. We are among the leading NBFCs providing business loans to the largely undeserved micro scale enterprises in India, with 586,825 active unique customers and with assets under management (AUM) of Rs. 60,276.22 million, as of September 30, 2025 (Source: CRISIL Report). As of September 30, 2025, we served our customers through a pan-India network of 568 branches. Our product offerings comprise mortgage loans, `Saral' Property Loans, secured hypothecation loans and unsecured hypothecation loans. Our target customers are micro scale business with annual turnovers ranging from Rs. 2.00 million to Rs. 10.00 million, predominantly located in semi-urban areas.

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