Debt financing
NBFC Aye Finance secures Rs.110-Cr through NCDs ahead of IPO
Gurugram-headquartered non-banking financial company (NBFC) Aye Finance has secured INR 110 crore debt. It would issue 1,000 non-convertible debentures (NCDs) with a face value of INR 1 lakh each in two tranches to investors to raise the sum.Aye Finance filed its draft red herring prospectus (DRHP) to raise an INR 1,450 crore initial public offering (IPO), last month. The company's initial share sale will be a combination of a fresh issue of equity shares worth INR 885 crore and an offer-for-sale (OFS) amounting to INR 565 crore by existing shareholders.
Between Apr 2014 and Sep 2024, Aye Finance had raised about USD 379 M in a mix of debt and equity from Elevation Capital, Lightrock India, Alpha Wave Global, A91 Partners, British International Investment, FMO, responsAbility, Northern Arc Capital and others.
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