The shares of Fractal Analytics and Aye Finance are set to debut on the bourses on Monday, February 16. The initial public offering (IPO) of Fractal Analytics received a moderate response from investors during the three-day subscription period. According to the NSE data, the Rs 2,834 crore IPO received bids for 4,94,79,888 shares against 1,85,79,360 shares on offer. On the other hand, Aye Finance received muted demand. The public issue received bids for 4,42,21,288 shares against 4,55,32,785 shares on offer, according to the NSE data. The Rs 1,010-crore IPO comprises a fresh issue of equity shares worth up to Rs 710 crore and an offer for sale (OFS) of up to Rs 300 crore by current shareholders.
The company proposes to utilise the net proceeds from the fresh issue to strengthen its capital base, supporting future capital requirements arising from the expansion of its business and asset base. Classified as a middle-layer NBFC, Aye Finance focuses on lending to micro and small enterprises (MSEs), a segment that remains largely underserved by traditional banks.
