Alphabet-backed Aye Finance appoints bankers for Rs 2,000-crore IPO

• SME-focused non-banking finance company Aye Finance has roped in four arrangers for its upcoming initial public offering.
• The company aims to raise Rs 1,700–2,000 crore of capital through the issuance and is targeting going public in the next 9–12 months.
• Axis Capital, JM Financial, Nuvama, and IIFL Securities have been mandated to handle the IPO as merchant bankers.
• A formal filing for the IPO is expected in the next 1–2 months, according to sources.
• In December last year, Aye Finance raised Rs 310 crore as part of a Series-F round from British International Investment and other existing investors, appreciating its valuation by 30 percent.

Source: Moneycontrol