Aye Finance Greenlights INR 1,450 Cr IPO

• Aye Finance's board approved raising INR 1,450 Cr through IPO with a split of fresh shares worth INR 885 Cr and OFS of INR 565 Cr. • The company's EGM saw significant board changes, with five non-executive directors stepping down. • Founded in 2014, Aye Finance leverages AI to offer loans to small businesses and has recently seen a surge in profitability and revenue.

Source: Inc42