Latest news with #AyeFinance
Business Standard
08-07-2025
- Business
- Business Standard
Aye Finance Ranked 3rd in India's Best Companies to Work 2025 by GPTW
NewsVoir Gurugram (Haryana) [India], July 8: Aye Finance, MSME lender providing working capital and business expansion needs to the micro enterprises in India has been ranked 3rd amongst the top 100 Best Companies to Work 2025, by Great Place to Work Institute, a globally recognised authority in creating, assessing, and identifying the best workplaces. Aye Finance has secured the 3rd position (across all industries) in the top 100 Best Places to Work for in India. This recognition is a result of an evaluation process that surveyed nearly 1,900 organisations across various industries in India. [This ranking has been secured after a detailed study, which is conducted in two parts - employee survey and people practices assessment. Aye Finance excelled on all 5 dimensions essential for building a 'high-trust, high-performance' culture, i.e. Fairness, Respect, Credibility, Pride and Camaraderie. Commenting on the milestone, Mr Sanjay Sharma, Managing Director, Aye Finance, said, "We are proud to be ranked 3rd in the Great Companies to Work for the year 2025, by GPTW. Years of consistent focus on trying to build a positive employee work environment has earned us this recognition. At Aye, we try to treat each employee with respect by actively encouraging their professional growth and building pride in serving customers who have been excluded from organised finance. The Great Place to Work certification validates our efforts to try and build an organisation for our 9000 plus employees." Great Place To Work® is the global authority on workplace culture and its methodology, derived from years of studying the best workplaces across the globe, is recognised as rigorous and objective, and considered the gold standard for defining great workplaces across business, academia, and government organisations. Aye is a small-ticket lender in MSME lending landscape, providing working capital loans to micro-enterprises and to customers across manufacturing, trading, service and allied agriculture sectors. Our product offerings comprise mortgage loans, 'Saral' Property Loans, secured hypothecation loans and unsecured hypothecation loans. Our underwriting capability is a key competitive advantage that aids in assessing creditworthiness of our customers. Disclaimer Aye Finance (Private) Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed a draft red herring prospectus dated 16 December 2024 ("DRHP") with the Securities and Exchange Board of India ("SEBI")is available on the website of SEBI at the Company at
The Wire
08-07-2025
- Business
- The Wire
Aye Finance Ranked 3rd in India's Best Companies to Work 2025 by GPTW
Gurugram, Haryana, India (NewsVoir) Aye Finance, MSME lender providing working capital and business expansion needs to the micro enterprises in India has been ranked 3rd amongst the top 100 Best Companies to Work 2025, by Great Place to Work Institute, a globally recognised authority in creating, assessing, and identifying the best workplaces. Aye Finance has secured the 3rd position (across all industries) in the top 100 Best Places to Work for in India. This recognition is a result of an evaluation process that surveyed nearly 1,900 organisations across various industries in India. [This ranking has been secured after a detailed study, which is conducted in two parts - employee survey and people practices assessment. Aye Finance excelled on all 5 dimensions essential for building a 'high-trust, high-performance' culture, i.e. Fairness, Respect, Credibility, Pride and Camaraderie. Commenting on the milestone, Mr Sanjay Sharma, Managing Director, Aye Finance, said, 'We are proud to be ranked 3rd in the Great Companies to Work for the year 2025, by GPTW. Years of consistent focus on trying to build a positive employee work environment has earned us this recognition. At Aye, we try to treat each employee with respect by actively encouraging their professional growth and building pride in serving customers who have been excluded from organised finance. The Great Place to Work certification validates our efforts to try and build an organisation for our 9000 plus employees.' Great Place To Work® is the global authority on workplace culture and its methodology, derived from years of studying the best workplaces across the globe, is recognised as rigorous and objective, and considered the gold standard for defining great workplaces across business, academia, and government organisations. Aye is a small-ticket lender in MSME lending landscape, providing working capital loans to micro-enterprises and to customers across manufacturing, trading, service and allied agriculture sectors. Our product offerings comprise mortgage loans, 'Saral' Property Loans, secured hypothecation loans and unsecured hypothecation loans. Our underwriting capability is a key competitive advantage that aids in assessing creditworthiness of our customers. Disclaimer Aye Finance (Private) Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed a draft red herring prospectus dated 16 December 2024 ('DRHP') with the Securities and Exchange Board of India ('SEBI')is available on the website of SEBI at the Company at (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.).
Fashion Value Chain
07-07-2025
- Business
- Fashion Value Chain
Aye Finance Ranked 3rd in India's Best Companies to Work 2025 by GPTW
Aye Finance, MSME lender providing working capital and business expansion needs to the micro enterprises in India has been ranked 3rd amongst the top 100 Best Companies to Work 2025, by Great Place to Work Institute, a globally recognised authority in creating, assessing, and identifying the best workplaces. Sanjay Sharma, MD; Krishan Gopal, CFO; and Ankur Sharma, Head – HR; receiving the Great Place to Work certification on behalf of Aye Finance Aye Finance has secured the 3rd position (across all industries) in the top 100 Best Places to Work for in India. This recognition is a result of an evaluation process that surveyed nearly 1,900 organisations across various industries in India. [This ranking has been secured after a detailed study, which is conducted in two parts – employee survey and people practices assessment. Aye Finance excelled on all 5 dimensions essential for building a 'high-trust, high-performance' culture, i.e. Fairness, Respect, Credibility, Pride and Camaraderie. Commenting on the milestone, Mr Sanjay Sharma, Managing Director, Aye Finance, said, 'We are proud to be ranked 3rd in the Great Companies to Work for the year 2025, by GPTW. Years of consistent focus on trying to build a positive employee work environment has earned us this recognition. At Aye, we try to treat each employee with respect by actively encouraging their professional growth and building pride in serving customers who have been excluded from organised finance. The Great Place to Work certification validates our efforts to try and build an organisation for our 9000 plus employees.' Great Place To Work is the global authority on workplace culture and its methodology, derived from years of studying the best workplaces across the globe, is recognised as rigorous and objective, and considered the gold standard for defining great workplaces across business, academia, and government organisations. Aye is a small-ticket lender in MSME lending landscape, providing working capital loans to micro-enterprises and to customers across manufacturing, trading, service and allied agriculture sectors. Our product offerings comprise mortgage loans, 'Saral' Property Loans, secured hypothecation loans and unsecured hypothecation loans. Our underwriting capability is a key competitive advantage that aids in assessing creditworthiness of our customers. Disclaimer Aye Finance (Private) Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares and has filed a draft red herring prospectus dated 16 December 2024 ('DRHP') with the Securities and Exchange Board of India ('SEBI')is available on the website of SEBI at the Company at
Mint
27-05-2025
- Business
- Mint
Why two NBFCs are requesting easing of bond covenants
Two non-bank financiers lending to small businesses have separately approached their bondholders, seeking relaxations on covenants that were part of their original agreements to raise funds. Ugro Capital and Aye Finance raised bonds worth ₹49.28 crore and ₹50 crore, in 2022 and 2024, respectively. The lenders have now requested bondholders to waive certain covenants, and the respective bond trustees have conveyed them to the investors. In finance, covenants are part of agreements that prescribe certain dos and don'ts for issuers of these debt securities. A breach allows bondholders to seek additional interest, among other things. Also Read | Aye Finance, Bluestone Jewellery and GK Energy get SEBI nod to launch IPOs While Ugro Capital has breached its covenant around maintenance of capital to risk weighted assets ratio (CRAR) or capital adequacy ratio, Aye Finance believes it could breach the ceiling on stressed assets. Mint has seen a screenshot of the email detailing Ugro's request, and the text of the email sent on Aye Finance's request. Ugro has assets under management of ₹12,003 core as on 31 March, whereas Aye Finance has assets of ₹4,975 crore as on 30 September (latest available). IDBI Trusteeship Services informed holders of Ugro's bonds maturing in September 2025 that the lender has breached the covenant that it has to maintain a capital adequacy of 20%. In the March quarter, that dropped to 19.41%. Also Read | Stock market gets a warning from bonds and the dollar. Tariff turmoil isn't over 'Request of the company for relaxation of the covenant is presently under process," it wrote to bondholders in an email titled 'Notice for breach of covenants and intimation of the meeting of debenture holders. Ugro informed IDBI Trusteeship on 8 May that Reserve Bank of India (RBI) mandates non-bank lenders to maintain a capital adequacy of at least 15% and the company's capital levels were higher, at 19.41%. 'However, it is just marginally below the contractually agreed CRAR of 20%. As such, CRAR of 19.41% demonstrates a sound capital base and financial health of the company," it said in a statement available on the website of IDBI Trusteeship. Also Read | Indian equities, bonds, currency show resilience amid Trump's tariff tantrum 'We would like to state that in September 2022 when (the) debentures…were issued, the company was in its growth phase and it had agreed to high CRAR of 20%. You are requested to note that for most of the subsequent public as well as private NCD issuances of the company, the company has agreed to a covenant to maintain CRAR of 15% only i.e. minimum CRAR stipulated by RBI," it said. A spokesperson for the lender said in an emailed statement that the company has total borrowing of ₹6,900 crore as of 31 March. 'The bonds referred (to) by you are old bonds with small outstanding of ₹49.28 crore, as per the terms of trust deed, Ugro has requested for the capital adequacy covenant to be relaxed for which the trustee has written to bondholders," the spokesperson said. On 20 May, Ugro said it will raise up to ₹1,315 crore, in a mix of preferential issue of shares and a rights issue. The spokesperson said the proposed capital injection would increase its capital adequacy from 19.4% at present to 29.4%. Meanwhile, Aye Finance—backed by Elevation Capital and Capital G—has preemptively asked for a relaxation. In December, it filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) to raise ₹1,450 crore in an initial public offering (IPO). As per the bond agreement, Aye Finance is supposed to contain its gross bad loans and write-offs during the past 12 months as a percentage of its total loan book at 8%. According to an email by Catalyst Trusteeship Ltd to bondholders on 15 April, Aye Finance believes that while the ratio mentioned above stands at 6.82% in December, it could exceed the 8% cap in the coming quarter. This is on account of 'increase in write-offs resulting from overall economic/business cycle". "In December 2024, we had proactively advised Catalyst's trusteeship on appx (approximately) 4% of our borrowings through NCDs under their trusteeship, of possibly exceeding the covenanted delinquency ratio," Krishan Gopal, chief financial officer, Aye Finance said in response to an emailed query. 'This reflects our commitment to protect the investments of our bondholders irrespective of the amount invested. Such events are not uncommon in the financial industry," said Gopal, adding that the lender has had no recall of any loan or borrowing on account of breach of covenant, and the company continues to maintain good liquidity positions. He said the company is witnessing a reduction in business stress, and expects normal business conditions as it progresses through this year. Experts said that stress in certain asset classes was leading to covenant breaches among bond issuers. 'Over the past couple of quarters, due to stress in certain asset classes like microfinance, MSME finance, we have seen covenants getting breached for a few issuers, especially those with respect to asset quality," said Anshul Gupta, co-founder of online bond platform Wint Wealth. However, Gupta said that a covenant breach does not necessarily mean that an entity is under significant stress or default is imminent, and investors should assess how significant the breach is and what is the impact on the entity's repayment capabilities. 'If the entity's repayment capabilities aren't impacted, generally, waivers are given. Trustees acting on majority investor directions can either waive or enforce the covenants," said Gupta.
Business Standard
22-05-2025
- Business
- Business Standard
Aye Finance standalone net profit rises 14.13% in the March 2025 quarter
Sales rise 34.24% to Rs 409.14 crore Net profit of Aye Finance rose 14.13% to Rs 40.70 crore in the quarter ended March 2025 as against Rs 35.66 crore during the previous quarter ended March 2024. Sales rose 34.24% to Rs 409.14 crore in the quarter ended March 2025 as against Rs 304.78 crore during the previous quarter ended March 2024. For the full year,net profit rose 6.29% to Rs 171.27 crore in the year ended March 2025 as against Rs 161.13 crore during the previous year ended March 2024. Sales rose 40.33% to Rs 1459.73 crore in the year ended March 2025 as against Rs 1040.22 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 409.14304.78 34 1459.731040.22 40 OPM % 41.3744.53 - 45.8951.66 - PBDT 56.7757.73 -2 247.17242.40 2 PBT 50.4553.43 -6 225.01227.86 -1 NP 40.7035.66 14 171.27161.13 6
