Finance
Aye Finance expects 55% growth in AUM this year, eyes IPO in FY26
New Delhi: Aye Finance, a fintech startup, expects its assets under management (AUM) to escalate to ₹4,200 crore by the end of this year, with an anticipated growth to ₹5,500 crore by the end of fiscal year 2024-25 (FY25). This growth trajectory will help set the stage for the company to consider an initial public offering (IPO), said Sanjay Sharma, the company’s founder and managing director.
“We will look at it (IPO) not in the next financial year, but the year after that. So we’re talking about FY26, where we will definitely look at plans where we could come out with an IPO,” he said.
The Gurgaon-based firm has seen a rapid expansion in its portfolio from ₹2,700 crore at the beginning of the year to approximately ₹3,900 crore, projecting to close FY24 with a 55% growth in AUM at ₹4,200 crore.
Sharma said that heeding the Reserve Bank of India’s warnings about the economy overheating, Aye Finance has focussed on cautious, selective funding and maintained a healthy 50% annualized growth rate.
The company clocked a net profit of ₹125 crore during the April-December period, and expects a full-year profit of close to ₹160 crore. Revenue for the same period stood at ₹751 crore.
In FY23, revenue from operations rose 44.5% on year to ₹623 crore, with net profit at ₹54 crore.
“We have been consistently delivering almost 19-20% return on equity (RoE) through the year and I think at the end of the year, we’ll also demonstrate a delivery of around 19-20% RoE,” said Sharma.
Serving over 800,000 micro enterprises since its inception, the company has disbursed 275,000 new loans this year, maintaining an active customer base of around 400,000.
With total funding of $135 million, the latest being $37.18 million led by British International Investment, Aye Finance continues to support small and micro enterprises across India.
Sharma noted a 10-15% year-on-year increase in the average loan size, both mortgage-based loans and unsecured, for FY24, indicating a growing demand for larger loans for business expansion.
“Our typical loan size is about ₹100,000 to ₹200,000, which typically suffices as a working capital loan. Sometimes customers do look at ₹300,000-500,000 sort of loans or higher for setting up some new business or expanding their business,” he said adding that, this year loans which are in the ₹300,000-500,000 range have been higher than in FY23.
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Published: 14 Feb 2024, 06:08 PM IST
Regions Financial Corp. has completed its acquisition of Montgomery-based investment banking firm The Frazer Lanier Company, expanding its municipal finance and corporate investment banking services.
The Birmingham-based financial company announced Thursday that the acquisition has officially closed. Founded in 1976, Frazer Lanier provides investment banking services specializing in municipal and corporate securities and has served corporations, cities, counties and local boards throughout its history.
According to Regions, the acquisition is intended to strengthen the bank’s capital markets capabilities while enhancing services for public sector and institutional clients across its multi-state footprint.
Frazer Lanier has built its business by serving as an underwriter or placement agent for tax-exempt and taxable bonds, helping public entities and organizations access financing.
“Two of our top priorities at Regions Bank are strategically expanding our services and investing in top-tier banking talent,” John Turner, chairman, president and CEO of Regions Financial Corp., said in a news release. “By welcoming experienced bankers from Frazer Lanier to the Regions family, we are connecting Regions’ clients with even greater capabilities while advancing our long-term strategy for growth.”
As part of the acquisition, Frazer Lanier will be integrated into Regions Bank’s Capital Markets division within the company’s Corporate Banking group.
Brian Willman, head of Corporate Banking for Regions, said the two organizations share a similar approach to serving clients.
“Frazer Lanier has built trust by staying close to clients and helping them navigate important decisions,” Willman said. “Together, we can expand that model by bringing more ideas, more capabilities and more connectivity to clients across our markets.”
Regions said the acquisition will expand its municipal finance and investment banking capabilities, strengthen its services for cities, counties and other public entities, and provide clients with broader access to financing and capital markets solutions.
Financial terms of the acquisition were not disclosed.
MOBILE, Ala. (WALA) – A Mobile County grand jury has indicted the former finance director for the city of Semmes on ethics and theft charges.
Heather Renee Davis, who also previously served as city clerk for the city of Satsuma, faces a 12-count indictment. Ten of the counts are ethics violations.
Allegations
Prosecutors allege Davis improperly used her public positions in Semmes and Satsuma for personal gain, including misappropriating public money and resources.
Two counts accuse her of first-degree theft by deception involving amounts over $2,500. One count is tied to the city of Semmes and one to the city of Satsuma.
Arrest and bond
Jail records show Davis was arrested and later released after posting a $60,000 bond.
Copyright 2026 WALA. All rights reserved.
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