Company Overview - Aye Finance

Key Highlights

• Aye Finance was founded in 2014 and focuses on lending to underserved micro and small businesses across India.
• It has disbursed over ₹10,000 crore in loans and serves more than 2 lakh customers through around 478 branches in 21 states.
• As of FY 2025, the company reported ₹4,950.21 crore in AUM, revenue of ₹1,504.99 crore, and a net NPA of 1.40%.
• It uses a cluster-based underwriting model and advanced tech like AI/ML to lend to businesses without formal documentation.
• Backed by investors like Capital G and Elevation Capital, it maintains a CRAR of 34.92%

Overview

Aye Finance is a new age financing company engaged in lending to Micro and Small businesses, the missing middle. The company commenced operations in 2014 setting up its first branch in New Delhi. Aye finance offers Hypothecation loans, Quasi Mortgage and Mortgage loans to MSMEs. They work on an industry cluster based underwriting approach. The company lends to micro enterprises, largely in the manufacturing, trading, dairy (livestock) and services segments, with modest credit profiles for their working capital requirements. However, the company mainly focuses on the trading, and agriculture and livestock categories. Aye’s product portfolio has two large segments – hypothecation loans and quasi-mortgage loans.

Management

Sanjay Sharma (Managing Director and CEO)

He started his career in Banking and Financial services with the Hongkong and Shanghai Banking Corporation Limited in 1988. He was associated with Standard Chartered Bank, both in India and UAE and later served as a Vice President in HDFC Bank heading the direct banking business. He was part of the leadership team in the Personal Financial Services division of ICICI Limited responsible for launching all retail asset products including automobile finance, home finance, consumer durables finance, and personal loans. He also served as Senior Vice President – Customer Operations & Service Delivery at Max New York Life Insurance Company Limited. Prior to being associated with Aye Finance, he served as the CEO of Tamweel International, a division of Tamweel PJSC, a UAE based mortgage finance company. He is an alumnus of IIT-Bombay and IIM-Bangalore.

Niraj Kumar Kaushik (Deputy Chief Executive Officer)

Niraj is responsible for the business growth of the company along with ensuring superlative portfolio quality. He manages Distribution and Collections functions across India. He has over 25 years of exceptional track record in managing Credit & Risk, Risk Analytics, Sales and Distribution functions in Banking and Financial Services Industry. He was EVP – Head of Central Underwriting and Risk Intelligence Unit for secured, unsecured and short-term trade finance for SME at Religare Finvest Ltd before joining Aye. Prior to that he has worked in organizations such as Larsen & Toubro, ICICI, ABN Amro Bank and later RBS. Niraj is an alumnus of IMT Ghaziabad and is an engineer from REC, Jaipur.

Ujual George (Chief Operating Officer)

Ujual is responsible for driving operational transformation focusing on sustainable growth and leveraging technology effectively. He oversees diverse business operations of the organization spanning Risk, Information Technology, Human Resources and Business Excellence. He was earlier with RBL Bank, where he served on the Management Committee and led the transformation agenda of the bank. He has been associated with leading financial services institutions like Barclays Bank, Abu Dhabi Commercial Bank, ICICI and HSBC in various leadership roles. Ujual is an alumnus of Indian Institute of Management Bangalore and holds a BSc in Physics.

Key Financials- FY25:

All figures in INR crore

Lenders

The prominent lenders in Aye Finance are:

 Debt:

·       ICICI Bank

·       Axis Bank

·       Federal Bank

·       IDFC Bank

·       DCB Bank

·       Netherlands Development Finance

·       Blue Orchad

·       JM Financial

Equity:

·       Elevation Capital V Limited

·       Maj Invest Financial

·       British International Investment

Explore corporate bonds below for Aye Finance

Above mentioned corporate bond details are as of Date: 20.08.2025.

Disclaimer:

Investments in debt securities/municipal debt securities/securitized debt instruments are subject to risks including delay and/or default in payment. Read all the offer-related documents carefully.