Alpha Wave exits Aye Finance in ₹323 Cr bulk deal
What's the deal? Alpha Wave has sold its entire remaining stake in MSME-focused NBFC Aye Finance, offloading roughly 1.92 Cr shares — a 7.56% holding — via bulk deals on the BSE. The global investment firm raked in about ₹322.6 Cr from the sale.
The details: Alpha Wave India I sold two tranches of 95.94 Lakh shares each, at weighted average prices of ₹168.19 and ₹168.02 apiece. Buyers included Integrated Core Strategies (Asia)Dealroom has a profile for this one. Try Dealroom →, an associate of Millennium ManagementDealroom has a profile for this one. Try Dealroom →, and Singularity AMC's Singularity Large Value Fund IIIDealroom has a profile for this one. Try Dealroom →.
How Aye Finance is doing: The Gurugram-based lender's net profit jumped 144% year-on-year to ₹74.5 Cr in Q1 FY27, while operating revenue rose 18%. Sequentially, however, profit and revenue fell 13.3% and 7.3% respectively.
The company reported ₹7,324 Cr in assets under management, a net worth of ₹2,528 Cr, and a capital adequacy ratio of 42.38% during the quarter.
The stock: Aye Finance's IPO was undersubscribed and listed flat at its issue price of ₹129 in February. The stock has since gained nearly 42%, closing today's session 2.89% higher at ₹181.60.
Why now? Alpha Wave held an 11.2% stake at listing and had already trimmed it during the IPO, selling 23.25 Lakh shares worth ₹30 Cr for a 1.4X gain on its initial investment. Today's sale marks its full exit.
The bigger picture: The move adds to a run of exits by Alpha Wave. It recently exited logistics firm Delhivery, selling 72.2 Lakh shares for about ₹665 Cr, and is reportedly looking to sell over 2 Cr shares of Lenskart for around ₹1,313 Cr.
Separately, boutique advisory firm F3 AdvisorsDealroom has a profile for this one. Try Dealroom → sold 74,505 Aye Finance shares at ₹173.88 apiece while buying 14.6 Lakh shares at the lower price of ₹169.23.
The signal: Alpha Wave's steady unwinding of Indian public holdings — Aye Finance, Delhivery, and Lenskart — points to a broader recycling of capital as lock-in periods lapse and portfolio companies mature on the bourses.
Image credit: Ken Lund
