New Delhi, June 24, 2026: Aye Finance, India’s leading technology-driven lender focused on the micro enterprise sector, announced that India Ratings and Research (Ind-Ra) has upgraded its rating from ‘IND A’ to ‘IND A+’ with a Stable Outlook. The upgraded rating will help Aye Finance further diversify its funding sources and lower its cost of borrowing.
Aye’s long-term debt instruments’ rating was also upgraded to ‘IND A+’ with a Stable Outlook from ‘IND A’, and its commercial paper (CP) rating has been upgraded to ‘IND A1+’ from ‘IND A1’.
Ind-Ra’s rating action highlights Aye Finance’s strong fundamental performance across several critical financial and operational metrics
- Strengthened loan book through focused expansion of mortgage product
- Improved capitalisation that provides headroom for further scaling of the franchise
- Improving profitability with a rise in scale to drive operating leverage benefits
- Improving funding diversification
- Established information technology systems and processes
- Cash surplus in all-time buckets and reasonable liquidity to overcome a stress situation.
Mr Sanjay Sharma, Managing Director of Aye Finance, commented on the development, “Aye has created a differentiated platform focused on serving India’s micro enterprises, a segment that is central to the country’s economic progress. This rating reflects the strength of our business franchise, our technology and analytics-driven approach, and the dedication of our team. It reinforces our commitment to expanding financial inclusion and supporting the growth and formalization of micro businesses across India.”
Aye Finance has been solving the credit challenges of the 60 million micro enterprises in India since 2014 and dominates this segment with 6.5 lacs active customers and a Pan-India operational presence across 18 States and 3 Union Territories. The lender ended the fiscal year 2026 with strong numbers, reporting an AUM of INR 7044 crores on 31 March 2026.
About Aye Finance Ltd
Aye Finance is a non-banking financial company – middle layer (“NBFC-ML”) focused on providing loans to micro-scale MSMEs across India. Aye offers a range of business loans for working capital and business expansion needs, against hypothecation of working assets or against security of property to customers across manufacturing, trading, service and allied agriculture sectors. Aye is among the leading nonbanking financial companies providing business loans to the largely underserved micro-scale enterprises in India, across 18 states and 3 union territories. Aye offers small-ticket hypothecation loans (Average ticket INR 1.5 lakhs) as well as mortgage-based loans (Average Ticket INR 5 lakhs) for businesses. The Company’s expertise in using customised data science approaches in underwriting business cash flows of a variety of business clusters has enabled it to maintain stable credit costs and to profitably scale up its operations.
