Aye Finance IPO vs Fractal Analytics IPO: 2 Issues Open On Feb 9; Compare GMP, Price Band & Which To Chose

The market will open tomorrow with some action in the Mainboard IPO segment as the Aye Finance IPO and Fractal Analytics IPO will be launched for bidding on February 9.

Investors now have two different sectors to explore, which are the NBFC and analytics space. Both issues close on February 11 and are scheduled to list on BSE and NSE on February 16. Here is the comparison of GMP, Price Band & investment details.

Aye Finance IPO details, price band, and GMP trend

Aye Finance IPO is worth Rs. 1,010 crore, comprising a fresh issue of Rs. 710 crore and an offer for sale of Rs. 300 crore. The price band for the Aye Finance IPO is set at Rs. 122 to 129 per share, and the minimum retail investment stands at Rs. 14,964 for one lot of 116 shares.

If we look at the current GMP trends, as of February 8, the Aye Finance IPO GMP is Rs. 0, indicating flat listing expectations around the upper price band of Rs. 129. However, the grey market sentiment may change once the issue opens tomorrow

Fractal Analytics IPO details, price band, and GMP Trend

Fractal Analytics is nearly three times larger than Aye Finance with a total issue size of Rs. 2,833.9 crore, including a fresh issue of Rs. 1,023.5 crore and an offer for sale of Rs. 1,810.4 crore.

The price band for this one is Rs. 857-900 per share, while the minimum retail investment is Rs. 14,400 for one lot of 16 shares,

The latest Fractal Analytics IPO GMP is Rs. 29, implying a possible listing price near Rs. 929 and an expected gain of about 3.22%.

This positive grey market premium signals moderate investor interest and potential listing upside compared with Aye Finance.

Aye Finance vs Fractal Analytics: Comparison for investors

Aye Finance operates in the NBFC lending space, typically valued on asset quality, growth, and credit demand while Fractal Analytics represents the data analytics and AI-led services sector, often attracting premium valuations due to digital growth themes.

Both IPOs require roughly Rs. 14,000 to 15,000, making them equally accessible to small investors.

Capital Market, in its IPO note, has assigned a 'Avoid' rating to the IPO citing "high risk, high return" to the Aye Finance IPO. The brokerage firm noted concerns over rising NPAs, elevated provisioning, and exposure to credit-thin micro-MSME borrowers despite strong AUM growth, diversified geographic presence, and long-term opportunity in India's underpenetrated MSME lending segment.

Meanwhile, Kantilal Chhaganlal Securities Pvt. Ltd., in its IPO note on the Fractal Analytics IPO gave a 'Subscribe' rating to the IPO mentioning the company's strong presence across four focus industries

"At the upper price band of Rs. 900, the issue is valued at about 78.9× FY25 post-issue P/E, with no directly comparable listed peers globally for its pure-play decision intelligence and AI-led business model." the report said.

Positioning Fractal as India's first pure-play AI company to list, combining AI services with incubated SaaS products such as Fractal Alpha, the firm has assigned a 'Subscribe' rating for long-term, high-risk growth-focused investors with a 3-5 year investment horizon.

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