Alpha Wave Global has sold its entire 7.78% stake in Aye Finance for ₹322 crore through block deals. Despite the large supply influx, the stock rose on Friday as new institutional investors like Millennium Management and Singularity AMC purchased the shares.
Alpha Wave Global, the alternative asset manager, has fully divested its 7.78% equity stake in Gurugram-based lender Aye Finance. The exit was completed on August 27, 2026, through two block deals on the Bombay Stock Exchange. The transaction saw over 1.91 million shares change hands at a price range between ₹168.02 and ₹168.19, totaling approximately ₹322 crore.
Following the sale, the stock displayed resilience, signaling strong investor appetite for the micro-enterprise lender. On Friday, the share price climbed 1.95% to settle at ₹185.15 on the Bombay Stock Exchange. This positive reaction suggests that the market was prepared for the institutional shuffle, as new investors quickly absorbed the equity offered by the exiting private equity firm.
Notable institutional buyers stepped in to acquire the stake. US-based Millennium Management, through its Integrated Core Strategies (Asia) arm, purchased 2.38 million shares, while Singularity AMC, led by Madhusudan Kela, added 1.48 million shares to its portfolio. The ability of such funds to step in during a large stake sale is often viewed by market observers as a sign of confidence in the company’s current business trajectory.
Aye Finance, which focuses on providing loans to micro-enterprises, has been in a growth phase since its public listing in February 2026 at an IPO price of ₹129. The company recently reported a 144% year-on-year jump in net profit, reaching ₹75 crore for the quarter ended June 2026. This, combined with a 22% increase in total income, has helped the stock maintain a premium over its initial public offering price.
However, investors may monitor certain risks associated with the sector and the company. As an NBFC serving the micro-enterprise segment, Aye Finance is susceptible to credit risks, especially if economic conditions impact the repayment capacity of smaller businesses. Additionally, the regulatory environment for non-banking financial companies remains a dynamic factor that can influence interest margins and operational costs. While the recent divestment did not create a supply overhang, the company’s future valuation will likely depend on its ability to maintain profit margins and navigate interest rate fluctuations in the broader Indian credit market. The next key monitorable will be the company’s ability to sustain this profit growth in the upcoming quarterly results.