Gaja Alternative Asset Management IPO Opens Today: Check Price Band, GMP, Lot Size And Latest Subscription Status

Gaja Alternative Asset Management’s initial public offering (IPO) opened for subscription on August 19 and will remain open till August 21. The company is looking to raise Rs 550 crore through the public issue, which comprises a fresh issue of shares worth Rs 450 crore and an offer for sale (OFS) of shares worth Rs 100 crore.

The IPO has a price band of Rs 152-160 per share. At the upper end of the price band, the issue values the company at around Rs 2,256 crore based on its post-issue share capital.

The IPO includes 28.13 million new shares and an OFS of 6.25 million existing shares.

The shares are proposed to be listed on both the NSE and BSE, with the listing expected on August 26.

Gaja Alternative Asset Management IPO: Key Details

The minimum lot size is 93 shares. Retail investors will need to invest at least Rs 14,880 to subscribe to one lot at the upper end of the price band.

Of the net issue, not more than 50 per cent has been reserved for qualified institutional buyers (QIBs), while at least 35 per cent has been reserved for retail investors. Non-institutional investors (NIIs) will get at least 15 per cent of the net issue.

JM Financial is the book-running lead manager for the issue, while MUFG Intime India is the registrar.

The basis of allotment is expected to be finalised on August 24. Shares are likely to be credited to successful bidders' demat accounts on August 25, with refunds also scheduled for the same day.

Where Will Gaja Alternative Asset Management Use IPO Proceeds

Gaja Alternative Asset Management plans to use Rs 372 crore of the net proceeds towards sponsor commitments to existing and proposed funds and repayment of a bridge loan.

This includes investments towards the balance sponsor commitment to Gaja Capital India Fund 2020 LLP and Gaja Capital India Fund 2020, as well as commitments to the proposed Fund V and the Secondaries Fund.

The company had committed around Rs 274 crore as sponsor commitment as of March 31, 2026, representing 6.41 per cent of the total size of the Gaja Capital Funds.

The remaining proceeds will be used for general corporate purposes.

What Does Gaja Alternative Asset Management Do

Gaja Alternative Asset Management is an alternative asset management company that manages and advises India-focused funds, including Category I and Category II alternative investment funds (AIFs) and offshore funds.

The company focuses on sectors such as education, energy and environment, financial services, consumer and digital technology. Its investment strategy is largely focused on the mid-market segment.

Gaja Capital Funds, including Fund II, Fund III and Fund IV, form a key part of its business. The company has relationships with investors across more than 20 countries.

As of March 31, 2026, the company had 37 personnel, including 23 permanent employees and 14 contractual employees.

Gaja Alternative Asset Management Financials

Gaja Alternative Asset Management’s total income rose 28 per cent to Rs 157.80 crore in FY26 from Rs 123.31 crore in FY25. It was Rs 103.96 crore in FY24.

The company’s profit after tax rose 32 per cent to Rs 81.96 crore in FY26, as against Rs 61.95 crore in FY25 and Rs 44.74 crore in FY24.

Earnings before interest, tax, depreciation, and amortisation (Ebitda) also increased to Rs 72.05 crore in FY26 from Rs 60.81 crore in FY25 and Rs 49.25 crore in FY24.

The company’s net worth stood at Rs 606.52 crore as of March 31, 2026, compared with Rs 388.97 crore in FY25 and Rs 331.88 crore in FY24.

Gaja Alternative Asset Management IPO Subscription Status

The IPO was subscribed 0.08 times within the first few hours of bidding on August 19, according to exchange data.

The retail portion was subscribed 0.11 times, while the NII portion was subscribed 0.10 times. The QIB portion had received bids for 1,302 shares at the time of the latest update.

Overall, investors had bid for 1.87 million shares against 24.06 million shares on offer, with 12,823 applications received so far.

Gaja Alternative Asset Management IPO GMP Today

Gaja Alternative Asset Management IPO’s latest grey market premium (GMP) stood at Rs 30 on August 19, according to market trackers.

At the upper price band of Rs 160, the GMP indicates an estimated listing price of Rs 190. This translates into a potential listing gain of around 18.75 per cent over the issue price.

However, grey market premiums are unofficial and can change before listing. They should not be treated as an indication of the actual listing price.