Gaja Alternative Asset Management Ltd IPO Details

Gaja Alternative Asset Management Ltd IPO Details

MainboardLive
Min. Investment
₹14,880
/ 93 Shares
Issue Price
₹152 to ₹160
Subscription
-
Issue Size
₹550.00 Cr
Lot Size
93 Shares
Open
2026-08-19
Close
2026-08-21
Allotment
2026-08-24
Listing
2026-08-26

1. Gaja Alternative Asset Management Ltd IPO Details (Mainboard) IPO Details

Gaja Alternative Asset Management Ltd IPO is a mainboard book-built issue of ₹550.00 crores. The issue consists of a fresh issue of 2.81 crore shares worth ₹450.00 crores and an offer for sale (OFS) of 0.63 crore shares aggregating to ₹100.00 crores.
The bidding for the IPO starts this Wednesday, Aug 19, 2026, and closes on Aug 21, 2026. The allotment is expected to be finalized on Aug 24, 2026. The company will list on both the BSE and NSE mainboard platforms, with a tentative listing date fixed as Aug 26, 2026.
The price band is set at ₹152–₹160 per share. The lot size for an application is 93 shares, requiring a minimum retail investment of ₹14,880 at the upper price band.

    Grey Market Premium

    Estimated listing gains (Live)

    +₹19Per Share
    EST. GAINS
    Updated real-time from market sources

    Financial Summary

    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets706.49451.87388.60
    Total Income157.80123.31103.96
    Profit After Tax81.9661.9544.74
    NET Worth606.52388.97331.88
    Reserves and Surplus525.33381.75325.79
    Total Borrowing41.564.003.51

    Gaja Alternative Asset Management IPO Details

    IPO Date19 to 21 Aug, 2026
    Listing DateWed, Aug 26, 2026 T
    Face Value₹ 5 per share
    Price Band₹152 to ₹160
    Lot Size93 Shares
    Sale TypeFresh capital cum OFS
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size3,43,75,000 shares (agg. up to ₹ 550 Cr)
    Fresh Issue2,81,25,000 shares (agg. up to ₹ 450 Cr)
    Offer for Sale62,50,000 shares of ₹ 5 (agg. up to ₹ 100 Cr)
    Share Holding Pre Issue11,28,85,230 shares
    Share Holding Post Issue14,10,10,230 shares

    IPO Timetable (Tentative)

    EventDate
    IPO OpenWed, Aug 19, 2026
    IPO CloseFri, Aug 21, 2026
    AllotmentMon, Aug 24, 2026
    RefundTue, Aug 25, 2026
    Credit of SharesTue, Aug 25, 2026
    ListingWed, Aug 26, 2026

    Issue Reservation

    Investor CategoryShares Offered
    QIBNot more than 50% of the Net Offer
    RetailNot less than 35% of the Net Offer
    NIINot less than 15% of the Net Offer

    IPO Lot Size

    ApplicationLotsSharesAmount
    Retail (Min)193₹14,880
    Retail (Max)131,209₹1,93,440
    S-HNI (Min)141,302₹2,08,320
    S-HNI (Max)676,231₹9,96,960
    B-HNI (Min)686,324₹10,11,840

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    IPO Objects of the Issue

    #Issue ObjectsEst Amt (₹ Cr.)
    1Investing towards Sponsor Commitments to certain existing funds, new funds and for repayment of the Bridge Loan Amount372.00
    2General Corporate Purposes-
    Total372.00

    Key Performance Indicator (KPI)

    KPIMar 31, 2026Mar 31, 2025
    ROE16.47%17.19%
    Debt/Equity0.070.01
    RoNW13.13%15.31%
    PAT Margin51.94%50.24%
    NAV53.7337.33
    Price to Book Value2.984.29

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)7.265.81
    P/E (x)22.0427.54
    Market Cap at Offer Price₹1,806Cr.₹2,256.16 Cr

    Shareholding Structure

    CategoryPre IPOPost IPO
    Promoter and Promoter Group71.03%54.23%
    Public28.97%45.77%
    Total100%100%

    Offer For Sale - Selling Shareholders

    NameCategoryEstimated Amount (₹ cr.)
    Ranjit Jayant Shah jointly held with Mona Ranjit ShahPromoter29.35
    Imran JafarPromoter20.00
    Sudesh Jain jointly held with Mr.Gopal JainPromoter10.00
    Sanjay Hiralal PatelOther18.75
    Anshuman GoyalOther9.40

    IPO Lead Managers & Registrar

    RoleEntity Name
    RegistrarMUFG Intime India Pvt.Ltd.
    Lead Manager 1JM Financial Ltd.
    Lead Manager 2IIFL Capital Services Ltd.

    2. About Gaja Alternative Asset Management Ltd IPO Details (Mainboard)

    Incorporated in April 1999 and headquartered in India, Gaja Alternative Asset Management Limited (popularly known as Gaja Capital) is an independent, home-grown alternative asset management company with over two decades of experience. The firm manages and advises Category I and Category II Alternative Investment Funds (AIFs) as well as offshore funds investing in India. Operating across sectors such as financial services, education, consumer products, energy, and digital technology, the company derives income from management fees, carried interest, and returns on its sponsor commitments.

    Track Record (Financial Highlights)

    • Financial Scale: Operational revenue grew from ₹95.64 Cr in FY24 to ₹121.99 Cr in FY25, and reached ₹135.53 Cr for the fiscal year ended March 31, 2026 (Total income reached ₹157.80 Cr in FY26).
    • Profitability: Net profit (PAT) rose from ₹44.74 Cr in FY24 to ₹61.95 Cr in FY25, and expanded to ₹81.96 Cr in FY26.
    • EBITDA & Net Worth: EBITDA increased to ₹72.05 Cr in FY26 from ₹60.80 Cr in FY25, while Net Worth expanded to ₹606.52 Cr.

    Gaja Alternative Asset Management Ltd IPO GMP

    As of August 15, 2026, the Grey Market Premium (GMP) is currently ₹0.
    Note: Early grey market tracking indicators are starting flat ahead of the bidding window opening next week.

    Gaja Alternative Asset Management Ltd IPO Allotment Status

    The allotment is scheduled to be finalized on August 24, 2026.
    Check Gaja Alternative Asset Management Allotment Status
    To check your status online once the issue closes, visit the assigned registrar tracking portal or monitor updates on the NSE/BSE mainboard portals:
    MUFG Intime India IPO Status Portal
    You can verify your status via:
    • Registrar's website (MUFG Intime India Private Limited)
    • BSE & NSE official tracking portals
    • Using your PAN number, Application ID, or DP ID/Client ID

    Strengths

    • Independent Asset Manager with Deep Experience: Over 20 years of track record in managing mid-market India-focused alternative asset funds.
    • Strong Global Investor Relationships: Backed by long-standing relationships with institutional and high-net-worth investors across more than 20 countries.
    • Significant Alignment of Interest: High sponsor commitment to its own funds (over ₹274 crore committed across existing funds), aligning management incentives with investors.

    Weaknesses

    • Market & Fund Performance Risk: Revenue models heavily rely on Assets Under Management (AUM), market valuation of portfolio investments, and realization of performance-linked carry.
    • Regulatory Exposure: Operations are subject to stringent regulations governed by SEBI for AIFs and AMCs in India.
    • Valuation Multiples: Post-IPO P/E multiple stands at ~27.5x based on FY26 earnings.

    How the Company Will Use IPO Money

    The net proceeds from the fresh issue (₹450 Cr) will be utilized for:
    • Sponsor Commitments: Funding balance sponsor commitments to constituent funds under Fund IV, proposed Fund V, and Secondaries Fund, as well as bridge loan repayment (₹372.00 Cr).
    • General Corporate Purposes: Meeting general corporate administrative and operational requirements.

    Lead Manager & Registrar

    • Book Running Lead Managers: JM Financial Limited, IIFL Capital Services Limited
    • Registrar: MUFG Intime India Private Limited

    Frequently Asked Questions (Gaja Alternative Asset Management Ltd IPO Details)

    D
    Founder | India IPO Updates

    DIPAK DANGODARA

    I am the founder of India IPO Updates, a platform dedicated to tracking the Indian IPO market since 2024. With a background in digital research and data analysis, I built this platform to simplify IPO tracking covering issue details, live Grey Market Premium (GMP), subscription status, and allotment updates sourced from public exchange data and verified market sources.

    I am not an SEBI-registered investment advisor. All GMP and market data shared here is for informational purposes only and should not be considered investment advice. Investors are advised to consult a registered financial advisor before making investment decisions.