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BSE, NSE
Gaja Alternative Asset Management Ltd
Listed
Incorporated in April 1999, Gaja Alternative Asset Management Limited is an independent, home-grown alternative asset management company with over two decades of experience in managing and advising India-focused funds, including C
Issue details
Price band
₹152 – ₹160
Face value
₹5
Lot size
93 shares
Minimum investment
₹14,880
Issue size
₹550.00 Cr
Fresh issue
₹450.00 Cr
Offer for sale
₹100.00 Cr
Issue type
Book Built
Exchange
BSE, NSE
Key dates
Opens
19 Aug 2026
Closes
21 Aug 2026
UPI mandate cut-off
5:00 PM on 21 Aug 2026
Allotment
24 Aug 2026
Refunds
25 Aug 2026
Shares in demat
25 Aug 2026
Listing
26 Aug 2026
Subscription and listing
Subscription
23.30x
Listing price
₹185
Registrar
MUFG Intime India Pvt Ltd
Lead manager
JM Financial, IIFL Capital Services
Subscription by category
Total
23.30x
Total applications
14,06,884
Anchor investors
Amount raised
₹165.00 Cr
Bid date
18 Aug 2026
50% lock-in ends
22 Sep 2026
Rest lock-in ends
21 Nov 2026
Listing day
Issue price
₹160
Open
₹185.00
High
₹191.65
Low
₹165.40
Day close
₹168.67
Listing gain at open
+15.63%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,71,87,500
50.00%
Anchor Investor
1,03,12,500
30.00%
QIB (Ex. Anchor)
68,75,000
20.00%
NII
51,56,250
15.00%
bNII > ₹10L
34,37,500
10.00%
sNII < ₹10L
17,18,750
5.00%
Retail
1,20,31,250
35.00%
Total
3,43,75,000
100.00%
Finaccle’s quick read
Apply
FY26 income up 28%, PAT up 32%, ROE 16.47%, D/E 0.07, post-issue P/E 27.54x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Incorporated in April 1999, Gaja Alternative Asset Management Limited is an independent, home-grown alternative asset management company with over two decades of experience in managing and advising India-focused funds, including Category I and Category II AIFs, as well as offshore funds investing in India. The Company focuses on alternative investments across sectors such as education, energy and environment, financial services, consumer and digital technology, with a differentiated investment approach focused on the mid-market segment.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
16.47%
ROCE
—
Debt / equity
0.07
PAT margin
51.94%
P/E post issue
27.54
Market cap
₹2,256.16 Cr
Use of IPO money
Investing towards Sponsor Commitments to certain existing funds, new funds and for repayment of the Bridge Loan Amount as follows: (a) investing towards balance
₹372.00 Cr
General Corporate Purposes
₹44.25 Cr
Issue Expenses
₹42.60 Cr
Strengths
✓
Revenue up 28% in FY26 to ₹157.80 Cr
✓
PAT up 32% in FY26 to ₹81.96 Cr
✓
PAT margin of 51.94%
✓
ROE of 16.47%
✓
Moderate leverage: debt to equity 0.07
Risks to watch
!
No major red flags in our screen; read the RHP for business-specific risks
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.