Gaja Alternative Asset Management IPO Gets 86% Subscription On First Day Of Bidding

New Delhi, Aug 19: The initial public offering of Gaja Alternative Asset Management Ltd was subscribed 86 per cent on the first day of bidding on Wednesday.

IPO receives strong retail response

The IPO received bids for 2,16,60,258 shares against 2,53,28,946 shares on offer, as per NSE data.

The category for retail investors was subscribed 1.20 times, while the quota for non-institutional investors was booked 1.06 times. The Qualified Institutional Buyers (QIBs) category received 9 per cent subscription.

Issue details and pricing

Gaja Alternative Asset Management Ltd, which operates under the Gaja Capital brand, on Tuesday raised Rs 165 crore from anchor investors.

The company's Rs 550-crore IPO will close on August 21. The issue price band has been fixed at Rs 152-160 per equity share.

At the upper limit of the price band, the company will have a market capitalisation of around Rs 2,256 crore.

The public issue comprises a fresh issuance of equity shares aggregating up to Rs 450 crore, and an offer-for-sale (OFS) of shares worth up to Rs 100 crore.

Funds utilisation and company profile

Proceeds from the fresh issue will be used for repayment of debt, seeding new funds and general corporate purposes.

Gaja Capital, founded in 2004, is a private equity and alternative asset management firm focused on providing growth capital to entrepreneurs. The firm has invested across sectors including education, consumer and financial services.

Its investment portfolio includes companies such as TeamLease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Educational Initiatives, LeadSquared and Signzy.

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Listing plans announced

In January 2025, the company converted from a private limited entity into a public limited company. It was renamed Gaja Alternative Asset Management Ltd.

The equity shares are proposed to be listed on both the BSE and NSE on August 26.

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)