Gaja Capital ₹550-Crore IPO Subscribed 2.43 Times On Day 2; Retail Portion Booked 3.13 Times

New Delhi, Aug 20: The initial share sale of Gaja Alternative Asset Management received 2.43 times subscription on the second day of bidding on Thursday.

The Rs 550-crore IPO got bids for 6,16,66,998 shares against 2,53,28,946 shares on offer, according to NSE data.

The non-institutional investors bid for 3.93 times the shares reserved for them. The quota for retail investors was subscribed 3.13 times, and qualified institutional buyers (QIBs) received 10 per cent subscription.

Anchor investors and IPO timeline

Gaja Alternative Asset Management Ltd, which operates under the Gaja Capital brand, on Tuesday raised Rs 165 crore from anchor investors. Nippon India Mutual Fund and Invesco Mutual Fund led the anchor book with investments of Rs 30 crore each. HDFC Life and SBI Life were among the other institutional investors.

The company's 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.

Fresh issue and OFS details

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.

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

Gaja Capital's investment portfolio

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 scheduled for August 26

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.)