New Delhi, August 21, 2026: The initial public offering of Gaja Alternative Asset Management Ltd was subscribed 31.33 times on the last day of bidding on Friday.

The Rs 550-crore IPO received bids for 79,35,33,846 shares against 2,53,28,946 shares on offer, as per data available with the NSE.

The category reserved for non-institutional investors received 62.35 times subscription. The portion for qualified institutional buyers (QIBs) was subscribed 43.58 times, and retail investors received 11.03 times subscription.

Anchor Investors And Issue Details

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 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.

Use Of IPO Proceeds

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

Listing On August 26

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

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

Gaja Alternative Asset Management IPO Subscribed 31.33 Times On Final Day

Gaja Alternative Asset Management’s Rs 550-crore IPO was subscribed 31.33 times on the final bidding day, receiving bids for 79.35 crore shares. Non-institutional investors subscribed 62.35 times, QIBs 43.58 times and retail investors 11.03 times. The shares are proposed to list on August 26.