Gaja Alternative Asset Management IPO Details
| IPO Date | 19 to 21 Aug 2026 |
|---|---|
| Listing Date | Wednesday, Aug 26, 2026 |
| Face Value | ₹5 per share |
| Price Band | ₹152 to ₹160 per share |
| Lot Size | 93 Shares |
| Sale Type | Fresh Capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size |
3,43,75,000 shares
(aggregating up to ₹550 Cr) |
| Fresh Issue |
2,81,25,000 shares
(aggregating up to ₹450 Cr) |
| Offer for Sale |
62,50,000 shares
(aggregating up to ₹100 Cr) |
| Shareholding Pre Issue | 11,28,85,230 shares |
| Shareholding Post Issue | 14,10,10,230 shares |
| Market Cap at Upper Price | ₹2,256.16 Cr |
Check Gaja Alternative Asset Management IPO GMP →
Gaja Alternative Asset Management IPO Timeline
| IPO Event | Date |
|---|---|
| IPO Open | Wednesday, Aug 19, 2026 |
| IPO Close | Friday, Aug 21, 2026 |
| Allotment | Monday, Aug 24, 2026 |
| Refund | Tuesday, Aug 25, 2026 |
| Credit of Shares | Tuesday, Aug 25, 2026 |
| Listing | Wednesday, Aug 26, 2026 |
Gaja Alternative Asset Management IPO Issue Reservation
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Offer |
| NII | Not less than 15% of the Net Offer |
Gaja Alternative Asset Management IPO Lot Size
Investors can place bids starting from 93 shares and then increase their application in multiples of the same lot size. At the upper price of ₹160, one retail lot requires an investment of ₹14,880.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 93 | ₹14,880 |
| Retail (Max) | 13 | 1,209 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,302 | ₹2,08,320 |
| S-HNI (Max) | 67 | 6,231 | ₹9,96,960 |
| B-HNI (Min) | 68 | 6,324 | ₹10,11,840 |
About Gaja Alternative Asset Management Ltd.
Gaja Alternative Asset Management Limited, established in April 1999, is an India-focused alternative investment management business with more than two decades of experience. The company manages and advises funds that invest across different sectors of the Indian economy.
Its investment areas include education, energy and environment, financial services, consumer businesses and digital technology. The company’s strategy is primarily aimed at the mid-market segment and focuses on identifying businesses where active involvement can help create long-term value.
The company’s investment platform includes the Gaja Capital Funds, covering Fund II, Fund III and Fund IV. It has developed relationships with investors located across more than 20 countries.
As of March 31, 2026, the company had committed around ₹274 crore towards sponsor commitments, equivalent to approximately 6.41% of the aggregate size of the Gaja Capital Funds.
Revenue is generated through management fees, carried interest and returns from sponsor commitments. The company also works alongside portfolio businesses in areas such as sales, products, human resources and financial management.
As of March 31, 2026, the organisation had 37 personnel, including permanent and contractual employees.
Key Strengths of Gaja Alternative Asset Management
Gaja Alternative Asset Management IPO Financials
Based on the supplied financial figures, the company’s total income grew by approximately 28% in FY2026 compared with FY2025, while profit after tax increased by around 32%.
| Particulars (₹ Cr) | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 706.49 | 451.87 | 388.60 |
| Total Income | 157.80 | 123.31 | 103.96 |
| Profit After Tax | 81.96 | 61.95 | 44.74 |
| EBITDA | 72.05 | 60.81 | 49.25 |
| Net Worth | 606.52 | 388.97 | 331.88 |
| Reserves and Surplus | 525.33 | 381.75 | 325.79 |
| Total Borrowing | 41.56 | 4.00 | 3.51 |
Recently Listed IPOs in Asset Management
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss | LTP |
|---|---|---|---|---|---|---|---|
| SBI Funds Management Ltd. | Mainboard | ₹9,795.32 Cr | ₹574 | 38.12 | ₹609.75 | +6.23% | ₹559.10 |
| ICICI Prudential Asset Management Co. Ltd. | Mainboard | ₹10,602.65 Cr | ₹2,165 | 40.37 | ₹2,585.90 | +19.44% | ₹3,097.90 |
| Canara Robeco Asset Management Co. Ltd. | Mainboard | ₹1,326.13 Cr | ₹266 | 27.82 | ₹300.45 | +12.95% | ₹256.20 |
Gaja Alternative Asset Management IPO Objects of the Issue
According to the supplied issue information, the fresh issue proceeds are primarily intended to strengthen sponsor commitments to existing and upcoming investment funds, along with general corporate requirements.
| # | Purpose | Estimated Amount |
|---|---|---|
| 1 | Sponsor commitments towards selected existing funds, the proposed Fund V and the Secondaries Fund, along with repayment of the specified bridge loan. | ₹372.00 Cr |
| 2 | General Corporate Purposes | Balance Amount |
| Total | ₹372.00 Cr | |
Gaja Alternative Asset Management IPO Key Performance Indicators
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 16.47% | 17.19% |
| Debt / Equity | 0.07 | 0.01 |
| RoNW | 13.13% | 15.31% |
| PAT Margin | 51.94% | 50.24% |
| NAV | ₹53.73 | ₹37.33 |
| Price to Book Value | 2.98 | 4.29 |
Gaja Alternative Asset Management IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 7.26 | 5.81 |
| P/E (x) | 22.04 | 27.54 |
| Market Cap at Offer Price | ₹1,806 Cr | ₹2,256.16 Cr |
Gaja Alternative Asset Management Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 71.03% | 54.23% |
| Public | 28.97% | 45.77% |
| Total | 100% | 100% |
Company Promoters
The promoters listed in the supplied IPO information are Gopal Jain, Ranjit Jayant Shah, Imran Jafar, Chitra Jain and Mona Ranjit Shah.
Gaja Alternative Asset Management IPO Offer for Sale
| Selling Shareholder | Category | Estimated Amount |
|---|---|---|
| Ranjit Jayant Shah jointly held with Mona Ranjit Shah | Promoter | ₹29.35 Cr |
| Imran Jafar | Promoter | ₹20.00 Cr |
| Sudesh Jain jointly held with Gopal Jain | Promoter | ₹10.00 Cr |
| Sanjay Hiralal Patel | Other | ₹18.75 Cr |
| Anshuman Goyal | Other | ₹9.40 Cr |
The OFS amounts above are based on the supplied information and may change depending on the final number of shares offered and the applicable issue price.
Gaja Alternative Asset Management IPO Review
What Is IPO GMP?
IPO GMP refers to the Grey Market Premium associated with an upcoming initial public offering. It is an unofficial market indication showing the premium or discount at which IPO shares may be traded before their formal stock exchange listing.
GMP can change frequently because it is influenced by demand, market sentiment and other factors. It is not an official exchange price and should not be considered a guaranteed listing gain.
Investors should use GMP only as one of several indicators when researching an IPO.
Gaja Alternative Asset Management IPO GMP →
Gaja Alternative Asset Management IPO Registrar
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Gaja Alternative Asset Management IPO Company Details
302, 3rd Floor, Kanchenjunga Building
18, Barakhamba Road
Connaught Place, Central Delhi
New Delhi, Delhi – 110001
Phone: 91368 89894
Email: compliance@gajacapital.com
Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. IPO dates, price bands, allotment schedules, subscription figures and listing details may change. Grey market data is unofficial and may fluctuate significantly before listing.
