Gaja Alternative Asset Management’s ₹550-crore IPO to open on Aug 19; price band fixed at ₹152-160

Gaja Alternative Asset Management Ltd, a prominent private equity and alternative asset management firm, has announced details of its upcoming ₹550-crore Initial Public Offering (IPO). The company has set a price band of ₹152-160 per equity share, which would result in a market capitalisation of approximately ₹2,256 crore at the upper price band.

The IPO will be open for public subscription from August 19 to August 21, with anchor investor bidding occurring on August 18. The public issue consists of a fresh equity shares issuance of up to ₹450 crore and an Offer For Sale (OFS) of up to ₹100 crore, downsizing from the previously proposed ₹656 crore. The raised funds will be allocated towards debt repayment, seed funding, and general corporate purposes.

Established in 2004, Gaja Capital has invested in various sectors including education, consumer, and financial services. The company, which transitioned to a public limited entity in January 2025, has a diverse investment portfolio with holdings like Teamlease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Ei, Leadsquared, and Signzy.

Out of the total offer, 50% is earmarked for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. The shares are set to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 26. JM Financial and IIFL Capital Services Ltd act as the lead managers for the issue, while MUFG Intime India Pvt Ltd serves as the registrar.