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…
New Delhi, Aug 20: Gaja Alternative Asset Management's IPO attracted a subscription of 2.43 times on the second day of bidding, while retail investors' portion was subscribed 3.13 times, according to NSE data. The IPO, priced between Rs 152-160 per equity share, will have a market capitalisation of approximately Rs 2,256 crore if the issue price reaches the upper limit.
The public issue includes a fresh issuance of equity shares worth up to Rs 450 crore and an offer-for-sale (OFS) of shares up to Rs 100 crore. The proceeds will be utilized for debt repayment, new fund seeding, and general corporate purposes. The company, which operates under the Gaja Capital brand, specializes in growth capital for entrepreneurs and has invested in various sectors such as education, consumer, and financial services.
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