Gaja Alternative Asset Management IPO Subscribed 31.33 Times On Final Day
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…
Gaja Alternative Asset Management Ltd's initial public offering saw an overwhelming subscription on its final bidding day. The Rs 550-crore IPO received bids for 79,35,33,846 shares, far exceeding the 2,53,28,946 shares up for grabs. The category for non-institutional investors garnered 62.35 times subscription, while qualified institutional buyers (QIBs) saw a 43.58 times subscription.
Retail investors were subscribed to at 11.03 times. Anchor investors, led by Nippon India Mutual Fund and Invesco Mutual Fund, invested Rs 30 crore each during the anchor book stage. The issue price band was set at Rs 152-160 per equity share, potentially giving the company a market capitalisation of Rs 2,256 crore at the upper limit.
The IPO consists of a fresh equity share issuance up to Rs 450 crore and an offer-for-sale of shares up to Rs 100 crore. Proceeds will be used for debt repayment, new fund seeding, and general corporate purposes. Founded in 2004, Gaja Capital is a private equity and alternative asset management firm, investing in sectors like education, consumer, and financial services.
Its portfolio includes notable companies such as TeamLease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Educational Initiatives, LeadSquared, and Signzy. Gaja Capital converted to a public limited company in January 2025 and is set to list its equity shares on both the BSE and NSE on August 26.
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