Gaja Alternative Asset Management’s ₹550-cr IPO subscribed 14.77 times so far on closing day
The non-institutional investors (NIIs) portion was 40.29x subscribed, the retail portion 7.83x, and the qualified institutional buyers (QIBs) portion 7.76x
Gaja Alternative Asset Management's ₹550 crore IPO experienced a high level of subscription on its closing day, with a demand of 14.77 times. The non-institutional investors portion was particularly popular, being subscribed 40.29 times, while the retail portion saw a subscription rate of 7.83 times. The qualified institutional buyers portion was also well-received, with a subscription rate of 7.76 times.
The IPO comprises a fresh issuance of equity shares up to ₹450 crore and an offer-for-sale of up to ₹100 crore. If the shares reach the upper limit of the price band, the company's market capitalization would be approximately ₹2,256 crore. Proceeds from the fresh issue will be utilized for debt repayment, new fund seeding, and general corporate purposes.
Gaja Alternative Asset Management Ltd, under the Gaja Capital brand, raised ₹165 crore from anchor investors on Tuesday, with Nippon India Mutual Fund and Invesco Mutual Fund each contributing ₹30 crore. Other institutional investors included HDFC Life and SBI Life. The company made the transition from a private limited entity to a public limited company in January 2025 and is set to list its shares on both the BSE and NSE on August 26.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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