Gaja Alternative Asset Management share price jumps nearly 20% on debut day

Gaja Alternative Asset Management witnessed a significant surge in its share price on its inaugural day of trading. The company's shares opened at ₹185 on the National Stock Exchange (NSE), marking a 15.7 per cent premium over the issue price of ₹160. Within minutes of listing, the stock climbed to a peak of ₹191.65 on the NSE, representing a 19.7 per cent increase from the offer price.

Conversely, the Bombay Stock Exchange (BSE) saw Gaja's shares begin at ₹185.20, also trading at a 15.7 per cent premium to the issue price. Throughout the trading day, the stock fluctuated, ultimately closing around ₹182 at 10:04 am. The IPO for Gaja Alternative Asset Management, valued at ₹550 crore, was met with strong demand, receiving 31.33 times the subscribed shares.

Institutional investors, including Nippon India Mutual Fund and Invesco Mutual Fund, led the subscription, while retail investors also showed considerable interest with a 11.03 times subscription rate. The IPO's price band, set between ₹152 and ₹160 per share, would have resulted in a market capitalization of approximately ₹2,256 crore if the upper limit was reached.

The capital raised from the issue is earmarked for debt repayment, new fund allocations, and other corporate needs. Founded in 2004, the firm underwent a transformation in January 2025, transitioning from a private limited entity to a public limited company under the new name Gaja Alternative Asset Management Ltd.