EAAA India Alternatives IPO to open on October 26; price band fixed at ₹1,585-1,665

EAAA India Alternatives Ltd, a subsidiary of Edelweiss Financial Services, has set a price range of ₹1,585-1,665 per share for its ₹1,200-crore Initial Public Offering (IPO). The company's valuation stands at ₹10,765 crore at the higher end of the price band. The public issue will commence on October 26 and conclude on October 28, with anchor investor bidding taking place on October 23.

The IPO is entirely an Offer For Sale (OFS), with no additional shares issued, meaning the company will not obtain proceeds. Instead, the entire amount will be transferred to the selling shareholder. The issue size has been decreased from the previously announced ₹1,500 crore to ₹1,200 crore. Edelweiss Financial Services had earlier sold a 4.4% stake in EAAA India Alternatives for ₹375 crore in March.

The shares are anticipated to be listed on the BSE and NSE on November 2. Founded in 2008, EAAA India Alternatives is an alternative investment platform boasting over 15 years of expertise in managing long-term capital. The company offers a diversified, multi-strategy investment platform across various alternative asset classes, concentrating on income and yield solutions for clients.

Its portfolio encompasses real assets, such as infrastructure investments in energy and transportation sectors, commercial real estate, and private credit, which provides financing solutions across the risk spectrum. The company maintains offices in Mumbai, New Delhi, GIFT City, and Singapore. The IPO structure reserves 50% of the offer for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.

Axis Capital, Jefferies India, Motilal Oswal, and Nuvama Wealth are the lead managers for the issue, while MUFG Intime India serves as the registrar.