GA
Gaja Alternative Asset Management Limited IPO
Asset Management · Alternative Investment Funds (AIF) · Mid-Market Focus · Gaja Capital
📋 Mainline IPO
Fresh + OFS
NSE, BSE
₹160
Upper Price
₹550.00 Cr
Issue Size
Aug 26, 2026
Listing Date
₹1,806.16 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Wednesday, 19 August 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 21 August 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Monday, 24 August 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Tuesday, 25 August 2026
Unallotted funds returned; shares credited to demat
🏷️
Wednesday, 26 August 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date19 August 2026 (Wed)
IPO Close Date21 August 2026 (Fri)
Listing Date26 August 2026 (Wed)
Face Value₹5 per share
Price Band₹152 to ₹160
Issue Price (Upper Band)₹160 per share
Issue TypeBook Build — Fresh + OFS
Lot Size93 shares
Total Issue Size3,43,75,000 shares (₹550.00 Cr)
Fresh Issue2,81,25,000 shares (₹450.00 Cr)
Offer for Sale (OFS)62,50,000 shares (₹100.00 Cr)
Pre-Issue Shares11,28,85,230
Post-Issue Shares14,10,10,230
Promoter Holding (Pre)71.03%
Market Cap (Pre-IPO)₹1,806.16 Cr
Listing ExchangeNSE, BSE
Lead ManagerJM Financial, IIFL Capital
RegistrarMUFG Intime India Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹160| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 93 | ₹14,880 |
| Retail — Maximum | 13 | 1,209 | ₹1,93,440 |
| S-HNI (sNII) — Min | 14 | 1,302 | ₹2,08,320 |
| S-HNI (sNII) — Max | 67 | 6,231 | ₹9,96,960 |
| B-HNI (bNII) — Min | 68 | 6,324 | ₹1,011,840 |
⚠️ Note: Investors can bid for a minimum of 93 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net OfferNot more than 50%
QIB Portion
Not less than 35%
Retail Portion
Not less than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 706.49 | 451.87 | 388.60 |
| Total Income | 157.80 | 123.31 | 103.96 |
| PAT | 81.96 | 61.95 | 44.74 |
| Net Worth | 606.52 | 388.97 | 331.88 |
| Reserves & Surplus | 525.33 | 381.75 | 325.79 |
| Total Borrowing | 41.56 | 4.00 | 3.51 |
Income Growth
FY 2023–24₹103.96 Cr
FY 2024–25₹123.31 Cr
FY 2025–26₹157.80 Cr
🎯 Key Performance Indicators
16.47%
ROE
FY 2025–26
0.07
Debt/Equity
FY 2025–26
13.13%
RoNW
FY 2025–26
51.94%
PAT Margin
FY 2025–26
53.73
NAV
FY 2025–26
2.98x
Price/Book
FY 2025–26
37
Personnel
Employees
6.41%
Sponsor Commit
AIF Funds
⚖️ Valuation & EPS
Pre-IPO EPS
₹7.26
FY26 earnings + pre-issue shares
P/E: 22.04xPost-IPO EPS
₹5.81
FY26 earnings + post-issue shares
P/E: 27.54xPrice to Book Value
2.98x
At upper price band ₹160
Market Cap (Pre-IPO)
₹1,806.16 Cr
At issue price ₹160
ℹ️
Pre-IPO EPS (₹7.26) based on pre-issue shares (11,28,85,230) and FY26 earnings. Post-IPO EPS (₹5.81) includes the dilution metrics derived from post-issue total equity capital of 14,10,10,230 shares following the 2,81,25,000 fresh equity issuance block. Post-IPO Market Cap expands to ₹2,256.16 Cr.
🎯 Objects of the Issue
Net proceeds utilisation1
Investing towards Sponsor Commitments to certain existing funds, new funds and for repayment of the Bridge Loan Amount
₹372.00 Cr
2
General Corporate Purposes
Balance
Total Fresh Issue Goal
₹450.00 Cr
🏢 About Gaja Alternative Asset Management Ltd.
Est. 1999 · New Delhi · Alternative Asset ManagementGaja Alternative Asset Management Limited, incorporated in April 1999, stands as an independent, premier home-grown alternative asset management firm possessing over two decades of robust experience managing and advising strategic India-focused capital pools. The firm orchestrates sophisticated Category I and Category II Alternative Investment Funds (AIFs) alongside prominent offshore allocations investing in the Indian mid-market segment.
The business leverages a highly differentiated ‘invest-and-collaborate’ methodology, deeply engaging with portfolio companies across critical functions like product development, human resources, sales infrastructure, and fiscal management. Anchored by major platforms including Fund II, Fund III, and Fund IV (Gaja Capital Funds), the firm maintains substantial alignment with global LP investors across 20+ countries by securing ₹274 crore in proprietary Sponsor Commitments. Gaja Alternative derives deep-rooted recurring income through structured management fees, high-yield carried interest, and sponsor commitment gains across education, energy, financial services, and digital technology vectors.
Brand Ecosystem
💼
AIF Management
Managing strategic Category I and Category II Alternative Investment Funds in India
🌍
Offshore Funds
Advising prominent global capital pools deploying strategic allocations into Indian markets
🤝
Invest & Collaborate
Value-creation mechanism driving active operational participation within portfolio entities
💰
Sponsor Committments
Significant 6.41% proprietary capital infusion ensuring deep structural investor alignment
Competitive Strengths
🏆Well-established alternative asset management platform backed by over 20 years of domestic pedigree
📈Proven, consistent performance lifecycle executing successfully across multiple Gaja Capital Fund variants
⚙️Differentiated ‘invest-and-collaborate’ methodology heavily focused on rapid mid-market value creation
🤝Deep alignment of financial interests backed by long-standing global relationships spanning 20+ countries
Company Promoters
GJ
Gopal Jain & Chitra Jain
Promoters, Gaja Alternative Asset Management Ltd.
RS
Ranjit Jayant Shah & Mona Ranjit Shah
Promoters, Gaja Alternative Asset Management Ltd.
IJ
Imran Jafar
Promoter, Gaja Alternative Asset Management Ltd.
📅 Key Dates
IPO Opens19 Aug 2026
IPO Closes21 Aug 2026
Allotment24 Aug 2026
Refund & Share Credit25 Aug 2026
Listing Day26 Aug 2026
💡 Quick Summary
Price Band₹152 – ₹160
Upper Price₹160 / share
Lot Size93 shares
Min. Investment (Retail)₹14,880
Issue Size₹550.00 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
JM Financial, IIFL Capital
📍 Registered Address
Gaja Alternative Asset Management Ltd.
302, 3rd Floor, Kanchenjunga Building,
18, Barakhamba Road, Connaught Place,
New Delhi — 110001
📞 91368 89894
[email protected]
302, 3rd Floor, Kanchenjunga Building,
18, Barakhamba Road, Connaught Place,
New Delhi — 110001
📞 91368 89894
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
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Disclaimer: This page presents publicly available information from the Gaja Alternative Asset Management IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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