Gaja Alternative Asset Management Limited
GAJA • BSE, NSE
Issue details
Price band
₹152 - ₹160
Lot size
93 shares
Issue size
₹405.26 Cr
Min. investment
₹14,880
Registrar
MUFG Intime India
Subscription
15.63x
Grey market premium
Est. gain+₹18.5 · 12%
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IPO Timeline
Open
19 Aug
Close
21 Aug
Allotment
24 Aug
Listing
26 Aug
- Refunds & demat credit
- 25 Aug 2026
- Mandate end
- 5 Sep 2026
- Anchor lock-in 50%
- 23 Sep 2026
- Anchor lock-in 100%
- 22 Nov 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative. Anchor lock-in applies only to issues with an anchor allotment.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| RII | 93shares 1 lot · ₹14,880 | 1,209shares 13 lots · ₹1,93,440 |
| sNII (₹2L–₹10L) | 1,302shares 14 lots · ₹2,08,320 | 6,231shares 67 lots · ₹9,96,960 |
| bNII (above ₹10L) | 6,324shares 68 lots · ₹10,11,840 | No limit funds permitting |
Based on the upper price band of ₹160 and a lot of 93 shares.
Subscription
| Quota | Shares offered | Shares bid | Subscribed |
|---|---|---|---|
| NII | 54,27,632 | 16,02,17,331 | 29.52x |
| bNII (above ₹10L) | 18,09,210 | 4,33,94,637 | 23.99x |
| Retail (IND) | 1,26,64,474 | 8,55,96,921 | 6.76x |
| Total | 2,53,28,946 | 39,59,41,362 | 15.63x |
Last updated 20 days ago.
Issue structure
Face value
₹5 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital cum OFS
Fresh issue
₹450 Cr
2,81,25,000 shares
Offer for sale
₹100 Cr
62,50,000 shares
Shares pre-issue
11,28,85,230
Shares post-issue
14,10,10,230
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 7.26 | 5.81 |
| P/E | 22.04 | 27.54 |
| Market cap | ₹1,806Cr. | ₹2,256.16 Cr |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 16.47% | 17.19% |
| Debt/Equity | 0.07 | 0.01 |
| RoNW | 13.13% | 15.31% |
| PAT Margin | 51.94% | 50.24% |
| NAV | 53.73 | 37.33 |
| Price to Book Value | 2.98 | 4.29 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total income | 157.8 | 123.31 | 103.96 |
| Profit after tax | 81.96 | 61.95 | 44.74 |
| Net worth | 606.52 | 388.97 | 331.88 |
| Assets | 706.49 | 451.87 | 388.6 |
| Reserves & surplus | 525.33 | 381.75 | 325.79 |
| Total borrowing | 41.56 | 4 | 3.51 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Investing towards Sponsor Commitments to certain existing funds, new funds and for repayment of the Bridge Loan Amount as follows: (a) investing towards balance Sponsor Commitment to the following constituent funds of Fund IV and Bridge Loan Amount (i) Gaja Capital India Fund 2020 LLP; (ii) Gaja Capital India Fund 2020 (iii) Bridge Loan Amount (b) investing towards Sponsor Commitment to the proposed Fund V (c) investing towards Sponsor Commitment to the Secondaries Fund₹372 Cr
- 2.General Corporate Purposes—
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| SBI Funds Management Ltd.Mainboard | ₹574 | 38.12 | ₹609.75 | +6.23% |
| ICICI Prudential Asset Management Co.Ltd.Mainboard | ₹2165 | 40.37 | ₹2,585.90 | +19.44% |
| Canara Robeco Asset Management Co.Ltd.Mainboard | ₹266 | 27.82 | ₹300.45 | +12.95% |
Past listing performance of comparable issues. This is not a forecast: listing gains vary widely and can turn negative.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 14 Aug 2026. Always verify against the RHP before applying.