Gaja Alternative Asset Management Limited IPO Price: ₹152 to ₹160 per share
IPO Dates: 19 Aug to 21 Aug, 2026
Company Overview
Incorporated in April 1999, Gaja Alternative Asset Management Limited is an independent, home-grown alternative asset management company with over two decades of experience in managing and advising India-focused funds, including Category I and Category II AIFs, as well as offshore funds investing in India.
Business Operations
The Company focuses on alternative investments across sectors such as education, energy and environment, financial services, consumer and digital technology, with a differentiated investment approach focused on the mid-market segment.
Fund Portfolio
Gaja Alternative Asset Management has built a strong track record through multiple fund cycles, with the Gaja Capital Funds comprising Fund II, Fund III and Fund IV.
Sponsor Commitment
The Company had committed approximately Rs 274 crore as Sponsor Commitment, representing 6.41% of the total size of the Gaja Capital Funds as of March 31, 2026.
Revenue Model
The Company generates income through management fees, carried interest and gains from sponsor commitments, with a focus on capturing the economic value generated by the funds managed and advised by it.
Investment Approach
Gaja Capital follows an invest-and-collaborate approach, working closely with portfolio companies across areas such as product, sales, human resources and financial management.
Investor Base
The Company has long-standing relationships with investors across more than 20 countries, supported by a diverse global investor base.
Workforce
As of March 31, 2026, the Company had 37 personnel, including 23 permanent and 14 contractual employees.
Key Strengths
- Well-established alternative asset management company with over 20 years of experience.
- Proven track record of consistent performance across Gaja Capital Funds.
- Focus on the high-growth alternative asset management industry in India.
- Differentiated invest-and-collaborate approach focused on value creation.
- Strong alignment of interests with investors through significant Sponsor Commitment.
- Experienced promoters and management team with deep industry expertise.
- Long-standing relationships with a diverse global investor base.
- Robust financial growth and strong balance sheet.
Bidding Starts In
Gaja Alternative Asset Management Limited IPO Specifics:
| IPO Date | 19 to 21 Aug, 2026 |
| Listing Date | Wed, Aug 26, 2026 |
| Face Value | ₹5 per share |
| Price Band | ₹152 to ₹160 |
| Lot Size | 93 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,43,75,000 shares (agg. up to ₹550 Cr) |
| Fresh Issue | 2,81,25,000 shares (agg. up to ₹450 Cr) |
| Offer for Sale | 62,50,000 shares of ₹5 (agg. up to ₹100 Cr) |
| Share Holding Pre Issue | 11,28,85,230 shares |
| Share Holding Post Issue | 14,10,10,230 shares |
Gaja Alternative Asset Management Limited IPO Timetable (Important Dates)
| Event | Date |
|---|---|
| IPO Open | Wed, Aug 19, 2026 |
| IPO Close | Fri, Aug 21, 2026 |
| Allotment | Mon, Aug 24, 2026 |
| Refund | Tue, Aug 25, 2026 |
| Credit of Shares | Tue, Aug 25, 2026 |
| Listing | Wed, Aug 26, 2026 |
Gaja Alternative Asset Management Limited IPO Lot Size
Bidders have the opportunity to bid for a minimum of 93 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 93 | ₹14,880 |
| Retail (Max) | 13 | 1,209 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,302 | ₹2,08,320 |
| S-HNI (Max) | 67 | 6,231 | ₹9,96,960 |
| B-HNI (Min) | 68 | 6,324 | ₹10,11,840 |
Gaja Alternative Asset Management Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Gaja Alternative Asset Management Limited IPO Financial Information
| Particulars (₹ Cr) | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 706.49 | 451.87 | 388.60 |
| Total Income | 157.80 | 123.31 | 103.96 |
| Profit After Tax | 81.96 | 61.95 | 44.74 |
| Net Worth | 606.52 | 606.52 | 331.88 |
| Reserves & Surplus | 525.33 | 381.75 | 325.79 |
| Total Borrowing | 41.56 | 4.00 | 3.51 |
Key Performance Indicator-Gaja Alternative Asset Management Limited IPO
| 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 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 7.26 | 5.81 |
| P/E (x) | 22.04 | 27.54 |
| Market Cap at Offer Price | ₹1,806Cr. | ₹2,256.16 Cr |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
Gaja Alternative Asset Management IPO DRHP
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