Gaja Alternative Asset Management Limited is set to launch its initial public offering (IPO) on August 19,2026,with a price band fixed between Rs 152 and Rs 160 per share. The IPO aims to raise approximately Rs 550 crore, and at the upper end of the price band, the company's valuation could reach Rs 2,256 crore .
The subscription period for IPO will close on August 21, while the anchor-investor book will open a day earlier,on August 18. The offering consists of a fresh issue of shares valued at Rs 450 crore, alongside offer for sale amounting to Rs 100 crore from select promoters and other shareholders.
Key figures from Gaja Capital were present during the IPO announcement,including Gopal Jain, the Managing Director and Chief Executive Officer,and Ranjit Jayant Shah, the Executive Vice-Chairman. Other notable attendees included Khushal Shah,Director at JM Financial Limited,and Imran Jafar, Executive Director at Gaja Alternative Asset Management .
The funds raised through IPO will primarily be allocated to meet sponsor commitments for existing and new funds, as well as to repay a bridge loan. Specifically, Rs 372 crore is earmarked for these purposes,with remainder directed towards general corporate needs.
Gaja Capital, which manages India-focused funds,operates under the Gaja Capital brand and advises offshore funds investing in Indian companies. The firm has already secured Rs 125 crore in a pre-IPO round from long-term investors,including SBI Life, HDFC Life, and Enam,which has valued the company at Rs 1,625 crore.
In a bid to attract a diverse range of investors,the IPO has reserved up to 50 percent of the offer for qualified institutional buyers, while at least 35 percent is set aside for retail investors and 15 percent for non-institutional investors. Retail investors can apply for a minimum of 93 shares,and they may bid in multiples of 93 thereafter. At the upper price band,one lot will cost Rs 14,880,allowing a retail investor to apply for up to 13 lots,totaling Rs 1,93,440.
For the fiscal year ending March 2026,Gaja Alternative Asset Management reported a net profit increase of 33.8 percent,reaching Rs 79.7 crore,while revenue rose by 11.1 percent to Rs 135.5 crore compared to the previous year. Despite being smaller than its peers,including Aditya Birla Sun Life AMC and ICICI Prudential AMC, Gaja aims to position itself as India’s first listed standalone private equity firm.
Gopal Jain remarked on the evolution of India’s private capital landscape,noting a shift from reliance on foreign investors to a burgeoning domestic capital base. As the Indian economy continues to grow, Jain emphasized that investor confidence in the nation’s long-term growth trajectory is strengthening .
With IPO,Gaja Alternative Asset Management seeks to mark a significant milestone in the alternative asset management sector in India, aiming to expand its distribution and explore new strategies.
