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GAJA · NSE,BSE · Asset Management & Financial Services
Gaja Alternative Asset Management IPO listed on 26 Aug 2026 on NSE,BSE at ₹185.00, a gain of 15.63% over the issue price of ₹160.00. The IPO was subscribed 32.98x overall.
Gaja Alternative Asset Management IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 19 Aug 2026 |
| IPO Close Date | 21 Aug 2026 |
| Basis of Allotment | 24 Aug 2026 |
| Initiation of Refunds | 25 Aug 2026 |
| Credit of Shares to Demat | 25 Aug 2026 |
| Listing Date | 26 Aug 2026 |
Listing day gain
+15.63%
Listed at ₹185 (issue ₹160)
Issue
₹160
Listing
₹185
Current
₹168.67
+5.42% vs issue
Day range
₹165.4 – ₹191.65
Issue Size
34,375,000 shares
(aggregating up to ₹550.00 Cr)
Issue Price
₹152 – ₹160
Face Value
₹5/share
Market Lot
93 shares
Retail Min Investment
₹14,880
Listing At
NSE,BSE
Sale Type
both
Fresh Issue
28,125,000 shares
(aggregating up to ₹450 Cr)
Offer for Sale
6,250,000 shares
(aggregating up to ₹100 Cr)
Issue Type
book building
Open Date
19 Aug
Close Date
21 Aug
Allotment
24 Aug
Listing
26 Aug
Last updated: 1 month ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 26 Aug 2026 Latest | ₹160 | ₹18.5 | ₹178.5 | ₹18.5 |
11.56%
|
1:12 AM |
| 25 Aug 2026 | ₹160 | ₹19 | ₹179 | ₹19 |
11.88%
|
8:22 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 21 Aug 2026
| Category | Subscribed (x) |
|---|---|
| QIB | 45.87x |
| NII | 65.63x |
| bNII (bids above ₹10L) | 76.03x |
| sNII (bids below ₹10L) | 44.85x |
| Retail Investors | 11.61x |
| Total | 32.98x |
Showing the latest subscription snapshot.
View full subscription historyGopal Jain, Ranjit Jayant Shah, Imran Jafar, Chitra Jain, Mona Ranjit Shah are the promoters of the company.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 93 | ₹14,880 |
| Retail (Max) | 13 | 1,209 | ₹193,440 |
| S-HNI (Min) | 14 | 1,302 | ₹208,320 |
| S-HNI (Max) | 67 | 6,231 | ₹996,960 |
| B-HNI (Min) | 68 | 6,324 | ₹1,011,840 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 17,187,500 (50.00%) |
|
•
Anchor Investor Shares Offered
|
10,312,500 (30.00%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
6,875,000 (20.00%) |
| NII (HNI) Shares Offered | 5,156,250 (15.00%) |
|
•
bNII > ₹10L
|
3,437,500 (10.00%) |
|
•
sNII < ₹10L
|
1,718,750 (5.00%) |
| Retail Shares Offered | 12,031,250 (35.00%) |
| Total Shares Offered | 34,375,000 (100.00%) |
Gaja Alternative Asset Management Limited was originally incorporated on April 9, 1999 as View Advisors Private Limited and is headquartered in Mumbai. It works in the private equity and alternative asset management sector, focused on India's mid-market segment.
The company acts as investment manager to the Gaja Capital Funds, which are registered with SEBI as Category II Alternative Investment Funds. It invests in and works with mid-market growth and buyout businesses across sectors such as education, consumer, financial services and digital technology. Its income comes from management fees charged on fund commitments, carried interest on fund profits, and returns on its own sponsor commitments to the funds it manages. As of March 31, 2026, the company had committed about Rs 274 crore as sponsor commitment, representing 6.41% of the total size of the Gaja Capital Funds. Its promoters include Gopal Jain, Ranjit Jayant Shah and Imran Jafar. As of March 31, 2026, the company had 37 personnel, including 23 permanent employees.
Total income for FY25 (year ended March 31, 2025) was Rs 110.38 crore, with profit before tax of Rs 44.74 crore for the same period. The IPO, a mainboard issue on the NSE and BSE, comprises a fresh issue of shares aggregating up to Rs 450 crore and an offer for sale of up to Rs 100 crore by existing shareholders, taking the total issue size to about Rs 550 crore. Proceeds from the fresh issue are proposed to be used for sponsor commitments to existing and new funds, repayment of certain borrowings, and general corporate purposes.
Standalone · ₹ in Crores
| Particulars | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Total Revenue | 103.96 | 123.31 | 157.8 |
| Profit After Tax (PAT) | 44.74 | 61.95 | 81.96 |
| EBITDA | - | - | - |
| Total Assets | 388.6 | 451.87 | 706.49 |
| Net Worth | 331.88 | 388.97 | 606.52 |
| Reserves & Surplus | 325.79 | 381.75 | 525.33 |
| Total Borrowing | 3.51 | 4 | 41.56 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| RoE Return on Equity Shows how much profit the company makes on the money shareholders have put in. 15% to 20% is healthy in most industries. | 17.19% | 16.47% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 15.31% | 13.13% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 50.24% | 51.94% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 0.01x | 0.07x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 4.29x | 2.98x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹7.26 | ₹5.81 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 22.04x | 27.54x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹1,806 Cr | ₹2,256 Cr |
The basis of allotment for Gaja Alternative Asset Management IPO was finalised on 24 Aug 2026. You can check your allotment status using your PAN number or application number on the MUFG Intime India Pvt.Ltd portal or BSE.
The Gaja Alternative Asset Management IPO is expected to open in Aug 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Gaja Alternative Asset Management IPO is ₹152.00 - ₹160.00 per share.
As per market sources, Gaja Alternative Asset Management IPO GMP is currently ₹18.50. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Gaja Alternative Asset Management IPO stands at 32.98x overall.
The listing date for Gaja Alternative Asset Management IPO is 26 Aug 2026.
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