Gaja Alternative Asset Management IPO
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Gaja Alternative Asset Management IPO details
Schedule of Gaja Alternative Asset Management
| Issue open date | 19 Aug 2026 |
| Issue close date | 21 Aug 2026 |
| UPI mandate deadline | 21 Aug 2026 (5 PM) |
| Allotment finalization | 24 Aug 2026 |
| Refund initiation | 25 Aug 2026 |
| Share credit | 25 Aug 2026 |
| Listing date | 26 Aug 2026 |
| Mandate end date | 05 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 22 Sep 2026 |
| Lock-in end date for anchor investors (remaining) | 21 Nov 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Gaja Alternative Asset Management
Gaja Capital is an alternatives AMC/private equity firm that raises capital from wealthy and institutional investors for its funds, which invest in high-risk, high-potential businesses. It invests in interesting themes such as deep tech, AI startups, and transformative management buyouts. Gaja manages multiple alternative investment funds (AIFs) and offshore funds, and earns three streams of income: management fees, share of profits, and returns on its own capital.
Financials of Gaja Alternative Asset Management
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 550 |
| Fresh Issue – Proceeds go to the company | 450 |
| Offer for sale – Proceeds go to the existing investors | 100 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Sponsor commitments to existing & new funds and bridge loan repayment | 372 (82.67%) |
| General corporate purposes | 78 (17.33%) |
Strengths
- Well-established alternative asset management platform with a unique and differentiated business model.
- Proven track record of delivering consistent performance and returns across various Gaja Capital Funds.
- Favorable exposure to the high-growth alternative asset management industry in India with significant scalability.
- The invest-and-collaborate approach is strongly focused on operational value addition for portfolio companies.
- Alignment of interests with investors through high sponsor commitment, ensuring skin in the game.
Risks
- High revenue dependency on the underlying financial performance of the managed and advised funds.
- Historical returns generated by the firm’s prior funds may not be indicative of future fund performance.
- Receipt of carried interest payments from managed funds is inherently uncertain and highly volatile.
- Heavy reliance on management fees, which accounted for the vast majority of total revenue in recent fiscal years.
- Potential pricing volatility and lack of market liquidity, as this is the company’s first public issue.
Allotment Status for Gaja Alternative Asset Management
To check your IPO allotment status:
- Visit the MUFG Intime India IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.
Subscription Figures for Gaja Alternative Asset Management
Grey Market Premium (GMP) is an unofficial and unregulated metric that may not accurately reflect investor interest. Instead, investors should refer to the IPO subscription data published by the stock exchanges, which is a more reliable indicator of demand.
Subscription numbers as of 05:00 PM on August 21, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 72.36 | 3153.83 | 43.58x |
| NII | 54.27 | 3384.15 | 62.35x |
| Retail | 126.64 | 1397.30 | 11.03x |
| Total | 253.28 | 7935.28 | 31.33x |