Gaja Alternative Asset Management came to market through an IPO that opened on 19 August 2026 and closed on 21 August 2026, and the shares listed on 26 August 2026 on BSE, NSE. The price band was ₹152 to ₹160 per share and one lot was 93 shares, so the minimum application was ₹14,880. The issue size was ₹550 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
It listed at ₹185, a gain of 15.6% against the issue price of ₹160. MUFG Intime India Pvt.Ltd was the registrar to the issue, and JM Financial Ltd., IIFL Capital Services Ltd were the lead managers.
As of 21 August 2026.
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Overall the issue was subscribed 32.98 times.
Incorporated in 2004, Gaja Alternative Asset Management is an alternative asset management company. Operating under the brand name 'Gaja Capital', it is one of the leading private equity and alternative asset management firms. The company acts as an investment manager to India-focused funds, including Category II and Category I Alternative Investment Funds (AIFs), and also acts as advisors to offshore funds that provide capital to companies in India.
The company invests across a wide range of sectors, and the various funds managed and advised by it have been focused on several sectors including EEE, financial services, consumer, and digital technology. In all, the company has engaged a total of 38 personnel as of September 30, 2025, comprising permanent and contract staff.
As described in the offer document.
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Gaja Alternative Asset Management Limited finalised its anchor investor allocation on August 18, 2026, raising ₹165.00 crore from 20 institutional investors at an anchor price of ₹160 per share. The anchor book comprises 1,03,12,500 equity shares, with domestic mutual funds receiving 65.15% of the allocation through 7 fund houses across 13 schemes, including Nippon India Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Helios Mutual Fund, TRUSTMF, Groww Mutual Fund, and Samco Mutual Fund.
Life insurance companies received 16.66%, led by HDFC Life Insurance at 7.57%, followed by SBI Life Insurance and Bajaj Life Insurance. The remaining allocation went to Sanshi Fund-I, Bengal Finance and Investment Pvt Ltd, Winro Commercial (India) Ltd, and Societe Generale – ODI.
Mr. Gopal Jain, Mr. Ranjit Jayant Shah, Mr. Imran Jafar, Ms. Chitra Jain, Ms. Mona Ranjit Shah. Promoter holding 71.03% before the issue and 54.23% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Gaja Alternative Asset Management IPO was a ₹550 crore book-built issue, comprising a fresh issue of ₹450 crore and an offer for sale of ₹100 crore. It was priced at ₹152–₹160 per share with a lot size of 93 shares (₹14,880). The IPO was open from August 19 to August 21, 2026 and was subscribed 32.98x. Shares listed on BSE and NSE on August 26, 2026 at ₹185, a 15.6% premium to the issue price of ₹160.
MUFG Intime India Pvt. Ltd. is the registrar. JM Financial Ltd. and IIFL Capital Services Ltd. are the book running lead managers.
The price band of Gaja Alternative Asset Management IPO is ₹152 to ₹160 per share.
The lot size of Gaja Alternative Asset Management IPO is 93 shares.
The minimum investment for Gaja Alternative Asset Management IPO is approximately ₹14,880 based on the upper price band.
The allotment date of Gaja Alternative Asset Management IPO is Aug 24, 2026.
No GMP quote could be verified as recorded before Gaja Alternative Asset Management IPO listed. A grey-market observation of ₹17 per share was recorded on 26 Aug 2026, 6:00 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹185. GMP is unofficial and does not forecast or guarantee the actual listing price.
Gaja Alternative Asset Management IPO listed on Aug 26, 2026. It was issued at ₹185.0(NSE) and is currently around ₹126.10 as on 2-Nov-2026 3:30 PM, which is approximately -21.2% versus issue price. The 52-week high is ₹191.65.
You can check Gaja Alternative Asset Management IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Gaja Alternative Asset Management IPO allotment status on Rupix for quick and easy access.
₹152 to ₹160 per share, against a face value of ₹5. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 93 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,880.
₹14,880, for one lot of 93 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 19 August 2026 and closed on 21 August 2026.
The basis of allotment was published on 24 August 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 26 August 2026 on BSE, NSE, opening at ₹185.
The issue size was ₹550 crore. The fresh issue was 2,81,25,000 shares (aggregating up to ₹450 crore). The offer for sale was 62,50,000 shares (aggregating up to ₹100 crore).
It listed at ₹185 against an issue price of ₹160, a gain of 15.6 percent on listing day.