Gaja Capital IPO price band: Gaja Alternative Asset Management, which operates commercially as Gaja Capital, has set its IPO price band in the range of ₹152 to ₹160 per equity share of the face value of ₹5.
The Gaja Capital IPO date of subscription is scheduled for Wednesday, 19 August and will close on Friday, 21 August. The allocation to anchor investors for the Gaja Capital IPO is scheduled to take place on Tuesday, 18 August.
The Gaja Capital IPO lot size is 93 equity shares and in multiples of 93 equity shares thereafter.
Gaja Capital IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Gaja Capital IPO basis of allotment of shares will be finalised on Monday, 24 August and the company will initiate refunds on Tuesday, 25 August, while the shares will be credited to the demat account of allottees on the same day following refund. Gaja Capital share price is likely to be listed on BSE and NSE on Wednesday, 26 August.
Gaja Capital IPO details
The IPO comprises a fresh issue of ₹450 crore and an offer-for-sale (OFS) of up to ₹100 crore by existing shareholders, including promoters. According to the red herring prospectus (RHP), Gopal Jain-promoted Gaja Capital has trimmed the size of both the fresh issue and the OFS from ₹549.2 crore and ₹107 crore, respectively. This brought the total IPO size to ₹656.2 crore when the company announced the issue in its updated draft red herring prospectus filed in December 2025.
At the upper end of the price band, Gaja Alternative Asset Management is expected to command a post-listing market capitalisation of ₹2,256.16 crore.
The company plans to utilise ₹372 crore of the net proceeds from the fresh issue towards sponsor commitments to certain existing and new funds and repayment of a bridge loan. The remaining proceeds will be used for general corporate purposes.
JM Financial and IIFL Financial Services have been appointed as merchant bankers for the Gaja Capital IPO.
Company details
With over two decades of experience in alternative asset management, Gaja Capital serves as an investment manager for India-focused funds, including Category I and Category II alternative investment funds (AIFs). The company also acts as an adviser to offshore funds that invest in Indian businesses.
The company reported a strong financial performance in FY26. Profit rose 33.8% year-on-year to ₹79.6 crore, compared with ₹59.5 crore in FY25. Revenue from operations increased 11% to ₹135.5 crore, from ₹122 crore a year earlier, while total income climbed 28% year-on-year to ₹157.8 crore.
As of the latest shareholding pattern, promoters own a 71.03% stake in Gaja Capital, while public shareholders hold the remaining 28.97%. The public shareholder base includes HDFC Life Insurance, SBI Life Insurance and Wealthwave Capital.
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