Gaja Alternative Asset Management IPO subscribed 41% so far on Day 1: Check price band, lot size and key dates

The initial public offering of Gaja Alternative Asset Management Ltd, which operates under the Gaja Capital brand, has been subscribed 41% so far on the first day of bidding on Wednesday, August 19.

It received bids for 1,04,46,318 shares compared to 2,53,28,946 shares on offer, according to the NSE data until 12:46 pm.

The initial share sale seeks to raise ₹550 crore through fresh issuance of ₹450 crore and an offer for sale (OFS) of ₹100 crore.

Under the OFS, Ranjit Jayant Shah jointly held with Mona Ranjit Shah, Imran Jafar, Sudesh Jain jointly held with Gopal Jain, Anshuman Goyal, Sanjay Hiralal Patel, Sushane Chopra, Abhinav Jain and Suparna Kumar will offload their stake.

Proceeds from the fresh issue will be utilised for repayment of debt, seeding new funds and corporate general purposes.

Gaja Alternative Asset Management IPO lot size

A lot consists of 93 shares and in multiples thereafter. Half of the net issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Gaja Alternative Asset Management IPO: Allotment and listing date

Before the IPO, the company raised ₹165 crore from anchor investors, including Nippon India Mutual Fund, Invesco Mutual Fund, HDFC Life and SBI Life.

Seasoned investors such as Mukul Agarwal through Sanshi Fund I, Akash Bhansali through Winro Commercial (India) Ltd, and Ashish Kacholia through Bengal Finance also took part in the anchor allocation.

Founded in 2004, Gaja Capital is a private equity and alternative asset management company focused on offering growth capital to entrepreneurs. The company has invested across sectors, including financial services, education and consumer.

Its investment portfolio includes companies like TeamLease, RBL Bank, John Distilleries, Lighthouse Learning, Xpressbees, Educational Initiatives, Signzy and LeadSquared.