Gaja Alternative Asset Management shares list at 16% premium on NSE; here's how much investors made per lot

On the BSE, the stock started trading at ₹185.20 per equity share, up 15.75% from the issue price.

Gaja Alternative Asset Management share price: Here's how much investors made per lot

A lot consisted of 93 shares and cost ₹14,880. Investors who received Gaja Alternative Asset Management IPO allotment made ₹2,325 per lot, taking the value of their investment to ₹17,205, as per the listing price on the NSE.

The ₹550 crore initial public offering consisted of a fresh issuance of ₹450 crore as well as an offer for sale (OFS) component of ₹100 crore by existing investors.

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

The money generated will be used for seeding new funds, debt clearance and general corporate purposes.

The initial share sale was subscribed 31.33 times, as it got bids for 79,35,60,351 equity shares against 2,53,28,946 shares on offer, as per the BSE data.

The part reserved for non-institutional investors (NIIs) secured 62.35 times subscription. The portion for qualified institutional buyers (QIBs) was subscribed 43.58 times, and the retail investors' portion was booked 11.04 times.

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

Gaja Alternative Asset Management, which operates under the Gaja Capital brand, is a private equity and alternative asset management company. It focuses on offering growth capital to entrepreneurs. It has invested across sectors like financial services, education and consumer.

Its investment portfolio includes firms such as RBL Bank, John Distilleries, Lighthouse Learning, TeamLease, Xpressbees, Educational Initiatives, Signzy and LeadSquared.