Gaja Capital IPO Opens 19 August; Price Band Set At ₹152-160
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Gaja Capital has set a price band of ₹152-160 per share for its ₹550 crore IPO. It will open for subscription on 19 August 2026. The offering consists of a fresh issue of ₹450 crore and an offer for sale of ₹100 crore.
Gaja Alternative Asset Management, which operates under the brand name Gaja Capital, will open its initial public offering (IPO) on 19 August 2026, with a price band of ₹152-₹160 per share. The issue will remain open for three days and will include both a fresh issue and an offer for sale (OFS).
The issue is structured so that most of the capital being raised through the fresh issue will remain with the company. The company will raise ₹450 crore through the fresh issue. The remaining ₹100 crore will come through an OFS by existing shareholders.
Gaja Capital IPO Details
IPO size | ₹550 crore |
Price band | ₹152-160 per share |
Fresh issue | 2.81 crore shares |
OFS | 63 lakh shares |
IPO opening date | 19 August 2026 |
IPO closing date | 21 August 2026 |
Allotment date | 24 August 2026 (expected) |
Listing date | 26 August 2026 (proposed) |
Retail lot size | 93 shares |
Minimum retail investment | ₹14,880 at the upper end of the price band |
Book-running lead manager | JM Financial Ltd. |
Registrar | MUFG Intime India Pvt. Ltd. |
Where Will Gaja Capital Use The IPO Proceeds?
The company plans to utilise ₹372 crore from the fresh issue to meet sponsor commitments to its existing and proposed funds and to repay a bridge loan. The commitments include investments in Gaja Capital India Fund 2020 LLP, Gaja Capital India Fund 2020, the proposed Fund V and the proposed Secondaries Fund.
The remaining proceeds from Gaja Capital IPO's fresh issue will be used for other stated corporate purposes.
Gaja Capital’s Financial Performance
Gaja Alternative Asset Management reported total income of ₹157.80 crore in FY26, compared with ₹123.31 crore in FY25. Its profit after tax (PAT) increased to ₹81.96 crore from ₹61.95 crore during the same period.
The company also reported a sponsor commitment of approximately ₹274 crore as of 31 March 2026. This represented 6.41% of the total size of the Gaja Capital Funds.
About Gaja Capital
Gaja Capital was incorporated in April 1999 and manages and advises India-focused funds. Its portfolio includes Category I and Category II alternative investment funds (AIFs), along with offshore funds that invest in India.
The company focuses primarily on mid-market opportunities across sectors such as education, energy and environment, financial services, consumer businesses and digital technology. It earns money from management fees, carried interest and income from sponsor commitments.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
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