Prashant Khemka’s WhiteOak Capital Eyes ₹1,500 Crore IPO
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WhiteOak Capital is preparing for an IPO that could raise up to ₹1,500 crore and potentially value the asset manager at around ₹9,000 crore. Although it has not set a definite timeline for the proposed listing.
WhiteOak Capital is preparing to enter the public markets with a proposed initial public offering (IPO) that could raise as much as ₹1,500 crore. The asset manager could target a valuation of around ₹9,000 crore upon listing.
WhiteOak Capital manages around $13 billion in assets and has funds domiciled in both India and overseas. These funds invest in Indian equities while also having exposure to emerging markets.
WhiteOak Capital IPO Plan Without A Fixed Timeline
The proposed WhiteOak Capital IPO comes as alternative investment managers increasingly look towards public markets. Khemka has confirmed that the firm intends to go public at some point, although there is currently no definite timeline for the offering.
He said the listing is part of the firm's longer-term strategy to attract and retain talent and build its position as a multinational asset manager.
The proposed WhiteOak Capital IPO follows the listing of Gaja Alternative Asset Management, which operates as Gaja Capital. It debuted on the stock exchanges on 26 August 2026 and raised ₹550 crore, including a ₹450 crore fresh issue.
Abakkus Asset Manager also filed its draft red herring prospectus (DRHP) on 22 September 2026 for an IPO comprising an offer-for-sale by its promoter.
WhiteOak Capital Builds On Khemka’s Global Experience
Khemka brings a long investment-management background to WhiteOak Capital. Before moving to India, he managed a $25 billion portfolio of listed US equities as a fund manager at Goldman Sachs.
He relocated to India in 2006 to establish Goldman Sachs' investment management business for emerging markets and India. By the time he left the firm, he had built a $5 billion portfolio of investments for Goldman Sachs.
WhiteOak Capital was established in 2017 following his departure from Goldman Sachs. The firm's current operations include funds based in India and overseas, with investment exposure spanning Indian equities and some emerging markets.
WhiteOak Capital Increases Share Capital Ahead Of IPO
Preparations for the proposed WhiteOak Capital IPO are understood to have started a few months ago. Ministry of Corporate Affairs records show that the company's board approved a tenfold increase in authorised share capital in December 2025.
The authorised share capital was raised to ₹1,275 crore from ₹275 crore. A few months before that, the company had also created an employee stock option pool.
Also Read - PM Cona Industries Files IPO Papers As ₹120 Crore Fresh Issue Targets 50 New Showrooms
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
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
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