November 5, 2025
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Gaja Alternative Asset Management IPO
SEBI has approved the Initial Public Offer (IPO) of Gaja Alternative Asset Management Ltd. on October 20, 2025.
The company will now proceed with the next steps to launch its IPO, subject to market conditions and other necessary approvals.
The approval remains valid for 12 months.
The Gaja Alternative Asset Management IPO is a Book-Build Issue, and the company proposes to list its equity shares on BSE and NSE.
JM Financial Ltd. is the Book Running Lead Manager, while the Registrar is yet to be declared.
Key details such as price band, lot size, and subscription dates are yet to be announced.
🕗 Last Update: 5 November 2025, 5.00 AM
👉 GMP | Reviews | Subscription | Allotment
IPO Key Dates
| Event | Date |
|---|---|
| IPO Opens on | — |
| IPO Closes on | — |
| Allotment on | — |
| Refunds | — |
| Credit of Shares | — |
| Listing Date | — |
IPO Key Details
| Particulars | Details |
|---|---|
| Issue Size | — |
| Face Value | Rs. — per share |
| Issue Price Band | Rs. — to Rs. — per share |
| Lot Size | — |
| Sale Type | Fresh Issue + Offer for Sale |
| Issue Type | Book-Build IPO |
| Listing | BSE, NSE |
Promoter Holding
| Particulars | Percentage |
|---|---|
| Promoter Holding Pre-Issue | — |
| Promoter Holding Post-Issue | — |
Promoters:
Mr. Gopal Jain, Mr. Prashant Mittal, and associates.
DRHP Status
| Description | Date |
|---|---|
| Filed with SEBI | June 28, 2025 |
| SEBI Approval Received | October 20, 2025 |
About Gaja Alternative Asset Management Ltd.
Founded in 2004, Gaja Alternative Asset Management Ltd., operating under the brand name Gaja Capital, is one of India’s leading private equity and alternative asset management firms.
The company focuses on growth investments across multiple sectors such as education, consumer, and financial services.
Gaja Capital has a proven track record of identifying scalable businesses and adding strategic value to its portfolio companies.
Over the past two decades, it has invested in prominent brands and companies including Eggoz, Amber, Signzy, Xpressbees, RBL Bank, and Avendus.
The firm’s investment philosophy centers on long-term capital appreciation, sustainable value creation, and supporting India’s mid-market enterprises.
The company operates from its head office at One World Center, Lower Parel, Mumbai, and manages multiple funds under SEBI’s AIF (Alternative Investment Fund) Regulations.
Competitive Strengths
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Among India’s top homegrown mid-market private equity funds.
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Strong track record of returns with successful exits in portfolio companies.
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Diversified investments across high-growth sectors – education, consumer, and fintech.
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Experienced leadership team with two decades of investment experience.
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Deep institutional relationships and global investor base.
Objects of the Issue
The proceeds from the proposed IPO are expected to be utilized for:
1️⃣ Strengthening the company’s capital base and funding growth initiatives.
2️⃣ Investment in existing and new alternative investment platforms.
3️⃣ General corporate purposes and working capital requirements.
(Final object allocation will be detailed in the RHP.)
Chanakya View
Gaja Alternative Asset Management Ltd. (Gaja Capital) represents India’s emerging class of homegrown alternative investment platforms transitioning to public markets.
With over two decades of investing experience and exposure to fast-growing sectors, Gaja Capital enjoys a strong reputation among institutional investors.
This IPO will likely offer investors an opportunity to participate in India’s alternative investment growth story, as the AIF ecosystem expands rapidly amid rising domestic capital flows.
While financials are yet to be disclosed, the firm’s established track record, marquee investments, and seasoned management indicate long-term potential.
Chanakya Verdict:
💼 A pioneering AIF platform with proven credentials — keep on radar for long-term portfolio diversification once price band and valuations are available.
Registered Office
Gaja Alternative Asset Management Ltd.
1402, Tower 2B, One World Center,
Lower Parel, Mumbai – 400013
📞 +91-22-2421-2280
✉ info@gajacapital.com
🌐 www.gajacapital.com
Registrar
(Details yet to be announced)
Lead Manager
JM Financial Ltd.
IIFL Capital Services Ltd. (Co-Manager)
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Disclaimer
This coverage is for informational purposes only. Chanakya Ni Pothi does not recommend trading in grey market premiums or making investment decisions based solely on GMP data. Please consult a SEBI-registered financial advisor before investing.
