Gaja Alternative Asset Management

Gaja Alternative Asset Management (New IPO): GMP, Profit & expert review

by

Gaja Alternative Asset Management Limited (operating as Gaja Capital) is a premier Indian private equity firm specializing in growth-stage investments for mid-market businesses. As an investment manager for SEBI-registered Category I and II Alternative Investment Funds (AIFs), it focuses on high-impact sectors including education, consumer goods, and financial services.

As a private equity firm, Gaja Capital operates a capital-light model without any physical stores, managing assets from offices in Mumbai and Delhi. Its market share is defined by its leadership in mid-market PE, managing over ₹4,200 crore across multiple funds.

Gaja Alternative Asset Management Limited was incorporated on April 9, 1999 and is currently led by Mr. Gopal Jain.

Gaja Alternative Asset Management Limited has filed DRHP with SEBI for a proposed IPO with an issue size of ₹ 656.2 Crore consisting Fresh Issue of ₹549.2 Crore & Offer for Sale (OFS) of ₹ 107 Crore.

Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.

Check DRHP
Check IPO Allotment
Visit Official Website
Issue Size:₹ 656.2 Crore
Fresh Issue:₹ 549.2 Crore
Offer for Sale:₹ 107 Crore
Price Range:TBA
Lot Size:TBA
GMPPending

Gaja Alternative Asset Management Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 388.96
Revenue:₹ 121.99 Cr
EBITDA₹ 60.80 Cr
PAT₹ 61.95 Cr
EBITDA Margin:~49.84%
PAT Margin~50.77%
Face Value:₹ 05 Per Equity Shares

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Borrowing payment~ ₹ 24.91 Cr
Investing towards Sponsor Commitments~ ₹ 387 Cr
Working capital requirement~ ₹ 00 Cr
General Corporate PurposeBalance

Gaja Alternative Asset Management Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 55.8₹ 95.6₹ 121.9
PAT (₹ Cr)₹ 41.3₹ 44.7₹ 62.0
Asset (₹ Cr)₹ 339.8₹ 388.6₹ 451.9
Net Worth (₹ Cr)₹ 287.4₹ 331.8₹ 389.0

Gaja Alternative Asset Management Ltd IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
03-Mar₹ –₹ –₹ –
02-Mar₹ –₹ –₹ –
01-Mar₹ –₹ –₹ –
28-Feb₹ –₹ –₹ –
27-Feb₹ –₹ –₹ –
Gaja Alternative Asset Management Limited

Gaja Alternative Asset Management Limited IPO Pros & Cons

Strengths:

  • Pioneer Status: First standalone Indian private equity firm to list, offering a unique investment play.
  • Proven Track Record: Over 20 years of experience with funds consistently ranking in the top quartiles.
  • High Skin-in-the-Game: Promoters invest capital significantly above regulatory minimums, aligning interests with shareholders.
  • Strong Financial Margins: Boasts impressive profitability with PAT margins often exceeding 50% in recent cycles.
  • Diverse Sector Expertise: Strategic focus on high-growth areas like education, fintech, and digital consumer services.

Risks:

  • Market Sensitivity: Revenue and portfolio valuations are highly vulnerable to stock market volatility and downturns.
  • Key Person Risk: Heavily reliant on the expertise and relationships of a few founding partners.
  • Intense Competition: Faces stiff rivalry from global giants and domestic banks with larger capital bases.
  • Regulatory Changes: Success depends on evolving SEBI regulations and tax laws regarding alternative investment funds.
  • Inconsistent Income: Performance-linked “carried interest” leads to lumpy and unpredictable quarterly earnings for investors.

Gaja Alternative Asset Management Ltd Promoters – Pre offer equity

Promoters%Shares
Mr. Gopal Jain~22.41%
Ms. Mona Ranjit shah + Jayant Shah (Jointly)~18.61%
Ms. Chitra Jain + Mr. Gopal Jain (Jointly)~11.25%
Mr. Imran Jafar~9.13%

Gaja Alternative Asset Management Limited Lot Size details

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Gaja Alternative Asset Management Limited 

Lead / Book Running Lead ManagersIIFL Capital Services Limited, JM Financial Limited
Registrar (RTA)MUFG Intime India Private Limited

Gaja Alternative Asset Management Limited FAQ

For more amazing blogs click here (IPO Corner).

facebookShare on Facebook
TwitterPost on X
FollowFollow us
PinterestSave

Leave a comment

RSS
Follow by Email
Facebook
X (Twitter)
Pinterest
Instagram
Telegram
WhatsApp