Gaja Capital shares debut with 16% premium over IPO price

Gaja Alternative Asset Management made a strong stock market debut on Wednesday, with shares listing at approximately ₹185 on both the BSE and NSE. This represents a premium of roughly 15.6% to 16% over the IPO issue price of ₹160.

The ₹550 crore public offering saw significant demand, with total bids reaching approximately 31.33 times the available shares. Non-institutional investors led the subscription at 62.35 times, while qualified institutional buyers subscribed 43.58 times. Retail investors subscribed 11.04 times.

Anchor investors included Nippon India Mutual Fund and Invesco Mutual Fund, which each invested ₹30 crore. Other participating institutions included HDFC Life and SBI Life. The company operates as an India-focused alternative asset manager, generating income through management fees, carried interest, and investment returns.