Gaja Alternative Asset Management mobilises Rs 165 crore from anchor investors

Gaja Alternative Asset Management Ltd, which operates under the Gaja Capital brand, on Tuesday raised Rs 165 crore from anchor investors, ahead of its initial public offering (IPO) opening on Wednesday.

The company allotted around 1.03 crore equity shares to anchor investors at Rs 160 per share, the upper end of the price band, according to a notice uploaded on the BSE website.

Nippon India Mutual Fund and Invesco Mutual Fund led the anchor book with investments of Rs 30 crore each. HDFC Life and SBI Life were among the other institutional investors.


Seasoned investors, including Akash Bhansali through Winro Commercial (India) Ltd, Mukul Agarwal through Sanshi Fund I, and Ashish Kacholia through Bengal Finance, also participated in the anchor allocation.

Bhansali had also participated in Gaja Alternative Asset Management's pre-IPO round last year.

Following the anchor allocation, the company's Rs 550-crore IPO will open for public subscription on August 19 and close on August 21. The price band has been fixed at Rs 152-160 per equity share.

At the upper price band, the company will have a market capitalisation of around Rs 2,256 crore.

The public issue comprises a fresh issue of equity shares aggregating up to Rs 450 crore and an offer for sale (OFS) of shares worth up to Rs 100 crore.

The company has trimmed the IPO size from the earlier proposed issue of over Rs 656 crore.

Proceeds from the fresh issue will be used for repayment of debt, seeding new funds and general corporate purposes.

Gaja Capital, founded in 2004, is a private equity and alternative asset management firm focused on providing growth capital to entrepreneurs. The firm has invested across sectors including education, consumer and financial services.

Its investment portfolio includes companies such as TeamLease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Educational Initiatives, LeadSquared and Signzy.

In January 2025, the company converted from a private limited company into a public limited company and was renamed Gaja Alternative Asset Management Ltd.

The equity shares are proposed to be listed on both the BSE and NSE on August 26.