Rs. 550 Cr IPO Opens Tomorrow: Check IPO GMP, Lot Size & Price Band & Should You Apply Or Not?

Gaja Alternative Asset Management's IPO opens tomorrow, with the issue receiving a muted response in the grey market. The issue is worth Rs. 550.00 crore and is a mix of both a fresh issue of 2.81 crore shares worth Rs.450 crore and an offer for sale of 0.63 crore shares worth Rs. 100 crore.

The three-day bidding window for the gaja alternative ipo will open tomorrow and will close on Aug 21. The allotment of shares will be done on August 24th, while the shares are expected to be listed on both BSE & NSE ON August 26th.

Gaja Alternative Asset Management IPO Details

The price band for the IPO is set at Rs. 152 to Rs. 160 per share, and the minimum investment a retail investor can make is Rs.14,880 for one lot, which is 93 shares.

JM Financial Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue. Ahead of the issue opening, the Gaja Alternative Asset Management IPO GMP is muted at Rs. 5, indicating limited grey-market premium and an estimated listing gain of around 3% at the upper end of the price band.

The IPO comprises a fresh issue of Rs. 450 crore and an offer for sale (OFS) of Rs. 100 crore.

The Gaja Alternative Asset Management IPO price band has been fixed at Rs. 152 to Rs. 160 per share. The IPO lot size is 93 shares, meaning retail investors will need a minimum investment of Rs. 14,880 at the upper price band.

The issue will open on August 19 and close on August 21. The Gaja Alternative Asset Management IPO allotment is expected to be finalised on August 24, while the shares are tentatively scheduled to list on the NSE and BSE on August 26th.

The fresh issue proceeds are proposed to be used towards the company's sponsor commitments to certain existing and new funds, repayment of a bridge loan and general corporate purposes.

About Gaja Alternative Asset Management

Gaja Alternative Asset Management is an independent, founder-led Indian alternative asset management company with more than two decades of experience. Founded in 1999, the company manages India-focused private equity funds and alternative investment funds, with investments across sectors including education, financial services, consumer and digital technology.

Should You Subscribe to Gaja Alternative Asset Management IPO?

The Capital Market report has given a relatively balanced view of the IPO and stated: "Low risk low return or Moderate risk, moderate/high return. So investors may subscribe."