BSE List Price : ₹

NSE List Price : ₹

subscription

Category	Times
QIBs	45.87x
HNIs	65.63x
Retail	11.62x
Total : 32.98x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	93	₹14,880
Retail Maximum	13	1,209	₹193,440
S-HNI Minimum	14	1,302	₹208,320
S-HNI Maximum	67	6,231	₹996,960
B-HNI Minimum	68	6,324	₹1,011,840

About the Company

Gaja Alternative Asset Management, established in 2004, is a growing alternative asset management company with more than two decades of industry experience. It is an experienced, independent, and home-grown alternative asset management company (“AMC”) operating under the brand name ‘Gaja Capital’. The company manages two categories of alternative investment funds, namely Category I and Category II funds. In addition, the firm assists foreign investors in making investments in Indian companies.

As an independent and home-grown platform, the company operates its business independently without the control or backing of any large corporate organization. Its primary sources of income include management fees, carried interest, and returns generated from investments made as a sponsor. The company has maintained profitability over the years, with its profit witnessing significant growth between FY2023 and FY2025.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2024	₹103.96	₹48.98	₹44.74	₹388.60
2025	₹123.31	₹64.47	₹61.95	₹451.87
2026	₹157.80	₹70.39	₹81.96	₹706.49

Company Promoter

Mr. Gopal Jain

Mr. Ranjit Jayant Shah

Mr. Imran Jafar

Ms. Chitra Jain

Ms. Mona Ranjit Shah

Know before investing

• • Strengths

  Established Alternative Asset Management Platform: Gaja Capital has built an established presence in the alternative asset management space, supported by a differentiated business model aimed at enhancing enterprise value. The company provides investment management and advisory services to India-focused funds.

  Participation in a Growing Alternative Asset Management Market: The company operates within India’s expanding alternative asset management industry, offering opportunities for continued growth and scalability. Its focus on India-oriented investments enables it to participate in the growth and development of businesses across various sectors.

• • Risks

  Reliance on Fund Performance: The company’s overall income is closely linked to the performance of the funds it manages and advises. Its revenues are generated through management fees, carried interest, and income from sponsor commitments. Management fees accounted for 38.07%, 46.65%, and 72.96% of total income in Fiscals 2026, 2025, and 2024, respectively.

  Uncertainty Around Sustainability of Historical Fund Returns: The past performance and returns generated by the funds managed or advised by the company may not necessarily be replicated in the future. Additionally, returns from such investments may take longer to materialize due to the investment horizon and lifecycle associated with alternative investment funds.

Objects of the Issue & Utilisation of proceeds

Investing towards our Sponsor Commitments to certain existing funds, new funds and for repayment of the Bridge Loan Amount as follows:.

(a) investing towards our balance Sponsor Commitment to the following constituent funds of Fund IV and Bridge Loan Amount.
(i) Gaja Capital India Fund 2020 LLP;
(ii) Gaja Capital India Fund 2020; and.
(iii) Bridge Loan Amount.

(b) investing towards our Sponsor Commitment to the proposed Fund V; and.

(c) investing towards our Sponsor Commitment to the Secondaries Fund.

General corporate purposes.

Company  Address

Gaja Alternative Asset Management Ltd.
302, 3rd Floor, Kanchenjunga Building,
18, Barakhamba Road,
Connaught Place, Central Delhi,
New Delhi, New Delhi, 110001
Phone: +91 91368 89894
Email: compliance@gajacapital.com
Website: http://www.gajacapital.com/

IPO Registrar

MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: gajaalternative.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html