Gaja Alternative Asset Management IPO

Gaja Alternative Asset Management Limited has officially submitted its Updated Draft Red Herring Prospectus-1 (UDRHP-1) for its upcoming IPO dated December 4, 2025.

Gaja Alternative Asset Management IPO comprises a new issuance in equity shares up to a maximum value of ₹549.2 crores, besides an offer for sale of equity shares up to a maximum value of ₹107.00 crores. Equity shares with a face value of ₹5 per share aggregating up to a maximum value of ₹656.20 crores would be listed on NSE & BSE. While the price band and subscription dates shall be announced closer to the launch.

The Book Running Lead Managers (BRLM) for the Gaja Alternative Asset Management IPO are JM Financial Limited and IIFL Capital Services Limited. MUFG Intime India Private Limited serves as the registrar, handling the critical allotment and refund processes for the Gaja Alternative Asset Management IPO.

Company Background

Gaja Alternative Asset Management Limited was originally incorporated on April 9, 1999, under the name 'View Advisors Private Limited.' In more than two decades, the company has managed to change its name several times, namely Gaja Advisors Private Limited in 2006 and Gaja Alternative Asset Management Private Limited in 2022. The company was able to migrate to a public limited company on January 1, 2025. Gaja Alternative Asset Management Limited consists of its registered office in Connaught Place, New Delhi, along with its corporate office in Lower Parel, Mumbai.

Operations & Product Range

The firm is a well-established alternative asset management company (AMC) with about 20 years of experience. Gaja Alternative Asset Management Limited acts as an investment manager for India-focused funds, Category I and II Alternative Investment Funds (AIFs), among others, while acting as an advisor to some of the offshore funds. Its expertise was gained over several investment cycles with a clear private markets focus to create value for its investors.

Revenue Streams and Business Model

Gaja Alternative Asset Management Limited generates income through management fees, performance-linked profits (carried interest), and returns on its own capital invested in its funds. Their business focuses on long-term growth and buyout deals in Indian mid-market sectors like education and finance. As an operational partner, they provide strategic guidance and significant "skin in the game" to drive value.

Management & Shareholding

Promoters & Shareholding

Promoters of Gaja Alternative Asset Management IPO include Gopal Jain, Ranjit Jayant Shah, Imran Jafar, Chitra Jain, and Mona Ranjit Shah. Just prior to the offer, Gopal Jain had been holding a share of about 22.41% in Gaja Alternative Asset Management. ISS & Other Stakeholders

Some promoters & other stakeholders in the Gaja Alternative Asset Management IPO are participating in the OFS segment.

Board & Key Management

The board and key management structure is headed by its promoters, with Mr. Gopal Jain as the Managing Director and Chief Executive Officer. Other key management personnel include Mr. Abhinav Jain as the Chief Financial Officer and Ms. Ishu Jain as the Company Secretary and Compliance Officer.