Gaja Capital IPO: Rs 165 Cr Anchor Funding Secured

Gaja Capital has secured Rs 165 crore from anchor investors, allotting approximately 1.03 crore equity shares at Rs 160 each. This pre-IPO funding precedes its Rs 550 crore Initial Public Offering, set to open from August 19 to August 21, with listing slated for August 26.

Key Figures

• Anchor Investment: Rs 165 crore
• IPO Size: Rs 550 crore
• Shares Allotted to Anchors: 1.03 crore equity shares
• Share Price for Anchors: Rs 160 per share
• Price Band: Rs 152 to Rs 160 per equity share
• Projected Market Cap: Rs 2,256 crore (at upper band)

The anchor round saw significant participation from both institutional players and seasoned individual investors. Each equity share was allocated at Rs 160, which represents the upper limit of the IPO’s defined price band.

Anchor Investor Breakdown

• Nippon India Mutual Fund: Rs 30 crore
• Invesco Mutual Fund: Rs 30 crore
• HDFC Life
• SBI Life
• Akash Bhansali (via Winro Commercial (India) Ltd)
• Mukul Agarwal (via Sanshi Fund I)
• Ashish Kacholia (via Bengal Finance)

Notably, Akash Bhansali had also invested in Gaja Alternative Asset Management’s pre-IPO round during the previous year. This indicates continued investor confidence in the firm’s trajectory.

IPO Structure & Allocation

The public issue is structured with a fresh issue of equity shares amounting to Rs 450 crore and an Offer for Sale (OFS) of shares valued at up to Rs 100 crore. This overall size marks a reduction from the initial IPO plan of over Rs 656 crore.

Fresh Issue Fund Utilization

• Debt repayment
• Seeding new funds
• General corporate purposes

Established in 2004, Gaja Capital operates as a private equity and alternative asset management firm focused on providing growth capital to entrepreneurs. Its investment activities span key sectors, including education, consumer, and financial services.

Company Portfolio Highlights

• TeamLease
• Lighthouse Learning
• RBL Bank
• John Distilleries
• Xpressbees
• Educational Initiatives
• LeadSquared
• Signzy

The company transitioned from a private to a public limited entity in January 2025, subsequently adopting the name Gaja Alternative Asset Management Ltd. Equity shares are slated for listing on both the BSE and NSE on August 26.