Gaja Capital IPO: ₹550 Cr Issue Opens, Bidding Closes Aug 21
By IPO Desk
Gaja Capital’s ₹550 crore IPO launched August 19, with bids closing August 21. Priced between ₹152-₹160, the issue includes anchor investor backing.
Gaja Capital’s Initial Public Offering (IPO) commenced on August 19, aiming to raise ₹550 crore through a three-day subscription period. Bidding for the offering is set to conclude on August 21.
The IPO comprises new shares valued at ₹450 crore, supplemented by an additional ₹100 crore from existing shareholders, bringing the total offering to ₹550 crore. Investors can bid for shares within a price band of ₹152 to ₹160, with a minimum application requiring 93 shares.
Anchor Investor Engagement
The offering has already secured substantial pre-IPO investment, with major mutual funds and insurers collectively injecting ₹165 crore as anchor investors. This significant backing precedes the public subscription period.
Gaja Capital has demonstrated strong financial performance leading up to the IPO, reporting a 33.8% increase in profit this year. The company also saw a rise in its revenue during the same period.
Analyst Recommendations
Brokerages, including SBI Securities and Anand Rathi, have issued recommendations to subscribe to the IPO. They highlight Gaja Capital’s robust track record within India’s alternative investment sector and its potential for long-term growth.
Key Timeline
- Allotment of shares: August 24
- Stock exchange listing: August 26