Gaja Capital Raises Rs 165 Cr from Anchor Investors Ahead of IPO

Gaja Alternative Asset Management has successfully secured Rs 165 crore from anchor investors, a critical step completed ahead of its initial public offering.

The firm allotted 1.03 crore shares to 20 investors at a price of Rs 160 per share. This allocation was at the upper end of its IPO price band, signaling strong pre-market demand.

Key Anchor Figures

• Total capital raised from anchor investors: Rs 165 crore.
• Number of shares allocated: 1.03 crore.
• Share price: Rs 160 per share.
• Total participating investors: 20.
• Allocation to mutual funds: 65.15%.
• Allocation to life insurers: 16.66%.

A substantial portion of this anchor allocation, specifically 65.15%, was secured by mutual funds. Life insurers accounted for another 16.66%, demonstrating significant interest from domestic long-term institutions.

Collectively, these institutions acquired nearly 82% of the total anchor book. This strong institutional backing is a key indicator for the upcoming public issue.

Nippon India Banking and Financial Services Fund led the institutional investments, committing Rs 30 crore. Other notable participants included Invesco India, HDFC Life, SBI Life, and Bajaj Life, all of whom were allotted shares.

The anchor investor list also featured investment vehicles associated with prominent individual market investors. Mukul Agarwal, Ashish Kacholia, and Akash Bhansali were among those whose associated entities participated in this allocation.

IPO Subscription Details

Gaja Capital’s initial public offering is scheduled to commence its subscription period on August 19. The offering will then conclude on August 21, with JM Financial and IIFL Capital Services jointly managing the issue.