EAAA India Alternatives IPO Day 1: Subscribed 0.11x; NII Demand at 0.32x
Key Highlights
EAAA India Alternatives IPO (₹882 crore mainboard IPO) was subscribed 0.11x on Day 1 of 3, with NII at 0.32x.
Last updated: Mon, Oct 26, 2026, 10:30 PM IST · mainboard · & · Day 1 of 3
- EAAA India Alternatives IPO subscribed 0.11x overall on Day 1
- Total bids: 5,89,419 shares against 52,99,684 shares on offer
- Category-wise: 0.08x, 0.32x, 0.04x
- Price band: ₹1585 to ₹1665 per share
- The issue closes on Wed, Oct 28, 2026
The EAAA India Alternatives IPO opened for subscription on day 1 of 3 trading days. The issue reached an overall subscription multiple of 0.11x as of 10:30 PM IST on October 26, 2026. The non-institutional investors (NII) category, which includes individuals bidding above ₹2 lakh, emerged as the most-bid segment at 0.32x.
EAAA India Alternatives IPO Status: Day 1
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Mon, Oct 26, 2026 | 5,89,419 | 98.14 | 0.11x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) |
|---|---|---|---|
| QIB | 15,14,195 | 1,20,150 | 0.08x |
| NII | 11,35,647 | 3,61,899 | 0.32x |
| of which individual NII | — | 3,58,101 | — |
| of which corporate NII | — | 1,386 | — |
| of which other NII | — | 2,412 | — |
| Retail | 26,49,842 | 1,07,370 | 0.04x |
| Total | 52,99,684 | 5,89,419 | 0.11x |
Investors bid for 5,89,419 shares against the 52,99,684 shares on offer. The NII category led the subscription at 0.32x, while qualified institutional buyers (QIB) subscribed to 0.08x of their quota. Retail investors, or those bidding up to ₹2 lakh, subscribed to 0.04x of the shares reserved for them.
EAAA India Alternatives IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Mon, Oct 26, 2026 to Wed, Oct 28, 2026 |
| Listing date | To be announced |
| Face value | ₹5 per share |
| Price band | ₹1585 to ₹1665 per share |
| Lot size | 9 shares |
| Total issue size | 52,99,684 shares (₹882 crore) |
| Listing at | NSE & BSE |
| Lead managers | Axis Capital Ltd., Jefferies India Pvt Ltd., Motilal Oswal Investment Advisors Pvt Ltd, Nuvama Wealth Management Ltd. |
| MUFG Intime India Pvt Ltd. |
About EAAA India Alternatives
EAAA India Alternatives Ltd. is an alternatives platform in India with over 15 years of experience. As per the DRHP, the company manages an of ₹655,039.75 million as of September 30, 2025. It operates a multi-strategy platform across two verticals: Real Assets, which invests in infrastructure and commercial real estate, and Private Credit, which focuses on debt or convertible debt instruments. The firm serves a client base of global and domestic institutional investors, ultra-high net worth individuals, and family offices. is generated primarily through management fees, advisory fees, GP income, and variable additional returns.
EAAA India Alternatives Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Revenue from operations (₹ crore) | 8,695.40 | 670.26 | 492.58 |
| Total income (₹ crore) | 9,637.59 | 786.54 | 587.90 |
| Profit after tax (₹ crore) | 2,651.97 | 229.78 | 175.16 |
| Net worth (₹ crore) | 10,755.36 | 966.45 | 499.48 |
| Total borrowings (₹ crore) | 1,910.27 | 165.83 | 267.98 |
Revenue from operations grew from ₹492.58 crore in FY 2023-24 to ₹670.26 crore in FY 2024-25, and further to ₹8,695.40 crore in FY 2025-26. Profit after tax rose from ₹175.16 crore in FY 2023-24 to ₹229.78 crore in FY 2024-25, reaching ₹2,651.97 crore in FY 2025-26.
Risk Factors as per the DRHP
- The company faces risks related to its dependence on management and advisory fees, GP income, and variable additional return, which accounted for a significant portion of its revenue.
- Historical growth rates may not be indicative of future performance, and the company notes that valuation subjectivity for certain assets could impact its financial reporting.
- Material risks include the potential failure of clients to honor capital calls, extensive regulatory requirements, and liquidity risks that may limit access to credit for the firm.
- The company faces potential conflicts of interest with its promoters and directors, alongside risks associated with the underperformance of funds managed across its business verticals.
How to Check EAAA India Alternatives IPO Subscription Status
Live bidding figures are published by NSE & BSE while the issue is open. Once it closes, allotment status is published by the registrar, MUFG Intime India Pvt Ltd. (https://in.mpms.mufg.com/).
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Mon, Oct 26, 2026, 10:30 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.