Last updated: Tue, Oct 27, 2026, 5:00 PM IST · mainboard IPO · NSE & BSE · Day 2 of 3
- EAAA India Alternatives IPO subscribed 0.27x overall on Day 2, up from 0.11x on Day 1
- Total bids: 14,38,623 shares against 52,99,684 shares on offer
- Category-wise: QIB 0.45x, NII 0.43x, Retail 0.10x
- Price band: ₹1585 to ₹1665 per share
- The issue closes on Wed, Oct 28, 2026
The EAAA India Alternatives IPO reached a subscription multiple of 0.27x on day 2 of 3 trading days, as of 5:00 PM IST on October 27, 2026. The total number of bids stood at 14,38,623 shares against 52,99,684 shares offered. The qualified institutional buyers (QIB) category, which includes financial institutions and mutual funds, led the subscription at 0.45x. This marks an increase from the 0.11x overall subscription recorded on the first day.
EAAA India Alternatives IPO Subscription Status: Day 2
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 |
| Day 2 | Tue, Oct 27, 2026 | 14,38,623 | 239.53 | 0.27x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) | Day 2 bids | Day 2 (x) |
|---|---|---|---|---|---|
| QIB | 15,14,195 | 1,20,150 | 0.08x | 6,87,483 | 0.45x |
| NII | 11,35,647 | 3,61,899 | 0.32x | 4,88,673 | 0.43x |
| of which individual NII | — | 3,58,101 | — | 4,84,749 | — |
| of which corporate NII | — | 1,386 | — | 1,386 | — |
| of which other NII | — | 2,412 | — | 2,538 | — |
| Retail | 26,49,842 | 1,07,370 | 0.04x | 2,62,467 | 0.10x |
| Total | 52,99,684 | 5,89,419 | 0.11x | 14,38,623 | 0.27x |
The subscription spread shows that no category has fully covered its quota yet. QIBs led the bidding with 0.45x, followed closely by non-institutional investors (NII) at 0.43x. Retail investors recorded the lowest interest at 0.10x. The day-on-day increase in total subscription from 0.11x to 0.27x reflects participation across all three investor segments.
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. |
| Registrar | 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 managing long-term capital. As per the DRHP, the company reports an AUM of ₹655,039.75 million as of September 30, 2025. It operates a multi-strategy platform across two primary verticals: Real Assets, which invests in infrastructure and commercial real estate, and Private Credit, which focuses on debt or convertible debt instruments. The company serves a diverse client base including global and domestic institutional investors, ultra-high net worth individuals, and family offices. Revenue is generated primarily through management and advisory fees, GP income, and variable additional return.
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 36.1% in FY 2024-25 and 1197.3% in FY 2025-26. Profit after tax increased 31.2% in FY 2024-25 and 1054.1% in FY 2025-26. The company reported a debt-to-equity ratio of 0.18x at the end of FY 2025-26, with total borrowings rising to ₹1,910.27 crore in that same fiscal year.
Risk Factors as per the DRHP
- The company faces significant dependence on management and advisory fees, GP income, and variable additional return, which accounted for a substantial portion of its revenue streams.
- Historical growth rates may not be indicative of future performance, as the company notes that past financial results do not guarantee similar outcomes in subsequent periods.
- The valuation of certain assets involves subjectivity, which could lead to discrepancies between recorded values and actual market realizations during liquidation or exit events.
- The company is subject to extensive regulatory requirements, and any failure to comply with these could impact operations or lead to legal and financial penalties.
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 Tue, Oct 27, 2026, 5:00 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.