Gaja Alternative Asset Management Ltd IPO
Status: Closed
Overview
IPO date
19 Aug 2026 to 21 Aug 2026
Face value
₹ 5 per share
Price
₹ 152 to ₹160 per share
Issue Size
34,375,000 shares
(aggregating up to ₹ 550 Cr)
(aggregating up to ₹ 550 Cr)
Allotment Date
24 Aug 2026
Listing at
NSE
Issue type
Book Building
Sector
Finance
Unlock Stock of the Month
T&C*
Strengths vs Risks of Gaja Alternative Asset Management Ltd
Know the pros & cons
Strengths
- Well established alternative AMC with a differentiated business model focused on driving the enterprise value of our Company.
- Proven track-record of delivering consistent performance across the Gaja Capital Funds.
- Focus on the high-growth alternative asset management industry in India with significant headroom to scale.
- Invest-and-collaborate approach with a key focus on value addition to portfolio companies of the Gaja Capital Funds.
- Ensuring skin-in-the game and alignment of interest with the investors of the Gaja Capital Funds.
- Experienced Promoters and management team.
- Long-standing and well-established industry relationships with a diverse global investor base across the Gaja Capital Funds.
- Proven track record of delivering robust financial growth and a strong balance sheet.
Risks
- The company's total income is dependent on the performance of the funds managed and advised by it. The company derives its total income from Management Fee, Carried Interest and Income from Sponsor Commitment and the company's total income during Fiscals 2026, 2025, and 2024 included Management Fee from the funds managed and advised by it and was 38.07%, 46.65% and 72.96% of the company's total income, respectively.
- The historical returns attributable to the funds managed and advised by it should not be considered as indicative of the future results of such funds or of the future funds and the returns the company may generate may be prolonged on account of the nature of these funds and may not be similar to what its may have generated historically.
- The timing and receipt of Carried Interest from the funds managed and advised by the company unpredictable and will contribute to the volatility of its cash flows. The company's Carried Interest was Rs.754.11 million and 47.79% of its total income for Fiscal 2026 and Rs.644.26 million and 52.25% of the company's total income in Fiscal 2025.
- Valuation methodologies for certain assets of the funds managed and advised by it can be susceptible to significant subjectivity and the derived values of assets may not be realized, which could result in significant losses for such funds. The fair market value of Sponsor Commitments in Gaja Capital Funds was Rs.2,436.23 million, Rs.2,015.42 million and Rs.2,204.75 million for Fiscals 2026, 2025 and 2024, respectively.
- The company's inability to raise sufficient capital from Limited Partners or their inability to honor capital calls in relation to the funds managed and advised by it could adversely affect the company's results of operations, financial condition and cash flows.
- The company, along with the funds managed and advised by the company, subject to securities regulation and any failures to comply with these regulations could subject it to penalties or sanctions.
- The auditor's report to the standalone financial statements of the Company as of and for the Fiscals ended March 31, 2026 and March 31, 2025 makes reference to certain matters of emphasis and the auditor's report to the consolidated financial statements of the Company as of and for the Fiscals ended March 31, 2026, March 31, 2025 and March 31, 2024, make reference to an adverse remark. Its cannot assure that the company's financial information for future periods will not contain such adverse remarks.
- The company has operations in foreign countries through its Subsidiaries in Cayman Islands and Mauritius, which exposes it to risks inherent to operations in foreign jurisdictions.
- The company enters into certain related party transactions in the ordinary course of its business and the company cannot assure you that such transactions will not adversely affect its financial condition and results of operations.
- One of the members of the company's Promoter Group, Johrilal Jain, has not provided his consent to be identified as a member of its Promoter Group and has not provided any information in respect of himself and his relevant entities as Promoter Group.
- Illiquidity of the company's investments may adversely affect its business, financial condition, and results of operations, and impact the company's ability to meet Sponsor Commitments to the funds managed and advised by it. As of March 31, 2026, the company's fair market value of Sponsor Commitments to Gaja Capital Funds was Rs.2,436.23 million.
- The funds managed and advised by it typically make minority investments which leads them to invest in portfolio companies that they does not control. Any adverse business decision(s) by the management of such portfolio companies may lead to a fund's underperformance and consequently lower returns resulting in lower Carried Interest and Income from Sponsor Commitment.
- The name of one of the company's Promoters, Gopal Jain, appears in the RBI list of "defaults above Rs. 1 crore under Non-Suit Filed Accounts" in connection with his erstwhile nominee directorship on another entity's board of directors. The company's business, financial condition, results of operations and prospects may be adversely affected if any adverse action is taken against Gopal Jain by any financial institution or regulatory authorities in relation to such defaults.
- The "Clawback" provisions in the governing agreements of the Fund IV may give rise to a contingent obligation that may requires the company to return the Carried Interest to the Limited Partners.
- The Portfolio Companies may engage in transactions in or with countries or persons that is subject to U.S. and other sanctions.
- The company may be unable to manage its growth or to successfully implement the company's business strategies. Its revenue from operations was Rs.1,355.31 million and Rs.1,219.99 million for Fiscal 2026 and Fiscal 2025, respectively.
- Majority of the Portfolio Companies of the Gaja Capital Funds are located in India. The company's business is therefore significantly affected by fluctuations in the general economic activity in western and southern India. As of March 31, 2026 and March 31, 2025, 94.44% and 93.33%, respectively of the Portfolio Companies of the Gaja Capital Funds were based in India.
- The Company is subject to SEBI AIF Regulations, 2012, as amended ("SEBI AIF Regulations") and any failures to comply with these regulations could subject it to penalties.
- The company's performance is dependent on the performance of the funds managed and advised by it.
- Any failures in setting up of the proposed funds could adversely affect the company's results of operations, financial condition and cash flows.
- As of March 31, 2026, the company's top 10 Limited Partners contributed approximately 63.42% of its total commitments in Fund IV. This makes it reliant on a limited number of Limited Partners and exposes the company to concentration risks, which could impact the performance and stability of the funds managed and advised by it.
- The company is highly dependent on its Promoters, the company's Key Managerial Personnel and its Senior Management. Any inability on the company's part to retain or recruit skilled personnel could adversely affect its business, results of operations and financial condition.
- The company is dependent on the performance of the industries in which the portfolio companies of the funds managed and advised by it operates. The investments of the funds managed and advised by the company significantly focused in the EEE, financial services, consumer and digital technology industries. Managing new funds may expose it to challenges and risks that may adversely affect the company's business, financial condition and results of operations.
- The company's ability to raise capital commitments for the new funds could be adversely affected if the appeal of private equity and alternative investments were to decline in the market.
- The ability to raise capital in the alternative asset management industry is subject to certain regulatory requirements which may adversely affect the company's results of operations, financial condition and cash flows.
- The company is subject to certain risks associated with the actions of its third-party distributors. Any mismanagement in handling the company's relationships with its distributors (i.e., placement agents) could adversely affect its business, financial condition and results of operations. The company has raised Rs.844.92 million funds through its distributors in Fiscal 2024.
- There are outstanding legal proceedings involving the Company, Subsidiaries, Directors, Promoters and Key Managerial Personnel. Any adverse outcome in such proceedings may adversely affect its reputation, business, results of operations, cash flows and financial condition.
- The alternative asset management business is highly competitive.
- The investments of the funds managed and advised by the company in the Portfolio Companies is subject to a number of inherent risks which could adversely affect its business, prospects, financial condition, results of operations and cash flows.
- Any failures to protect the company's intellectual property rights could adversely affect its competitive position, business, financial condition and results of operation.
- The objects of the Fresh Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of the company's Net Proceeds as disclosed in this Red Herring Prospectus would be subject to certain compliance requirements, including a shareholders' approval.
- The Company will not receive any proceeds from the Offer for Sale and the proceeds from the Offer for Sale will be paid to the Selling Shareholders.
- The average cost of acquisition of Equity Shares for the company's Selling Shareholders may be lower than the Offer Price.
- The company's Corporate Office and the Registered Office are located on premises not owned by it and has been leased to the company. Any non-renewal of the lease may lead to disruptions and affect its business operations.
- The company's inability to make timely payment of its statutory dues may result in imposition of penalties, payment of additional interest which in turn may have an adverse effect on the company's business, its results of operations, cash flows and financial condition. The company has paid an aggregate amount of Rs.286.59 million and Rs.225.78 million towards statutory due payments for Fiscals 2026 and Fiscal 2025, respectively.
- The company's business operations may be adversely affected if the company encounters challenges in the processes of Limited Partner onboarding and offboarding. Any failures to provide the Limited Partners of the funds managed and advised by it with key updates may result in regulatory and reputational consequences and could adversely affect its business, results of operations, financial condition and cash flows.
- The due diligence process that the company undertakes in connection with investments by the funds managed and advised by it may not reveal all facts that may be relevant in connection with an investment. This may result in lower returns of the funds and thereby lower Carried Interest and lower Income from Sponsor Commitment.
- The company has experienced certain instances of negative cash flows from operating, investing and financing activities in recent years. Any negative cash flows in the future would affect its cash flow requirements, which may adversely affect the company's ability to operates its business and implement the company's growth plans, thereby affecting its financial condition.
- Any downturn in the macroeconomic environment in India could adversely affect the company's business, results of operations, cash flows and financial condition.
- Failures to detect and deter misconduct of the company's Directors, employees, distributors (i.e., placement agents) or other third-party service providers could harm its brand and the company's reputation or lead to regulatory fines or litigation against it.
- The company may faces operational issues while deploying its funds, which could negatively impact the returns from investments.
- The company's risk management procedures, and internal controls may not be adequate or effective in identifying or managing risks to which the company is exposed, and this could have a material adverse effect on its business, financial condition and results of operations.
- Industry information included in this Red Herring Prospectus has been derived from the Crisil Report, which was prepared by Crisil Intelligence and exclusively commissioned and paid for by the Company for the purposes of the Offer, and any reliance on information from the Crisil Report for making an investment decision in the Offer is subject to inherent risks.
- The company's funding requirements and proposed deployment of the Net Proceeds are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
- The company may faces conflicts of interest with entities or ventures in which the Directors of the Company and Subsidiaries have an interest and which operates in the same line of business as that of the Company.
- This Red Herring Prospectus includes certain Non-GAAP Measures, financial and operational performance indicators and other industry measures related to the company's operations and financial performance. The Non-GAAP Measures and industry measures may vary from any standard methodology that is applicable across the Indian alternative asset management industry and, therefore, may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- The company is subject to impact of foreign exchange fluctuation. Any significant fluctuation in exchange rates may adversely affect its business, financial conditions, cash flows and results of operations.
- The company cannot assure the payment of dividends on the Equity Shares in the future.
- The company is subject to various laws and regulations governing its relationships with the company's employees.
- The company may be unable to obtain, maintain or renew its statutory and regulatory approvals, licenses, registrations and permits to operates its business in a timely manner, or at all.
- Ineffective or inadequate management of environmental, social and governance issues, or health and safety programs, could damage the company's reputation and, in turn, its business, financial condition and results of operations.
- The company has certain contingent liabilities and commitments which, if materialized, may adversely affect its results of operations, cash flows and financial condition.
- The company's financing arrangements contain certain restrictive covenants, and non-compliance with any of the covenants of its financing agreements could trigger an event of default.
- The company's insurance coverage may not be adequate to protect it against all material risks.
- The company will continue to be controlled by its Promoters after the completion of the Offer and there may be a conflict of interest between the interests of the company's Promoters and other shareholders.
- The company's Promoters, its Directors and Key Managerial Personnel have interests in the company's business other than the reimbursement of expenses incurred or normal remuneration or benefits.
- Negative publicity could damage the company's reputation and adversely impact its business and financial results.
- Any failures, or perceived failures, by it to comply with the applicable regulations on personal information protection could expose the company to proceedings and fines which may adversely affect its reputation, business, results of operations, cash flows and financial condition.
- Any non-compliance with mandatory anti-money laundering ("AML") and combating-terrorism financing ("CFT") laws could expose it to liability and harm the company's reputation.
- Any disruption or failures of the company's technology systems may adversely affect its business and operations. Additionally, challenges in implementation of new technologies for the company's operations could be significant.
Gaja Alternative Asset Management Ltd Peer Comparison
Understand the company’s industry standing
Gaja Alternative Asset Management Ltd
360 One WAM Limited
Aditya Birla Sun Life AMC Limited
Face Value
5
1
5
Standalone / Consolidated
Consolidated
Consolidated
Consolidated
Total Income Rs. Cr.
135.531
4361.62
1845.03
EPS-Basis
7.17
30.16
33.76
EPS-Diluted
7.17
29.19
33.68
NAV Per Share
53.73
242.17
139.94
P/E-Basic EPS
---
40.01
30.28
P/E-Diluted EPS
---
---
---
RONW(%)
13.13
12.37
24.13
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 19 Aug 2026 & closes on 21 Aug 2026.
Gaja Alternative Asset Management Limited was incorporated on April 9, 1999 in New Delhi, India as View Advisors Private Limited', with the Registrar of Companies, at New Delhi. Subsequently, the name of the Company was changed to Gaja Advisors Private Limited' dated June 8, 2006 and thereafter, to Gaja Alternative Asset Management Private Limited' dated July 5, 2022. Company was then converted into a public limited company and the name of the Company was changed to Gaja Alternative Asset Management Limited' A fresh certificate of incorporation, was issued by the Central Processing Centre on January 1, 2025.
The Company act as an investment manager to India focused funds, including category II and category I AIFs, and also act as advisors to offshore funds, which provide capital to companies in India. As an experienced, independent and home-grown alternative asset management company (AMC), Company has navigated various investment cycles across funds.
Shortly, after the liberalization of the economy in early 1990's, the private equity funds started investing in the Indian market. The Company commenced initial investment management and advisory operations with a set of four investments made on a deal-by-deal basis between 2005 and 2007. The latest fund, Fund IV, the Gaja Capital Funds was formed in FY2021. The Gaja Capital Funds have demonstrated consistent growth with the fund size of each subsequent fund larger than the preceding fund.
Fund III was formed in 2015 and was deployed by 2020 with ten investments and is in its exit phase with two partial realizations, as of September 30, 2025. All capital across our Prior Investments, Fund II and III, has primarily been deployed in the EEE, financial services and consumer sectors. Fund IV was formed in 2021 with an additional focus on the digital technology sector. As of September 30, 2025, Company had made 6 investments from Fund IV, deploying 62% of the total capital of the fund.
The Company has filed a Draft Prospectus with SEBI and is planning to raise funds aggregating an issuance of Rs 656.2 crores having the face value of Rs 5 each, comprising a fresh issue of Rs 549.2 crores and the offer for sale of Rs 107 crores.
Gaja Alternative Asset Management Ltd IPO will close on 21 Aug 2026.
- Well established alternative AMC with a differentiated business model focused on driving the enterprise value of our Company.
- Proven track-record of delivering consistent performance across the Gaja Capital Funds.
- Focus on the high-growth alternative asset management industry in India with significant headroom to scale.
- Invest-and-collaborate approach with a key focus on value addition to portfolio companies of the Gaja Capital Funds.
- Ensuring skin-in-the game and alignment of interest with the investors of the Gaja Capital Funds.
- Experienced Promoters and management team.
- Long-standing and well-established industry relationships with a diverse global investor base across the Gaja Capital Funds.
- Proven track record of delivering robust financial growth and a strong balance sheet.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Gopal Jain | 25295114 | 22.41 | 25295114 | 17.94 |
| 2 | Ranjit Jayant Shah jointly he | 21008400 | 18.61 | 19174025 | 13.6 |
| 3 | Imran Jafar | 10304120 | 9.13 | 9054120 | 6.42 |
| 4 | Gopal Jain jointly held with | 12705080 | 11.25 | 12705080 | 9.01 |
| 5 | Sudesh Jain | 10866845 | 9.63 | 10241845 | 7.26 |
- The company's total income is dependent on the performance of the funds managed and advised by it. The company derives its total income from Management Fee, Carried Interest and Income from Sponsor Commitment and the company's total income during Fiscals 2026, 2025, and 2024 included Management Fee from the funds managed and advised by it and was 38.07%, 46.65% and 72.96% of the company's total income, respectively.
- The historical returns attributable to the funds managed and advised by it should not be considered as indicative of the future results of such funds or of the future funds and the returns the company may generate may be prolonged on account of the nature of these funds and may not be similar to what its may have generated historically.
- The timing and receipt of Carried Interest from the funds managed and advised by the company unpredictable and will contribute to the volatility of its cash flows. The company's Carried Interest was Rs.754.11 million and 47.79% of its total income for Fiscal 2026 and Rs.644.26 million and 52.25% of the company's total income in Fiscal 2025.
- Valuation methodologies for certain assets of the funds managed and advised by it can be susceptible to significant subjectivity and the derived values of assets may not be realized, which could result in significant losses for such funds. The fair market value of Sponsor Commitments in Gaja Capital Funds was Rs.2,436.23 million, Rs.2,015.42 million and Rs.2,204.75 million for Fiscals 2026, 2025 and 2024, respectively.
- The company's inability to raise sufficient capital from Limited Partners or their inability to honor capital calls in relation to the funds managed and advised by it could adversely affect the company's results of operations, financial condition and cash flows.
- The company, along with the funds managed and advised by the company, subject to securities regulation and any failures to comply with these regulations could subject it to penalties or sanctions.
- The auditor's report to the standalone financial statements of the Company as of and for the Fiscals ended March 31, 2026 and March 31, 2025 makes reference to certain matters of emphasis and the auditor's report to the consolidated financial statements of the Company as of and for the Fiscals ended March 31, 2026, March 31, 2025 and March 31, 2024, make reference to an adverse remark. Its cannot assure that the company's financial information for future periods will not contain such adverse remarks.
- The company has operations in foreign countries through its Subsidiaries in Cayman Islands and Mauritius, which exposes it to risks inherent to operations in foreign jurisdictions.
- The company enters into certain related party transactions in the ordinary course of its business and the company cannot assure you that such transactions will not adversely affect its financial condition and results of operations.
- One of the members of the company's Promoter Group, Johrilal Jain, has not provided his consent to be identified as a member of its Promoter Group and has not provided any information in respect of himself and his relevant entities as Promoter Group.
- Illiquidity of the company's investments may adversely affect its business, financial condition, and results of operations, and impact the company's ability to meet Sponsor Commitments to the funds managed and advised by it. As of March 31, 2026, the company's fair market value of Sponsor Commitments to Gaja Capital Funds was Rs.2,436.23 million.
- The funds managed and advised by it typically make minority investments which leads them to invest in portfolio companies that they does not control. Any adverse business decision(s) by the management of such portfolio companies may lead to a fund's underperformance and consequently lower returns resulting in lower Carried Interest and Income from Sponsor Commitment.
- The name of one of the company's Promoters, Gopal Jain, appears in the RBI list of "defaults above Rs. 1 crore under Non-Suit Filed Accounts" in connection with his erstwhile nominee directorship on another entity's board of directors. The company's business, financial condition, results of operations and prospects may be adversely affected if any adverse action is taken against Gopal Jain by any financial institution or regulatory authorities in relation to such defaults.
- The "Clawback" provisions in the governing agreements of the Fund IV may give rise to a contingent obligation that may requires the company to return the Carried Interest to the Limited Partners.
- The Portfolio Companies may engage in transactions in or with countries or persons that is subject to U.S. and other sanctions.
- The company may be unable to manage its growth or to successfully implement the company's business strategies. Its revenue from operations was Rs.1,355.31 million and Rs.1,219.99 million for Fiscal 2026 and Fiscal 2025, respectively.
- Majority of the Portfolio Companies of the Gaja Capital Funds are located in India. The company's business is therefore significantly affected by fluctuations in the general economic activity in western and southern India. As of March 31, 2026 and March 31, 2025, 94.44% and 93.33%, respectively of the Portfolio Companies of the Gaja Capital Funds were based in India.
- The Company is subject to SEBI AIF Regulations, 2012, as amended ("SEBI AIF Regulations") and any failures to comply with these regulations could subject it to penalties.
- The company's performance is dependent on the performance of the funds managed and advised by it.
- Any failures in setting up of the proposed funds could adversely affect the company's results of operations, financial condition and cash flows.
- As of March 31, 2026, the company's top 10 Limited Partners contributed approximately 63.42% of its total commitments in Fund IV. This makes it reliant on a limited number of Limited Partners and exposes the company to concentration risks, which could impact the performance and stability of the funds managed and advised by it.
- The company is highly dependent on its Promoters, the company's Key Managerial Personnel and its Senior Management. Any inability on the company's part to retain or recruit skilled personnel could adversely affect its business, results of operations and financial condition.
- The company is dependent on the performance of the industries in which the portfolio companies of the funds managed and advised by it operates. The investments of the funds managed and advised by the company significantly focused in the EEE, financial services, consumer and digital technology industries. Managing new funds may expose it to challenges and risks that may adversely affect the company's business, financial condition and results of operations.
- The company's ability to raise capital commitments for the new funds could be adversely affected if the appeal of private equity and alternative investments were to decline in the market.
- The ability to raise capital in the alternative asset management industry is subject to certain regulatory requirements which may adversely affect the company's results of operations, financial condition and cash flows.
- The company is subject to certain risks associated with the actions of its third-party distributors. Any mismanagement in handling the company's relationships with its distributors (i.e., placement agents) could adversely affect its business, financial condition and results of operations. The company has raised Rs.844.92 million funds through its distributors in Fiscal 2024.
- There are outstanding legal proceedings involving the Company, Subsidiaries, Directors, Promoters and Key Managerial Personnel. Any adverse outcome in such proceedings may adversely affect its reputation, business, results of operations, cash flows and financial condition.
- The alternative asset management business is highly competitive.
- The investments of the funds managed and advised by the company in the Portfolio Companies is subject to a number of inherent risks which could adversely affect its business, prospects, financial condition, results of operations and cash flows.
- Any failures to protect the company's intellectual property rights could adversely affect its competitive position, business, financial condition and results of operation.
- The objects of the Fresh Issue for which the funds are being raised have not been appraised by any bank or financial institutions. Any variation in the utilization of the company's Net Proceeds as disclosed in this Red Herring Prospectus would be subject to certain compliance requirements, including a shareholders' approval.
- The Company will not receive any proceeds from the Offer for Sale and the proceeds from the Offer for Sale will be paid to the Selling Shareholders.
- The average cost of acquisition of Equity Shares for the company's Selling Shareholders may be lower than the Offer Price.
- The company's Corporate Office and the Registered Office are located on premises not owned by it and has been leased to the company. Any non-renewal of the lease may lead to disruptions and affect its business operations.
- The company's inability to make timely payment of its statutory dues may result in imposition of penalties, payment of additional interest which in turn may have an adverse effect on the company's business, its results of operations, cash flows and financial condition. The company has paid an aggregate amount of Rs.286.59 million and Rs.225.78 million towards statutory due payments for Fiscals 2026 and Fiscal 2025, respectively.
- The company's business operations may be adversely affected if the company encounters challenges in the processes of Limited Partner onboarding and offboarding. Any failures to provide the Limited Partners of the funds managed and advised by it with key updates may result in regulatory and reputational consequences and could adversely affect its business, results of operations, financial condition and cash flows.
- The due diligence process that the company undertakes in connection with investments by the funds managed and advised by it may not reveal all facts that may be relevant in connection with an investment. This may result in lower returns of the funds and thereby lower Carried Interest and lower Income from Sponsor Commitment.
- The company has experienced certain instances of negative cash flows from operating, investing and financing activities in recent years. Any negative cash flows in the future would affect its cash flow requirements, which may adversely affect the company's ability to operates its business and implement the company's growth plans, thereby affecting its financial condition.
- Any downturn in the macroeconomic environment in India could adversely affect the company's business, results of operations, cash flows and financial condition.
- Failures to detect and deter misconduct of the company's Directors, employees, distributors (i.e., placement agents) or other third-party service providers could harm its brand and the company's reputation or lead to regulatory fines or litigation against it.
- The company may faces operational issues while deploying its funds, which could negatively impact the returns from investments.
- The company's risk management procedures, and internal controls may not be adequate or effective in identifying or managing risks to which the company is exposed, and this could have a material adverse effect on its business, financial condition and results of operations.
- Industry information included in this Red Herring Prospectus has been derived from the Crisil Report, which was prepared by Crisil Intelligence and exclusively commissioned and paid for by the Company for the purposes of the Offer, and any reliance on information from the Crisil Report for making an investment decision in the Offer is subject to inherent risks.
- The company's funding requirements and proposed deployment of the Net Proceeds are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
- The company may faces conflicts of interest with entities or ventures in which the Directors of the Company and Subsidiaries have an interest and which operates in the same line of business as that of the Company.
- This Red Herring Prospectus includes certain Non-GAAP Measures, financial and operational performance indicators and other industry measures related to the company's operations and financial performance. The Non-GAAP Measures and industry measures may vary from any standard methodology that is applicable across the Indian alternative asset management industry and, therefore, may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- The company is subject to impact of foreign exchange fluctuation. Any significant fluctuation in exchange rates may adversely affect its business, financial conditions, cash flows and results of operations.
- The company cannot assure the payment of dividends on the Equity Shares in the future.
- The company is subject to various laws and regulations governing its relationships with the company's employees.
- The company may be unable to obtain, maintain or renew its statutory and regulatory approvals, licenses, registrations and permits to operates its business in a timely manner, or at all.
- Ineffective or inadequate management of environmental, social and governance issues, or health and safety programs, could damage the company's reputation and, in turn, its business, financial condition and results of operations.
- The company has certain contingent liabilities and commitments which, if materialized, may adversely affect its results of operations, cash flows and financial condition.
- The company's financing arrangements contain certain restrictive covenants, and non-compliance with any of the covenants of its financing agreements could trigger an event of default.
- The company's insurance coverage may not be adequate to protect it against all material risks.
- The company will continue to be controlled by its Promoters after the completion of the Offer and there may be a conflict of interest between the interests of the company's Promoters and other shareholders.
- The company's Promoters, its Directors and Key Managerial Personnel have interests in the company's business other than the reimbursement of expenses incurred or normal remuneration or benefits.
- Negative publicity could damage the company's reputation and adversely impact its business and financial results.
- Any failures, or perceived failures, by it to comply with the applicable regulations on personal information protection could expose the company to proceedings and fines which may adversely affect its reputation, business, results of operations, cash flows and financial condition.
- Any non-compliance with mandatory anti-money laundering ("AML") and combating-terrorism financing ("CFT") laws could expose it to liability and harm the company's reputation.
- Any disruption or failures of the company's technology systems may adversely affect its business and operations. Additionally, challenges in implementation of new technologies for the company's operations could be significant.
The Issue type of Gaja Alternative Asset Management Ltd is Book Building.
The minimum application for shares of Gaja Alternative Asset Management Ltd is 93.
The total shares issue of Gaja Alternative Asset Management Ltd is 34375000.
Initial public offering 34,375,000 equity shares of face value Rs. 5 each ("Equity Shares") of Gaja Alternative Asset Management Limited ("the Company" or the "Company" or the "Issuer") for cash at a price of Rs. 160 per equity share (including a premium of Rs.155 per equity share) (the "offer price") aggregating to Rs.550 Crores (the "Offer") comprising a fresh issue of 28,125,000 equity shares aggregating Rs. 450 Crores by the company (the "Fresh Issue") and an offer for sale of 6,250,000 equity shares aggregating to Rs. 100.00 Crores (the "Offer For Sale"), comprising 1,834,375 equity shares of face value Rs. 5 each aggregating to Rs. 29.35 Crores by Ranjit Jayant Shah Jointly held with Mona Ranjit Shah, 1,250,000 equity shares of face value Rs. 5 each aggregating to Rs. 20.00 Crores by Imran Jafar (the "Promoter Selling Shareholders") 1,171,875 equity shares of face value Rs. 5 each aggregating to Rs. 18.75 Crores by Sanjay Hiralal Patel, 625,000 equity shares of face value Rs. 5 each aggregating to Rs. 10.00 crores by Sudesh Jain Jointly held with Gopal Jain, 587,500 equity shares of face value Rs. 5 each aggregating to Rs. 9.4 Crores by Anshuman Goyal, 312,500 equity shares of face value Rs. 5 each aggregating up to Rs. 5 Crores by Abhinav Jain and 312,500 equity shares of face value Rs. 5 each aggregating to Rs. 5.00 Crores by Sushane Chopra and 156,250 equity shares of face value Rs. 5 each aggregating to Rs. 2.5 Crores by Suparna Kumar (the "Other Selling Shareholders", collectively with the promoter selling shareholders, the "Selling Shareholders", and such equity shares cumulatively offered by the selling shareholders, the "Offered Shares").
Price Band: Rs. 160 per equity share of face value of Rs. 5 each.
The floor price 32.00 times the face value of the equity shares, respectively.
Bids can be made for a minimum of 93 equity shares of face value of Rs. 5 each and in multiples of 93 equity shares of face value of Rs. 5 each thereafter.