Gaja Alternative Asset Management IPO GMP History
Gaja Alternative Asset Management IPO has been listed on August 26, 2026 at a listing price of ₹185, against the issue price of ₹160 — a gain of ₹25 (+15.63%). The GMP peaked at ₹30 on 18 August 2026 and reached a low of ₹7 on 17 August 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Gaja Alternative Asset Management IPO raised ₹550 Cr. through its IPO at a price band of ₹152 to ₹160 per share, with a lot size of 93 shares. The IPO was open for subscription from 19 Aug 2026 to 21 Aug 2026.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 8 Sep, 1:37 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 26 Aug 2026 | ₹ 18.5 | — | 11.56% | — | — |
| 25 Aug 2026 | ₹ 18.5 | ▲ | 11.56% | — | — |
| 24 Aug 2026 | ₹ 15.5 | ▼ | 9.69% | — | — |
| 23 Aug 2026 | ₹ 17 | — | 10.62% | — | — |
| 22 Aug 2026 | ₹ 17 | ▼ | 10.62% | — | — |
| 21 Aug 2026 | ₹ 19 | ▲ | 11.88% | — | — |
| 20 Aug 2026 | ₹ 18 | ▼ | 11.25% | — | — |
| 19 Aug 2026 | ₹ 23 | ▼ | 14.37% | — | — |
| 18 Aug 2026 | ₹ 30 | ▲ | 18.75% | — | — |
| 17 Aug 2026 | ₹ 7 | — | 4.38% | — | — |
Gaja Alternative Asset Management IPO dates
Key dates from opening to listing. Today is 28 September.
- Open 19 Aug 2026
- Close 21 Aug 2026
- Allotment 24 Aug 2026
- Refund/credit 25 Aug 2026
- Listing 26 Aug 2026
Gaja Alternative Asset Management IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹160 |
|---|---|
| GMP-based estimate (pre-listing) | ₹178 (+11.3%) |
| Listing gain / loss | +₹25 per share |
| Listing date | 26 Aug, 2026 |
| Actual listing price | ₹185 (+15.63%) |
Is Gaja Alternative Asset Management IPO GMP reliable?
Grey market premium for Gaja Alternative Asset Management IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Gaja Alternative Asset Management IPO full review for a fundamentals-based assessment before making any grey market trades.
Gaja Alternative Asset Management IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Gaja Alternative Asset Management IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Gaja Alternative Asset Management IPO
Gaja Alternative Asset Management Limited was started in April 1999. It is an Indian owned alternative asset management company. In simple words, it collects money from large investors and invests that money in Indian companies through funds. It manages and advises Category I and Category II AIFs registered in India as well as offshore funds that invest in India.
The company invests mainly in mid sized companies in areas such as education, energy and environment, financial services, consumer products and digital technology. It runs the Gaja Capital Funds, which include Fund II, Fund III and Fund IV, and has investors from more than 20 countries.
The company earns in three ways, through management fees on the money it manages, through carried interest which is a share of the profit when a fund does well, and through gains on its own money invested in those funds. As on 31 March 2026 it had put in about Rs 274 crore of its own money as sponsor commitment, which is 6.41% of the total size of the Gaja Capital Funds. It follows an invest and collaborate approach and works with its portfolio companies on product, sales, hiring and finance. As on 31 March 2026 it had 37 people, including 23 permanent and 14 contract employees.
Frequently asked
What is the GMP of Gaja Alternative Asset Management IPO?
The current Grey Market Premium (GMP) of Gaja Alternative Asset Management IPO is ₹ 18.5.
What is the Kostak Price of Gaja Alternative Asset Management IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Gaja Alternative Asset Management IPO is not available.
What is the Subject to Sauda Price of Gaja Alternative Asset Management IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Gaja Alternative Asset Management IPO?
Gaja Alternative Asset Management IPO listed on August 26, 2026 at ₹185, against the issue price of ₹160 — a gain of +15.63%.
How did the GMP of Gaja Alternative Asset Management IPO trend before listing?
The GMP of Gaja Alternative Asset Management IPO was stable in its final days before listing. The GMP peaked at ₹30 on 18 August 2026. View the day-wise table above for the complete GMP history.
Explore Gaja Alternative Asset Management IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
