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Gaja Alternative Asset Management IPO Review

Gaja Alternative Asset Management IPO has been reviewed by 8 analysts, and the overall consensus is Apply — carrying a score of 81. Out of the 8 analysts who have covered this IPO, 5 recommend subscribing while 3 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹152-160 per share, with a minimum application size of 93 shares (minimum investment of approximately ₹14,880 at the upper band). Subscription ran from 19 Aug 2026 to 21 Aug 2026. The issue size is ₹550 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Gaja Alternative Asset Management IPO is quoting at ₹18.5 (11.56%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
81/ 100
Apply 5 of 8 recommend subscribing
How analysts voted
Apply 5
May apply 1
Neutral 1
Avoid 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Gaja is a mid-market private equity manager investing across education and employability, financial services, consumer discretionary and digital technology. FY26 income was ₹157.80 crore with profit of ₹81.96 crore. Analyst views were divided: five of the eight covering it said subscribe, one stayed neutral, one advised caution and one said avoid outright.

Listing gains

The notes price the issue at about 28 times post-issue FY26 book value, book being the usual measure for an asset manager rather than earnings. With opinion split three ways and one outright avoid, the analysts offered no united view on pricing, which pointed to a muted listing rather than a strong one.

Short-term strategy

The dissenting note is specific: carried interest gave about 48 percent of FY26 income and is volatile and dependent on fund performance, while operating cash flow was negative in both FY25 and FY26. Clawback provisions can force return of carried interest if fund returns fall below the hurdle rate. Near-term earnings are therefore lumpy.

Long-term strategy

The positive notes rest on industry growth. AIF commitments in India reached ₹16.9 trillion by March 2026, growing at 29.2 percent CAGR since 2019, and are projected to reach ₹41 to 44 trillion by 2030. Against this, analysts flag that the top ten limited partners hold 63.42 percent of commitments.

How this is written: an AI-assisted summary of the 8 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Gaja Alternative Asset Management IPO?

The analyst consensus for Gaja Alternative Asset Management IPO tracked on this page is Apply, with a score of 81/100. Out of 8 analysts who have reviewed this IPO, 5 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 81 mean for Gaja Alternative Asset Management IPO?

The score of 81 is an aggregate of all analyst ratings tracked for Gaja Alternative Asset Management IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

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% (₹25 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Gaja Alternative Asset Management IPO?

Gaja Alternative Asset Management IPO was priced at ₹152-160 per share. The minimum lot size is 93 shares, making the minimum investment approximately ₹14,880 at the upper end of the price band. Subscription ran from 19 Aug 2026 to 21 Aug 2026.

Explore Gaja Alternative Asset Management IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Gaja Alternative Asset Management IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Apply
Score
81 / 100
Listed at
₹185
Full IPO details