Gaja Alternative Asset Management IPO Day 2 Subscription Status: Issue Subscribed 1.11 Times so Far

Mumbai, August 20: The Gaja Alternative Asset Management IPO moved past the one-times subscription mark on the second day of bidding, with the issue subscribed 1.11 times as of 10:19 AM on August 20. Retail investors remained active, while the NII portion also saw bids exceed the shares reserved for the category. 

The ₹550 crore IPO opened on August 19 and will remain open for subscription until August 21. The price band is set at ₹152 to ₹160 per share. With a lot size of 93 shares, a retail investor needs ₹14,880 to apply for one lot at the upper end of the price band. 

Gaja Alternative Asset Management IPO Day 2 Subscription Status 

By 10:19 AM on August 20, investors had placed bids for 2,66,70,540 shares against 2,40,62,500 shares available in the public portion. This translated into an overall subscription of 1.11 times. 

Retail investors had subscribed 1.53 times, with bids received for 1,84,37,715 shares against 1,20,31,250 shares reserved for the category. The NII portion was subscribed 1.47 times, while the QIB portion excluding the anchor allocation stood at 0.10 times. 

The issue had received 1,74,453 applications at the reported time. The anchor investor portion of 1,03,12,500 shares is excluded from the public issue subscription figures. 

Gaja Alternative Asset Management IPO Day- Wise Subscription Summary 

The subscription pace improved on the second day. The IPO had ended Day 1 with an overall subscription of 0.90 times. By the second day, retail and NII demand had pushed the overall figure above the one-times mark. 

The sNII category recorded the highest subscription among the reported categories at 2.22 times. 

Gaja Alternative Asset Management IPO Timeline 

Brief Overview Of Gaja Alternative Asset Management IPO 

Gaja Alternative Asset Management is looking to raise ₹550 crore through its book-built IPO. The issue comprises a fresh issue of 2,81,25,000 shares aggregating to ₹450 crore and an offer for sale of 62,50,000 shares worth ₹100 crore at the upper end of the price band. 

The IPO price band has been fixed at ₹152 to ₹160 per share, while the lot size is 93 shares. At the upper price, one lot requires an investment of ₹14,880 for retail investors. 

The issue has reserved 50% of the total shares for QIBs, 15% for NIIs and 35% for retail investors. An anchor portion of 1,03,12,500 shares was allocated ahead of the public bidding and is not included in the public subscription calculation. 

The IPO opened on August 19 and closes on August 21. The basis of allotment is scheduled for August 24, followed by refunds and credit of shares on August 25. The shares are scheduled to list on BSE and NSE on August 26. 

Conclusion 

The Gaja Alternative Asset Management IPO has moved above full subscription on Day 2, with the overall issue subscribed 1.11 times as of 10:19 AM. Retail investors have subscribed 1.53 times, while the NII portion has reached 1.47 times. The QIB portion excluding anchors remains at 0.10 times. 

With one bidding day still remaining, the IPO will stay open until August 21. The next key milestones are the basis of allotment on August 24 and the scheduled listing on August 26.  

Source: 

• https://www.nseindia.com/market-data/issue-information?symbol=GAJA&series=EQ&type=Active