Gaja Alternative Asset Management Shares Fall 5% From Opening Price On BSE, NSE After ₹550 Crore IPO

Mumbai, August 26: Gaja Alternative Asset Management Ltd shares began trading on the BSE and NSE at ₹185 on Wednesday, August 26, 2026, against the final IPO issue price of ₹160 per share. The stock later moved to ₹175.85 by 11:32 AM IST, according to the market data provided.

Gaja Alternative Asset Management shares opened at ₹185 on BSE and NSE on August 26, 2026, at a 15.63% premium to the ₹160 issue price, before falling to ₹175.85 by 11:32 AM IST. The ₹550 crore IPO was subscribed 32.98 times.

Shares Open At ₹185 And Move To ₹175.85

Gaja Alternative Asset Management shares opened at ₹185 and touched an intraday high of ₹190 during the session shown in the market snapshot. The stock subsequently moved lower and stood at ₹175.85 at 11:32 AM IST.

The market chart shows the stock trading above the ₹170 level after the initial movement from its opening price. The 11:32 AM IST figure represents the market snapshot provided and is not the final closing price.

₹550 Crore IPO Received 32.98 Times Subscription

The Gaja Alternative Asset Management IPO received overall subscription of 32.98 times by the close of bidding on August 21, 2026.

The QIB category, excluding anchor investors, was subscribed 45.87 times, while the NII category received 65.63 times subscription. Within NII, the portion for applications above ₹10 lakh was subscribed 76.03 times and the portion below ₹10 lakh was subscribed 44.85 times.

The retail investor portion was subscribed 11.61 times. The issue received 14,36,184 applications in total.

Fresh Issue Accounted For ₹450 Crore

The IPO comprised a fresh issue of 2,81,25,000 shares aggregating to ₹450 crore and an offer for sale of 62,50,000 shares amounting to ₹100 crore.

The total issue size stood at 3,43,75,000 shares, aggregating to ₹550 crore at the upper end of the ₹152-160 price band. The issue price was fixed at ₹160 per share.

The fresh issue represents newly issued shares, while the offer-for-sale component involves existing shareholders selling their shares.

QIB And NII Categories Drive Subscription

The QIB category, excluding anchors, was offered 68,75,000 shares and received bids for 31,53,32,716 shares, resulting in subscription of 45.87 times.

The NII category had 51,56,250 shares on offer and received bids for 33,84,15,375 shares, translating into subscription of 65.63 times.

Retail investors were offered 1,20,31,250 shares and submitted bids for 13,97,36,127 shares, resulting in subscription of 11.61 times.

IPO Listed At ₹185 Against ₹160 Issue Price

The stock’s ₹185 opening price was ₹25 above the IPO issue price of ₹160. This represented a listing premium of 15.63%.

The stock subsequently touched ₹190, which was ₹30, or 18.75%, above the issue price. At 11:32 AM IST, the price stood at ₹175.85, retaining a 9.91% premium to the issue price.

Gaja Alternative Asset Management IPO Had ₹93 Minimum Lot

The IPO had a lot size of 93 shares. At the upper end of the ₹152-160 price band, the minimum retail application amount was ₹14,880.

The IPO opened for subscription on August 19 and closed on August 21, 2026. The allotment was finalised on August 24, while the shares were scheduled to list on BSE and NSE on August 26.

Gaja Alternative Asset Management Raises Capital Through IPO

Gaja Alternative Asset Management’s IPO comprised fresh capital of ₹450 crore and an offer for sale of ₹100 crore. The company fixed the final issue price at ₹160 per share after the bidding process.

The shares were listed on both BSE and NSE on August 26, 2026. The market data snapshot used in this report records the stock at ₹175.85 at 11:32 AM IST.

Conclusion

Gaja Alternative Asset Management shares opened at ₹185 on BSE and NSE, representing a 15.63% premium to the ₹160 IPO issue price. The stock touched ₹190 before moving to ₹175.85 by 11:32 AM IST, which was 4.95% below its opening level but 9.91% above the issue price.

The listing followed a ₹550 crore IPO that received 32.98 times overall subscription, with QIBs subscribing 45.87 times, NIIs 65.63 times and retail investors 11.61 times. The market figures cited here relate specifically to the 11:32 AM IST snapshot and do not represent the final closing price for the session.

Source:

• https://www.bseindia.com/stock-share-price/gaja-alternative-asset-management-ltd/gaja/544885