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Gaja Alternative Asset Management IPO opens Aug 19 and to list Aug 26
The ₹550 crore book build includes a ₹450 crore fresh issue and a ₹100 crore offer for sale, with retail bids starting at ₹14,880 for the minimum lot.
Gaja Alternative Asset Management is set to open its initial public offering for public subscription on Wednesday, 19 August, and the book build will combine a fresh issue of shares with an offer for sale, LiveMint Markets said.
According to the offering details, the IPO targets a ₹550 crore overall size, made up of a ₹450 crore fresh issue of 2.81 crore shares and an OFS of 63 lakh shares worth ₹100 crore. The issue will run through Friday, 21 August, with allotment expected to be finalised on Monday, 24 August.
Share allocation is split with 50% reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors, the outlet noted. The IPO lot size is 93 shares, with a one-lot minimum for retail, based on the upper price band of ₹160 implying a minimum retail investment of ₹14,880.
Gaja Alternative Asset Management shares are scheduled to list on the BSE and NSE on Wednesday, 26 August. LiveMint Markets also pointed to grey market indications on Tuesday of a ₹7 premium, suggesting a potential nominal listing around ₹167, while noting tepid demand amid concerns over the US-Iran conflict and crude oil price volatility.
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