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Gaja Alternative IPO allotment to be finalized Aug. 24
The issue closed Aug. 21 after reaching 31.3 times subscription, with refunds beginning Aug. 25 for applicants who were not allotted shares.
Gaja Alternative Asset Management’s IPO share allotment will be finalized on Monday, Aug. 24, with investors able to check status on the MUFG Intime India Private Ltd, Link Intime India portal.
The IPO opened for subscription on Wednesday, Aug. 19 and closed on Friday, Aug. 21, according to LiveMint Markets. Subscription was 31.33 times on day 3, and the company received positive demand from the street, the outlet reported.
For investors, the basis of allotment can be used to confirm whether shares were assigned and the quantity. Those allotted shares will be deposited into recipients’ demat accounts.
LiveMint Markets also said the refund process for applicants who did not receive shares will start on Tuesday, Aug. 25, and the listing is scheduled for Wednesday, Aug. 26. The outlet noted the current grey market premium, or GMP, stands at +19, with an estimated listing price of ₹179 per share based on the upper end of the IPO price band of ₹160.