Gaja Alternative Asset Management enters the final day of its IPO subscription today. The Rs. 550-cr. issue carries a price band of Rs. 152–160 per share and opened on August 19. By the second day, the issue had received around 86% subscription, according to available subscription data.
The IPO is attracting attention because it provides public-market investors exposure to the alternative-asset-management business. Investors will assess the company’s fee income, assets under management, profitability and valuation before deciding how attractive the issue is for the long term.
