Gaja Alternative Asset Management is scheduled to list on the stock exchanges today after completing its Rs. 550-cr. IPO. The issue attracted substantial demand during the subscription period, with total subscription reported at more than 31 times.
The company operates in the alternative-asset-management space, giving public-market investors exposure to an investment-management business rather than a traditional manufacturing or consumer company.
The listing will provide an early indication of how investors value the company’s growth potential, fee income and assets under management. Market participants will also watch whether the strong subscription translates into a premium listing.
