Gaja Capital gets SEBI nod for ₹600cr IPO
Gaja Capital received the go-ahead from SEBI to launch its IPO, making it the first private equity firm in India to hit the stock market.
The approval came in June 2024 after a ₹125 crore pre-IPO placement at a ₹1,625 crore valuation.
With this IPO, Gaja Capital aims to raise ₹500-600 crore to fuel new investment funds and expand its reach both in India and abroad.
Gaja Capital's portfolio and governance push
Started back in 2004, Gaja Capital backs mid-sized Indian companies mainly in education, finance, and consumer sectors—think Fractal Analytics and RBL Bank.
Earlier this year, it switched to a public limited company called Gaja Alternative Asset Management Ltd.
To boost governance as it goes public, former SEBI chief UK Sinha has joined as non-executive chairman.
Role of advisors in the process
JM Financial and IIFL Securities are advising on the IPO process.
The fresh funds will help Gaja diversify into new fund management strategies and strengthen distribution channels globally.