Gaja Alternative Asset Management files confidential draft IPO papers

Gaja Alternative Asset Management files confidential draft IPO papers.

Gaja Alternative Asset Management Limited which operates under the brand Gaja Capital has filed a confidential draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering.

The company in a public announcement stated that it has "submitted the pre-filed draft red herring prospectus (DRHP) with the markets regulator and the stock exchanges for the proposed listing of its equity shares on the main board." The filing of the pre-filed DRHP does not necessarily indicate that the company will go public.

According to people familiar with the development, the proceeds from the IPO will provide capital for the fund managers to seed new funds and expand distribution capabilities both in India and abroad. The capital will also be used to diversify into new fund management strategies.

Founded in 2004, Gaja Capital is one of India's leading private equity and alternative asset management firms, focused on providing growth capital to entrepreneurs. The firm has invested across key sectors such as education, consumer, and financial services.

In January 2025 the company converted from private to public limited changing its name to Gaja Alternative Asset Management Ltd. Earlier this month, Gaja Capital successfully raised Rs 125 crore in a pre-IPO funding round, valuing the firm at Rs 1,625 crore.

This IPO would mark the first public listing of a standalone, Indian-origin private equity firm managing alternative assets.

Gaja has built a strong investment portfolio over the years, with investments in companies such as Teamlease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Ei, Leadsquared, and Signzy.

Gaja Alternative Asset Management has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the draft red herring prospectus (DRHP) until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans.

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