Gaja Alternative IPO listing date today. GMP hints up to 12% listing pop

Gaja Alternative IPO listing date has been scheduled for today (Wednesday, 26 August) on the bourses at 10:00 IST. Gaja Alternative IPO allotment was finalised on Monday, 24 August. According to details on the BSE website, Gaja Alternative share price will list in a special pre-open session on both the BSE and NSE during Wednesday's trades. Gaja Alternative share price today will be available for trade from 10:00 IST.

Members of the Exchange are hereby notified that starting Wednesday, August 26, 2026, the equity shares of Gaja Alternative Asset Management Limited will be listed and eligible for trading on the Exchange under the 'B' Group of Securities, as per the notice from BSE.

Gaja Alternative IPO GMP today

The Gaja Alternative IPO GMP currently stands at +19. Based on the upper end of the IPO price band and the prevailing grey market premium, the estimated Gaja Alternative share price at listing is ₹179 apiece, indicating a 11.88% premium over the IPO price of ₹160.

Based on grey market activity over the past 13 sessions, the IPO's Grey Market Premium (GMP) is trending upward today, suggesting expectations of a robust listing. Throughout this timeframe, the GMP fluctuated between ₹0.00 and ₹30, according to expert opinions.

Gaja Alternative IPO listing prediction

Mahesh M. Ojha, Vice President of Research & Business Development at Kantilal Chagganlal Securities Pvt Ltd, said Gaja Capital offers an attractive investment opportunity, backed by its first-mover advantage in the alternative investment fund (AIF) segment, a differentiated business model, a scalable, asset-light platform, and strong profitability.

“Unlike traditional asset managers, Gaja Capital benefits from multiple revenue streams, including management fees, carried interest and income from sponsor commitments, providing significant scope for earnings growth and operating leverage,” Ojha said.

The company reported a strong FY26 performance, with total income rising 28% year-on-year to ₹157.8 crore and profit after tax increasing 32.2% to ₹82 crore. Between FY24 and FY26, its revenue, PAT and net worth recorded CAGRs of 23.2%, 35.3% and 35.2%, respectively. EBITDA margins remained robust at around 60%, reflecting the business's scalability and high-margin profile, while return on equity stood at 16%.

According to Ojha, Gaja Capital is well-positioned to benefit from the structural growth of India’s alternative investment industry, which remains relatively underpenetrated and offers significant opportunities among institutional, high-net-worth (HNI) and ultra-high-net-worth (UHNI) investors.

The company’s management fee yield of around 190 basis points in FY26, significantly higher than traditional mutual fund platforms, further supports its earnings profile. “At 23.4 times EV/EBITDA and 27.5 times P/E, the valuation appears reasonable, considering the company’s strong growth outlook, superior margins and asset-light business model,” he added.

Ojha expects rising AIF commitments, higher management fee income and potential upside from carried interest to support sustained earnings growth and operating leverage. He estimates potential listing gains of around 10–12%, while maintaining that the company’s strong fundamentals and favourable industry tailwinds make it suitable for long-term investors with a multi-year investment horizon.

Overall, Ojha believes Gaja Capital offers a compelling combination of first-mover advantage, diversified revenue streams, strong financial performance, high profitability and long-term growth opportunities.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.