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Gaja Capital raises Rs 165 cr from anchor investors

Gaja Alternative Asset Management has raised Rs 165 crore from anchor investors ahead of its initial public offering, the firm said in an exchange filing on Tuesday. It allotted 1.03 crore shares to 20 investors at Rs 160 apiece, the upper end of its IPO price band.

Gaja Capital raises Rs 165 cr from anchor investors
The Times of India

Gaja Alternative Asset Management has raised Rs 165 crore from anchor investors ahead of its initial public offering, the firm said in an exchange filing on Tuesday. It allotted 1.03 crore shares to 20 investors at Rs 160 apiece, the upper end of its IPO price band.

Mutual funds received 65.15% of the anchor allocation, while life insurers accounted for 16.66%. Together, these long-term domestic institutions took nearly 82% of the book. Nippon India Banking and Financial Services Fund invested Rs 30 crore, while Invesco India , HDFC Life, SBI Life and Bajaj Life were also allotted shares.

Investment vehicles associated with market investors Mukul Agarwal, Ashish Kacholia and Akash Bhansali participated in the allocation.

Gaja Capital’s IPO will open for subscription on August 19 and close on August 21. JM Financial and IIFL Capital Services are jointly managing the issue.

Source: The Times of India