Gaja Alternative Asset Management IPO Subscription Status Day 3 – Live Updates & Key Details

Gaja Alternative Asset Management's IPO has entered its third and final day of bidding on August 21, 2026. The company is an independent alternative asset management business with over two decades of experience managing and advising India-focused funds, including Category I and Category II AIFs and offshore funds investing in India. It operates independently rather than being owned by a financial institution, corporate group, or global asset manager, and has built an investment portfolio backing businesses like Xpressbees, RBL Bank, EuroKids, TeamLease, and Signzy, with limited partners spread across more than 20 countries.

IPO Details

Category-wise Breakdown on Day 3

Figures as of 12:40 PM, August 21, 2026 (Day 3, closing day, NSE bid details). The issue received bids for 9.89 crore shares against 2.53 crore shares on offer. Numbers will keep climbing through the rest of the day as bidding wraps up this evening.

Gaja Alternative Asset Management IPO - Day 3 Subscription Status

Day 2 had carried the issue to 2.38x overall by the afternoon. Demand has picked up further through the final day, with the issue standing at 3.91x overall as of midday.

What Day 3 Numbers Indicate

NII has surged to 9.35x, with small HNIs (9.61x) and big HNIs (9.22x) running almost neck and neck, both showing strong conviction. This kind of jump on the closing day is fairly typical, big-ticket HNI money, often funded through NBFC loans, tends to pile in during the final hours once investor confidence in a strong listing builds up.

Retail has also climbed further, from 3.07x at Day 2's close to 3.74x by Day 3's midday, comfortably oversubscribed and firmly in lottery-allotment territory.

QIB, at just 0.10x, remains the one category still far short of full subscription, even this late in the window. Institutional bids typically arrive in a rush only in the final hours before the cut-off, so this figure has meaningful room to move before the issue shuts tonight.

With the overall figure at 3.91x by midday and several hours of bidding still remaining, expect the final tally to climb further, particularly if QIB participation picks up in the closing stretch as is typical for mainboard issues.

Gaja Alternative Asset Management IPO - Timetable

Should You Apply for Gaja Alternative Asset Management IPO?

A few things worth weighing on the last day:

• It's a mix of fresh issue and offer for sale, with the ₹450 crore fresh issue going toward sponsor commitments for constituent funds of Fund IV and repayment of a bridge loan, while the ₹100 crore OFS portion goes to existing shareholders selling part of their stake.
• The company has shown strong, consistent profitability, with profit after tax growing at a CAGR of 35.34% between FY2024 and FY2026, and PAT margin improving from 43.04% to 51.94% over the same period.
• The management team is experienced and stable, with senior leadership averaging 17 years at the company, and the three promoters and executive directors bringing between 19 and 27 years of experience in alternative asset management.
• With NII at 9.35x and retail at 3.74x by Day 3's midday, allotment in both categories is very likely to be decided by lottery, while QIB, at just 0.10x, still has significant ground to cover before tonight's close.
• India's AIF industry and managed investment products have grown steadily, with AIF commitments rising to 7.3% of total AUM of managed investment products as of March 2026, up from 3.5% in March 2019, a favourable industry backdrop for the business.

This is informational content, not investment advice. Weigh your own risk appetite before applying.

How to Apply for Gaja Alternative Asset Management IPO

You can apply through any of these routes:

1. ASBA via net banking – log into your bank's net banking, go to the IPO section, select Gaja Alternative Asset Management, enter quantity and bid price, then authorise.
2. UPI via broker app – open your broker app, find the IPO under current issues, enter your UPI ID and bid details, then approve the mandate on your UPI app.
3. Physical ASBA form – submit through your bank branch if you prefer the offline route.

Since this is the closing day, get your application in well before the cut-off this evening. Bid in multiples of the 93-share lot, and apply at the cut-off price to keep your allotment chances intact.

How to Check Gaja Alternative Asset Management IPO Subscription Status

How to check Gaja Alternative Asset Management IPO Subscription Status on NSE website

1. Go to the NSE India website and open the "Live IPO Bidding" section.
2. Select Gaja Alternative Asset Management Limited from the dropdown.
3. You'll see category-wise bid numbers, updated through the trading day.

How to check Gaja Alternative Asset Management IPO Subscription Status on BSE website

1. Visit the BSE India IPO page.
2. Search for Gaja Alternative Asset Management under active issues.
3. Click on it to view live bid quantity against shares reserved, split by category.

How to check Gaja Alternative Asset Management IPO Subscription Status on Ventura?

Log into your Ventura account, go to the IPO section, and select Gaja Alternative Asset Management from the list of live issues. You'll find the live subscription numbers along with your own application status if you've already applied.

IPO Subscription History

Day 1 closed with the issue subscribed 0.71 times overall, with retail at 1.02x and small HNIs at 1.25x already past full subscription. Day 2 climbed to 2.38x overall, with NII at 3.74x and retail at 3.07x.

Conclusion

Gaja Alternative Asset Management's IPO has continued to build into its final day, standing at 3.91x overall by midday, up from 2.38x the previous afternoon. NII has led the charge at 9.35x, with retail comfortably oversubscribed at 3.74x, while QIB, at just 0.10x, remains the category with the most room to move before tonight's close. With several hours of bidding still remaining, expect the final figures to climb further as institutional bids typically arrive in the closing stretch.