S&R Associates and Trilegal advised on Gaja Capital’s ₹550 crore IPO.
Gaja Alternative Asset Management Limited (Gaja Capital) completed its ₹5,500 million (₹550 crore) initial public offering, marking the first IPO by a pure-play private equity/alternative asset management company in India. The listing represents a significant milestone for India’s alternative investment management industry, bringing the previously predominantly private investment-management model to the public markets. The transaction also included a pre-filing ₹1.75 billion placement, comprising a ₹1.25 billion private placement by the Company and ₹0.50 billion in secondary transfers by certain shareholders.
S&R Associates represented Gaja Alternative Asset Management Limited and its selling shareholders in the ₹5.50 billion IPO.
The IPO team was led by Partners Sandip Bhagat and Jabarati Chandra, with Associates Gunjeet Singh, Yashvardhan Singh and Shruti Sarkar. The pre-filing placement transaction was led by Partner Dhruv Nath, with Associate Samyak Jain.
Trilegal advised the book-running lead managers, JM Financial Limited and IIFL Capital Services Limited, on the IPO.
The Capital Markets team was led by Partners Richa Choudhary and Murtaza Zoomkawala, with support from Senior Associate Rainika Malhotra; Associates Yatin Shikarpuri and Rajat Chauksey.
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