EAAA India Alternatives IPO GMP flat on Day 3, issue booked 1.01x so far | Should you apply to Edelweiss Financial arm?
The R1,200-crore initial public offering (IPO) of EAAA India Alternatives opened for subscription on Monday, 26 October, and will close today, Wednesday, 28 October.
The EAAA India Alternatives IPO price band has been fixed at ₹1,585– ₹1,665 per equity share, with a face value of ₹5 per share. The EAAA India Alternatives IPO lot size is 9 equity shares, and investors can place bids in multiples of 9 shares thereafter.
EAAA India Alternatives IPO GMP today, or grey market premium, is +10. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the EAAA India Alternatives share price was indicated at ₹1,675 apiece, which is 0.60% higher than the IPO price of ₹1,665.
Based on grey market trading over the past six sessions, the IPO’s GMP trend has turned downward, signalling softer investor demand. During this period, the premium fluctuated between ₹10 and ₹121, according to market data.
The EAAA India Alternatives IPO allotment is expected to be finalised on Thursday, 29 October. The company is likely to initiate EAAA India Alternatives IPO refunds on Friday, 30 October, while shares are expected to be credited to the demat accounts of successful allottees on the same day.
EAAA India Alternatives IPO subscription status was 1.01x on day 3, so far. The retail portion is subscribed 17%, and the NII portion has been booked 1.39x; the QIBs portion received 2.20x bids.
The company has received bids for 53,58,537 shares against 52,99,684 crore shares, 12:30 IST, as per BSE data.
The IPO was subscribed 33% on the second day of bidding on Tuesday, and 11% on the first day on Monday.
Anand Rathi Share and Stock Brokers said EAAA India Alternatives is valued at 40.6 times its FY26 price-to-earnings (P/E) ratio and 33.2 times its FY26 EV/EBITDA at the upper end of the price band, implying a post-issue market capitalisation of ₹10,765.1 crore.
While the valuation appears full, the brokerage highlighted the company's leadership position in India's alternatives market, diversified investment platform, strong growth in fee-paying assets under management (FPAUM), robust profitability and favourable industry outlook. It recommended a “Subscribe for Long Term” rating for the IPO.
Bajaj Financial Securities recommended subscribing to EAAA India Alternatives’ IPO, describing the company as an alternative investment management platform focused on India’s real assets and private credit markets. The brokerage highlighted its diversified client base and technology-enabled investment platform, supported by dedicated investment, asset management, coverage and enterprise teams.
On valuation, Bajaj Financial Securities noted that the company is valued at a price-to-earnings (P/E) multiple of around 40 times its FY26 earnings.
The IPO is a pure offer for sale (OFS) by the Edelweiss Group, with no fresh issue. EAAA India Alternatives will therefore not receive any proceeds from the offering, with the entire proceeds going to the selling shareholder.
The issue size has been reduced to ₹1,200 crore from ₹1,500 crore proposed in the draft red herring prospectus (DRHP) filed with SEBI in January.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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HomeMarketsIPOEAAA India Alternatives IPO GMP flat on Day 3, issue booked 1.01x so far | Should you apply to Edelweiss Financial arm?
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