EAAA India Alternatives’ Rs 1,200 crore IPO kicks off; all you need to know

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ETMarkets.com

EAAA India Alternatives has fixed the IPO price band at Rs 1,585–1,665 per equity share.

The Rs 1,200-crore IPO is entirely an offer for sale (OFS) of 72.07 lakh equity shares by promoter selling shareholder Edelweiss Securities & Investments Pvt. Since the issue comprises only an OFS, the company will not receive any proceeds from the offering; the entire amount goes to the selling shareholder.

EAAA India Alternatives has fixed the IPO price band at Rs 1,585–1,665 per equity share, with a face value of Rs 5 per share. The issue will close on October 28, 2026.

The basis of allotment is expected to be finalised on October 29, while the company’s shares are tentatively scheduled to list on the NSE and BSE on November 2, 2026.

Investors can bid for a minimum of nine shares and in multiples of nine thereafter. At the upper end of the price band, the minimum investment works out to Rs 14,985 for a retail investor.

The floor price of Rs 1,585 is 317 times the face value, while the cap price of Rs 1,665 is 333 times the face value.

Based on diluted earnings per share (EPS) for FY26, the IPO is valued at a price-to-earnings (P/E) multiple of 39.27 times at the lower end of the price band and 41.25 times at the upper end. This compares with the industry peer-group average P/E ratio of 39.89 times for FY26.

The company’s weighted average return on net worth (RoNW) for FY24, FY25 and FY26 stood at 26.57%. Its RoNW for the three-month period ended June 30, 2026, was 28.96% on an annualised basis.

Ahead of the IPO, EAAA India Alternatives raised Rs 360 crore from anchor investors. The company allotted 21,62,161 equity shares to anchor investors at Rs 1,665 per share, the upper end of the IPO price band.

Axis Capital Ltd., Jefferies India Pvt. Ltd., Motilal Oswal Investment Advisors Ltd. and Nuvama Wealth Management Ltd. are the book-running lead managers to the issue. MUFG Intime India Pvt. Ltd. is the registrar.

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EAAA India Alternatives IPO GMP today

EAAA India Alternatives IPO is commanding a grey market premium (GMP) of Rs 33, or around 2%, over its upper price band of Rs 1,665. Based on this premium, the estimated listing price stands at Rs 1,698 per share.

Financial Performance

EAAA India Alternatives Ltd. reported a 23% year-on-year increase in total income to Rs 964 crore in FY26, compared with Rs 787 crore in FY25. The company’s profit after tax (PAT) rose 15% to Rs 265 crore in FY26 from Rs 230 crore in the previous financial year.

About EAAA India Alternatives Ltd.

Incorporated on May 14, 2008, EAAA India Alternatives Ltd. is an alternative investment management platform focused on India's real assets and private credit markets. It caters to domestic and global institutional investors, high-net-worth individuals, ultra-high-net-worth individuals and family offices through its Real Assets and Private Credit businesses, along with portfolio management services and other investment solutions.

As of June 30, 2026, the company managed assets under management (AUM) of Rs 95,344.88 crore and fee-paying assets under management (FPAUM) of Rs 48,623.18 crore. Its portfolio comprised 10 active Real Assets funds, including two Infrastructure Investment Trusts (InvITs), and 16 active Private Credit funds. The company is supported by its wholly owned subsidiary, Sekura India Management Ltd., and had 277 employees across investment, asset management, coverage, legal, compliance and other functions.