Gaja Alternative Asset Management IPO GMP Today: GMP Falls to ₹17; Subscription Reaches 4.54x

21 Aug 2026 , 11:47 AM

The Gaja Alternative Asset Management IPO GMP declined further on August 21, 2026, amid strong subscription demand for the public issue. The latest grey market premium (GMP) stood at ₹17 per share, down from ₹18 on August 20 and ₹23 on August 19.

With the IPO price fixed at ₹160 per share, the latest GMP indicates an estimated listing price of ₹177 per share, representing a potential premium of 10.62% over the issue price.

Meanwhile, the Gaja Alternative Asset Management IPO has been subscribed 4.54 times overall, driven by strong demand from non-institutional investors and retail investors.

Gaja Alternative Asset Management IPO GMP Today

The latest Gaja Alternative Asset Management IPO GMP stood at ₹17 per share as of August 21, 2026.

At the IPO price of ₹160 per share, the current GMP suggests an estimated listing price of ₹177 per share.

This translates into an estimated listing premium of 10.62%.

Particulars	Details
IPO Price	₹160
Latest GMP	₹17
Estimated Listing Price	₹177
Estimated Listing Premium	10.62%
Overall Subscription	4.54x
GMP Trend	₹0–₹30

GMP is an unofficial indicator and does not guarantee the actual listing price.

Gaja Alternative Asset Management IPO GMP Trend

The IPO’s grey market premium has witnessed considerable volatility over the past few days.

The GMP remained at ₹0 from August 14 to August 16 before rising to ₹7 on August 17 and jumping sharply to ₹30 on August 18.

However, the premium has declined over the next three sessions, falling to ₹23 on August 19, ₹18 on August 20 and ₹17 on August 21.

GMP Date	IPO Price	GMP	Estimated Listing Price	Estimated Premium
August 21, 2026	₹160	₹17	₹177	10.62%
August 20, 2026	₹160	₹18	₹178	11.25%
August 19, 2026	₹160	₹23	₹183	14.37%
August 18, 2026	₹160	₹30	₹190	18.75%
August 17, 2026	₹160	₹7	₹167	4.38%
August 16, 2026	₹160	₹0	₹160	0.00%
August 15, 2026	₹160	₹0	₹160	0.00%

The latest GMP of ₹17 is ₹13 lower than the peak GMP of ₹30 recorded on August 18.

Gaja Alternative Asset Management IPO Estimated Listing Price

The estimated listing price is calculated by adding the latest GMP to the IPO price.

₹160 + ₹17 = ₹177

Based on the latest grey market premium, Gaja Alternative Asset Management shares could potentially list at around ₹177 per share.

This implies a potential gain of ₹17 per share, or 10.62%, over the IPO price of ₹160.

For investors applying for a lot of shares, the potential listing gain would depend on the IPO lot size and the actual listing price.

However, the actual listing price can differ significantly from the GMP-based estimate.

Gaja Alternative Asset Management IPO Subscription Status

The IPO has received strong investor demand, with the issue subscribed 4.54 times overall based on the latest available data.

The NII category emerged as the strongest segment, with subscription reaching 9.59 times.

Within the NII segment, the S-NII portion was subscribed 10.64 times, while the B-NII category was subscribed 9.06 times.

The retail individual investor (RII) portion was subscribed 4.91 times.

The QIB portion, however, remained relatively subdued at 0.12 times.

Gaja Alternative Asset Management IPO Subscription

Investor Category	Subscription
QIB	0.12x
NII	9.59x
S-NII	10.64x
B-NII	9.06x
RII	4.91x
Overall	4.54x

The subscription figures show that demand is being led primarily by non-institutional and retail investors, while QIB participation remains limited in the available data.

Gaja Alternative Asset Management IPO Investor Response

The issue has received bids for 2,40,62,500 shares, representing 2,58,737 lots.

The retail category, which accounts for 50% of the issue, has received bids for 1,20,31,250 shares, resulting in a subscription of 4.91 times.

The NII segment has received bids for 51,56,250 shares, taking its subscription to 9.59 times.

Within the NII category, the S-NII segment was subscribed 10.64 times, while B-NII received 9.06 times subscription.

The QIB portion, accounting for 28.6% of the issue, has been subscribed 0.12 times based on the latest available figures.

Gaja Alternative Asset Management IPO GMP vs Subscription

The latest data presents an interesting trend in the Gaja Alternative Asset Management IPO.

While the IPO’s overall subscription has climbed to 4.54 times, the GMP has declined from its recent high of ₹30 to ₹17.

The GMP-based estimated listing premium has therefore fallen from 18.75% on August 18 to 10.62% on August 21.

Despite the moderation in the grey market premium, strong demand in the NII and retail categories indicates healthy investor interest in the issue.

The final subscription figures and GMP movement will be key factors to watch ahead of the listing.

Gaja Alternative Asset Management IPO: Key Takeaways

• Latest GMP: ₹17 per share.
• IPO price: ₹160 per share.
• Estimated listing price: ₹177 per share.
• Estimated listing premium: 10.62%.
• Overall subscription: 4.54x.
• QIB subscription: 0.12x.
• NII subscription: 9.59x.
• S-NII subscription: 10.64x.
• B-NII subscription: 9.06x.
• RII subscription: 4.91x.
• Highest GMP: ₹30 on August 18.
• Latest GMP: ₹17 on August 21.
• GMP movement: Fell ₹13 from its August 18 peak.
• Total shares bid: 2,40,62,500.
• Total lots bid: 2,58,737.

What Does the Latest Gaja Alternative Asset Management IPO GMP Indicate?

The latest GMP of ₹17 suggests that grey market expectations remain positive, but the potential listing premium has moderated considerably from the 18.75% indicated on August 18.

At the same time, the IPO has attracted strong subscription demand, particularly from NIIs and retail investors.

Investors should note that GMP is an unofficial market indicator and can change rapidly depending on market sentiment, demand and broader market conditions. It should not be treated as a guarantee of the actual listing price.

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