Gaja Alternative Asset Management IPO GMP Today: GMP Trend, Subscription Status and Expected Listing Price

20 Aug 2026 , 11:37 AM

The Gaja Alternative Asset Management IPO continued to gain momentum in the grey market on August 20, 2026, with the latest grey market premium (GMP) rising to ₹24 per share. The IPO has also received a positive response from investors, with the issue subscribed 1.39 times overall.

With the IPO price fixed at ₹160 per share, the latest GMP of ₹24 indicates an estimated listing price of around ₹184 per share, implying a potential listing gain of approximately 15% over the issue price.

However, the GMP remains an unofficial indicator and should not be considered a guarantee of the actual listing price.

Gaja Alternative Asset Management IPO GMP Today

As of August 20, 2026, at 10:56 AM, the GMP for Gaja Alternative Asset Management IPO stood at ₹24, up from ₹23 on August 19.

At the current GMP of ₹24, the estimated listing price is ₹184 per share, compared with the IPO price of ₹160. This translates into an estimated listing premium of 15%.

GMP Date	IPO Price	GMP	Subscription	Estimated Listing Price	Estimated Gain
Aug 20, 2026	₹160	₹24	1.35x	₹184	15.00%
Aug 19, 2026	₹160	₹23	0.90x	₹183	14.37%
Aug 18, 2026	₹160	₹30	—	₹190	18.75%
Aug 17, 2026	₹160	₹7	—	₹167	4.38%
Aug 16, 2026	₹160	₹0	—	₹160	0%
Aug 15, 2026	₹160	₹0	—	₹160	0%
Aug 14, 2026	₹160	₹0	—	₹160	0%
Aug 13, 2026	₹160	₹0	—	₹160	0%

Gaja Alternative Asset Management IPO GMP Trend

The GMP trend has shown a sharp improvement over the past few sessions.

For several days from August 13 to August 16, the IPO was commanding no premium in the grey market, with the GMP remaining at ₹0. The GMP then moved to ₹7 on August 17 before jumping to ₹30 on August 18.

The premium moderated to ₹23 on August 19 but recovered slightly to ₹24 on August 20.

From ₹0 to ₹24 within a few sessions, the movement represents a significant improvement in grey-market sentiment.

At the current GMP, the IPO is indicating a potential listing gain of 15%. The highest GMP in the available eight-day trend was ₹30, recorded on August 18, when the estimated listing price stood at ₹190.

Gaja Alternative Asset Management IPO Subscription Status

The IPO has been subscribed 1.39 times overall, with strong participation from retail investors and non-institutional investors.

The issue received bids for approximately 2.41 crore shares, representing around 2.59 lakh lots based on the subscription data provided.

Category-wise Subscription

• Qualified Institutional Buyers (QIB): 0.10x
• Non-Institutional Investors (NII): 1.86x
• Small NII (S-NII): 2.83x
• Big NII (B-NII): 1.38x
• Retail Individual Investors (RII): 1.93x
• Overall: 1.39x

Retail Investors Show Strong Demand

The retail investor category was subscribed 1.93 times, making it one of the strongest segments of the issue.

The retail category received bids for around 1.20 crore shares, accounting for 50% of the total issue allocation in the provided subscription data.

The NII segment also recorded healthy demand at 1.86 times. Within this category, the S-NII portion was subscribed 2.83 times, while the B-NII segment stood at 1.38 times.

The strong response from non-institutional and retail investors has helped push the overall subscription beyond the one-time mark.

QIB Subscription Remains Weak

While retail and NII investors have shown strong interest, the QIB portion remained significantly under-subscribed at 0.10 times based on the latest subscription figures.

The QIB category accounts for 28.6% of the total issue in the provided data, with bids for around 68.75 lakh shares.

The disparity between QIB demand and retail/NII participation is an important factor for investors to monitor as the IPO progresses.

Gaja Alternative Asset Management IPO Expected Listing Price

At the latest GMP of ₹24, the estimated listing price of Gaja Alternative Asset Management shares is:

IPO Price: ₹160
Latest GMP: ₹24
Estimated Listing Price: ₹184
Potential Listing Gain: 15%

Based on the lot size reflected in the provided data, the estimated profit at a GMP-based listing is around ₹2,232 per lot.

However, the actual listing price could be higher or lower than this estimate because grey-market premiums are unofficial and can change based on market sentiment.

Gaja Alternative Asset Management IPO: GMP vs Subscription

The latest IPO data presents an interesting combination of improving GMP and strong retail/NII participation, but relatively weak QIB demand.

The GMP moved from ₹0 during the initial days to ₹30 on August 18 before settling at ₹24. At the same time, overall subscription has crossed one time, reaching 1.39x.

This suggests that grey-market sentiment has strengthened considerably even though institutional participation remains subdued.

Investors should therefore track the final subscription numbers alongside GMP movement rather than relying on the grey-market premium alone.

Key Factors to Watch for Gaja Alternative Asset Management IPO

1. GMP movement:
The GMP has risen sharply from ₹0 to ₹24, indicating a significant improvement in grey-market sentiment.

2. QIB demand:
QIB subscription remains at just 0.10x and could be an important metric to watch.

3. Retail and NII participation:
Retail investors have subscribed 1.93x, while NII demand stands at 1.86x.

4. Final subscription:
The overall subscription currently stands at 1.39x and could change as bidding continues.

5. Listing-day market conditions:
The actual listing price may differ from the GMP-implied estimate depending on broader market sentiment and demand on the listing day.

Gaja Alternative Asset Management IPO GMP Today: Key Takeaways

The Gaja Alternative Asset Management IPO GMP today stands at ₹24, according to the latest available data on August 20, 2026.

At an IPO price of ₹160, the latest GMP indicates an estimated listing price of ₹184, representing a potential listing premium of 15%.

The IPO has been subscribed 1.39 times overall, with retail investors subscribing 1.93 times and NII investors subscribing 1.86 times. The S-NII segment has recorded particularly strong demand at 2.83 times.

However, QIB participation remains weak at 0.10 times.

The GMP has also witnessed a sharp turnaround, moving from ₹0 during the initial days to ₹24 currently, after touching ₹30 on August 18.

Investors should note that GMP is an unofficial and speculative indicator. The actual listing price can differ materially from GMP-based estimates.

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