Gaja Alternative Asset Management Limited IPO — Subscription & GMP

Business Model of Gaja Alternative Asset Management Limited

Gaja Alternative Asset Management Limited (operating under the brand Gaja Capital) is an independent alternative asset management and private equity firm. The company primarily acts as an investment manager for India-focused Category I and Category II Alternative Investment Funds (AIFs) and serves as an advisor to offshore funds investing in Indian enterprises.

Core Offerings & Approach: Gaja Capital provides growth capital to mid-market companies. It differentiates itself through a highly engaged "invest-and-collaborate" approach, where it goes beyond capital infusion to actively assist portfolio companies with business strategy, governance, human resources, product development, and financial management. Target Markets: The firm focuses its investments across high-growth sectors, primarily targeting education, employment and employability (EEE), financial services, consumer, energy and environment, and digital technology. It serves a diverse global investor base, with limited partners spread across more than 20 countries. Revenue Generation: The company operates on a standard private equity revenue model supplemented by high proprietary alignment. It generates income through three main streams : 1. Management Fees: Recurring fees charged to the funds it manages and advises. 2. Carried Interest: Performance-based profit shares derived from the successful exit and high returns of its fund investments. 3. Sponsor Commitments:* Gains and income generated from its own capital invested alongside its limited partners (acting as "skin in the game"), which stood at approximately ₹274 crore across its funds as of March 2026.