EAAA India Alternatives IPO booked 38% so far on Day 3; check latest GMP

The qualified institutional buyers category saw 55 percent subscription. In the grey market, the EAAA India Alternatives IPO was commanding a grey market premium (GMP) of nearly 1 percent on the morning of October 28, according to InvestorGain. Read Also: BLS Polymers IPO subscribed over 11x so far on Day 2; GMP rises to 30% The grey market premium is an unofficial indicator of investor sentiment towards a public issue before its listing.

However, it does not guarantee listing gains, and the premium can fluctuate depending on market conditions and investor demand. The Rs 1,200-crore public issue will remain open for subscription from October 26 to October 28. The company has fixed the price band at Rs 1,585-1,665 per share. The IPO is entirely an offer-for-sale (OFS), through which promoter entity Edelweiss Securities and Investments will sell its stake in the company.

Since the issue comprises only an offer-for-sale, the company will not receive any proceeds from the IPO. The proceeds, excluding offer-related expenses, will go to the selling shareholder. Ahead of the public issue, EAAA India Alternatives raised Rs 360 crore through its anchor book. The anchor investors included Government Pension Fund Global, Schroder International, Hornbill Capital Advisors, Goldman Sachs and BNP Paribas Financial Markets.

Axis Capital, Jefferies India, Motilal Oswal Investment Advisors and Nuvama Wealth Management are acting as the merchant bankers to the issue. EAAA India Alternatives operates primarily across two business verticals: real assets and private credit. It also offers portfolio management services and focuses on managing long-term capital. As of June 2026, the company had assets under management (AUM) of Rs 95,344.8 crore.

Under its real assets business, the company invests in infrastructure and commercial real estate assets through a combination of equity, quasi-equity and debt instruments. Its private credit business provides credit and flexible financing solutions to borrowers. These investments allow the company to participate in alternative investment opportunities beyond traditional listed equity and debt markets.