EAAA India Alternatives IPO Day 3: Check GMP, subscription status and key details
EAAA India Alternatives Rs 1,200-crore IPO entered its final subscription day on October 28, 2026, with 33% subscription on day two and a modest 1% grey market premium. The entirely offer-for-sale issue features a Rs 1,585–Rs 1,665 price band. FY26 income rose 23%, while profit increased 15%.
EAAA India Alternatives IPO entered its third and final day of subscription on Wednesday. The issue is commanding a grey market premium (GMP) of around 1%, suggesting modest potential listing gains over the issue price. However, the GMP is an unofficial indicator of market sentiment and does not guarantee the stock's listing performance.On the second day of bidding, the IPO was subscribed 33% overall against the 52.99 lakh shares on offer.
Retail individual investors (RIIs) subscribed to 11% of the 26.49 lakh shares reserved for them.The Rs 1,200-crore public issue is entirely an offer for sale (OFS) of 72.07 lakh equity shares by promoter selling shareholder Edelweiss Securities & Investments Pvt. Ltd. As the IPO comprises only an OFS, the company will not receive any proceeds from the issue, with the entire amount going to the selling shareholder.EAAA India Alternatives has fixed the IPO price band at Rs 1,585–Rs 1,665 per equity share, with a face value of Rs 5 per share.
The issue will close on October 28, 2026, while the basis of allotment is expected to be finalised on October 29. The 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 required for a retail investor is Rs 14,985.Live EventsThe IPO's price band represents a valuation of 317 times the face value at the lower end and 333 times at the upper end.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%. For the three-month period ended June 30, 2026, its RoNW was 28.96% on an annualised basis.Ahead of the public issue, 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, which is 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, while MUFG Intime India Pvt. Ltd. is the registrar.EAAA India Alternatives IPO Subscription StatusOn the second day of bidding, EAAA India Alternatives IPO was subscribed 33% overall against the 52.99 lakh shares offered.Among investor categories, non-institutional investors (NIIs) subscribed to 69% of the 11.35 lakh shares reserved for them, while qualified institutional buyers (QIBs) subscribed to 45% of the 15.14 lakh shares allocated to their category.Retail individual investors (RIIs) subscribed to 11% of the 26.49 lakh shares reserved for them.EAAA India Alternatives IPO GMP TodayEAAA India Alternatives IPO is commanding a grey market premium (GMP) of Rs 15 per share, or around 1%, over the upper end of the price band of Rs 1,665.
Based on this premium, the estimated listing price stands at Rs 1,680 per share.However, the GMP is an unofficial indicator of investor sentiment and does not guarantee the actual listing price or returns.Financial PerformanceEAAA 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 AlternativesIncorporated 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.Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.
They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here(You can now subscribe to our ETMarkets WhatsApp channel)
