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What is the story about?
Shares of EAAA India Alternatives Ltd., an alternative investment platform backed by Edelweiss Financial Services, made a muted debut on the stock exchanges on Monday, November 2.
The stock listed at ₹1,675.50 on the National Stock Exchange (NSE), a premium of 0.63% over its issue price of ₹1,665. On the BSE, shares opened at ₹1,673, translating into a premium of 0.48%.
Ahead of the listing, the IPO was commanding a grey market premium (GMP) of around 3%, indicating expectations of a relatively stronger debut.
The ₹1,200-crore initial public offering (IPO) of EAAA India Alternatives was open for subscription between October 26 and October 28.
The public issue received an overall subscription of 5.51 times. The qualified institutional buyer (QIB) portion was subscribed 13.80 times, while the non-institutional investor (NII) category saw 4.81 times subscription. The retail investor portion was subscribed 1.08 times.
The company had fixed the IPO price band at ₹1,585-₹1,665 per share, valuing it at ₹10,765 crore at the upper end of the price band.
Ahead of the public issue, EAAA India Alternatives raised approximately ₹360 crore from anchor investors.
The company allotted 21,62,161 equity shares to anchor investors at ₹1,665 apiece, the upper end of the IPO price band, according to exchange filings.
The anchor book included 10 mutual funds, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Mutual Fund. Mutual funds accounted for 61% of the total anchor allocation.
Global institutional investors, including Norway's Government Pension Fund Global and asset manager Schroders, also participated in the anchor book. Domestic investment firms such as Carnelian, 360 ONE, Unifi and Nuvama were among the other investors.
The IPO was entirely an offer for sale (OFS) by the Edelweiss Group, with no fresh issue of shares. Consequently, the company will not receive any proceeds from the public offering, with the entire amount going to the selling shareholder.
About EAAA India Alternatives
Incorporated in 2008, EAAA India Alternatives manages long-term capital across multiple asset classes, including infrastructure, commercial real estate and private credit. The company has operations across Mumbai, New Delhi, GIFT City and Singapore.
Its business is primarily organised into two verticals: Real Assets and Private Credit, alongside portfolio management services and other investment solutions.
The Real Assets business focuses on investments in infrastructure, commercial real estate, perpetual capital and energy transition opportunities through equity, quasi-equity and debt instruments.
Its Private Credit business provides financing across performing credit, special situations, real estate credit and investment-grade credit. The platform also offers co-investment opportunities through its portfolio management services.
The stock listed at ₹1,675.50 on the National Stock Exchange (NSE), a premium of 0.63% over its issue price of ₹1,665. On the BSE, shares opened at ₹1,673, translating into a premium of 0.48%.
Ahead of the listing, the IPO was commanding a grey market premium (GMP) of around 3%, indicating expectations of a relatively stronger debut.
The ₹1,200-crore initial public offering (IPO) of EAAA India Alternatives was open for subscription between October 26 and October 28.
The public issue received an overall subscription of 5.51 times. The qualified institutional buyer (QIB) portion was subscribed 13.80 times, while the non-institutional investor (NII) category saw 4.81 times subscription. The retail investor portion was subscribed 1.08 times.
The company had fixed the IPO price band at ₹1,585-₹1,665 per share, valuing it at ₹10,765 crore at the upper end of the price band.
Ahead of the public issue, EAAA India Alternatives raised approximately ₹360 crore from anchor investors.
The company allotted 21,62,161 equity shares to anchor investors at ₹1,665 apiece, the upper end of the IPO price band, according to exchange filings.
The anchor book included 10 mutual funds, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Mutual Fund. Mutual funds accounted for 61% of the total anchor allocation.
Global institutional investors, including Norway's Government Pension Fund Global and asset manager Schroders, also participated in the anchor book. Domestic investment firms such as Carnelian, 360 ONE, Unifi and Nuvama were among the other investors.
The IPO was entirely an offer for sale (OFS) by the Edelweiss Group, with no fresh issue of shares. Consequently, the company will not receive any proceeds from the public offering, with the entire amount going to the selling shareholder.
About EAAA India Alternatives
Incorporated in 2008, EAAA India Alternatives manages long-term capital across multiple asset classes, including infrastructure, commercial real estate and private credit. The company has operations across Mumbai, New Delhi, GIFT City and Singapore.
Its business is primarily organised into two verticals: Real Assets and Private Credit, alongside portfolio management services and other investment solutions.
The Real Assets business focuses on investments in infrastructure, commercial real estate, perpetual capital and energy transition opportunities through equity, quasi-equity and debt instruments.
Its Private Credit business provides financing across performing credit, special situations, real estate credit and investment-grade credit. The platform also offers co-investment opportunities through its portfolio management services.
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