
EAAA India Alternatives IPO
- Price band
- —
- Issue size
- ₹1,200 Cr
- Min. investment
- —
- GMP
- ₹0
- 0.00%
- Subscribed
- —
- Bidding dates
- 26 – 28 Oct 2026
IPO timeline
- Opens26 OctMon
- Closes28 OctWed
- Allotment29 OctThu
- Refunds30 OctFri
- Demat credit30 OctFri
- Listing2 NovMon
Issue details
- Price band
- —
- Issue size
- ₹1,200 Cr
- Fresh issue
- Not available
- Offer for sale
- Not available
- Issue type
- Offer for sale only
- Face value
- ₹5 per share
- Lot size
- —
- Minimum investment
- —
- Listing on
- BSE, NSE
- Exchange code
- —
This issue combines a fresh issue and an offer for sale. The amounts for each part are not available in our data; see the offer document for the split.
Reservation
- QIB
- Not more than 50% of the Net Offer
- Retail
- Not less than 35% of the Net Offer
- NII
- Not less than 15% of the Net Offer
Grey market premium (GMP)
- Current GMP
- ₹0
- 0.00%
- Estimated listing price
- —
- Issue price —
GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.
Subscription status
Subscription figures will appear here once bidding opens on 26 Oct 2026.
Financials
- EPS (₹)
- 41.26
- RoE
- 25.97%
- RoNW
- 25.97%
- PAT Margin
- 27.52%
- Debt / Equity
- 0.41
- NAV (₹)
- 163.69
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Revenue from Operations | 275.53 | 869.54 | 670.26 | 492.58 |
| Total Income | 336.13 | 963.76 | 786.54 | 584.25 |
| Profit After Tax | 80.71 | 265.20 | 229.78 | 175.16 |
| Net Worth | 1160.38 | 1075.54 | 966.45 | 729.48 |
| Total Borrowing | 399.20 | 441.03 | 507.49 | 444.83 |
| Total Assets | 2101.84 | 2170.28 | 2085.07 | 1769.66 |
About EAAA India Alternatives
EAAA India Alternatives Limited was incorporated in Mumbai on 14 May 2008 as Edelweiss Alternative Asset Advisors Limited. It took its present name on 30 August 2024. The company is an alternative asset manager. It raises money from clients into funds, co-investment PMS schemes and InvITs, and invests that money in real assets and private credit. The business runs in two main verticals. Real Assets had FPAUM of Rs 25,402.98 crore on 31 March 2026. Private Credit had a further share, and other verticals are small. On 30 June 2026 the Real Assets portfolio included 3.10 million square feet of office space, 4,586 lane kilometres of roads, 1,835 circuit kilometres of transmission lines and 1.73 gigawatts of solar assets. The Private Credit portfolio had 190 investments with 140 completed exits. The company earns three kinds of income. Management and advisory fees were Rs 579.07 crore in FY2026. Variable additional return, a performance-linked fee earned once a fund crosses its hurdle rate, was Rs 290.47 crore. GP income, the return on the company's own money invested in its funds, was Rs 79.95 crore. It had 5,936 clients on 31 March 2026 and 11,009 on 30 June 2026. About 77% of AUM comes from repeat clients. On 31 March 2026, 47.84% of AUM was from institutional clients such as pension funds, insurers and banks, and 52.16% from non-institutional clients such as HNIs and family offices. Clients outside India were 41.52% of AUM. The company had 277 employees on 30 June 2026, including an investment team of 85. It has offices in Mumbai, New Delhi, GIFT City and Singapore and works with 53 distributors, channel partners and offshore relationship managers. The promoters are Edelweiss group companies. This page is based on the addendum to the DRHP dated 13 August 2026, which updates the January 2026 DRHP.
Strengths
- FPAUM, the assets on which the company earns fees, grew from Rs 30,398.01 crore on 31 March 2024 to Rs 44,710.44 crore on 31 March 2026.
- Total income rose from Rs 584.25 crore in FY2024 to Rs 963.76 crore in FY2026, and profit after tax from Rs 175.16 crore to Rs 265.20 crore.
- Return on equity was 25.97% in FY2026, with a PAT margin of 27.52% on total income.
- Debt to equity came down from 0.61 on 31 March 2024 to 0.41 on 31 March 2026, as net worth rose to Rs 1,075.54 crore.
- About 77% of AUM comes from repeat clients, and 1,493 clients had invested in more than one fund by 30 June 2026.
- Operating cash flow was positive at Rs 235.24 crore in FY2026 after being negative in FY2025 and FY2024.
- Management and advisory fees, the steadier fee line, grew from Rs 398.01 crore in FY2024 to Rs 579.07 crore in FY2026.
Risks
- The whole issue is an offer for sale of up to Rs 1,500 crore by Edelweiss Securities and Investments Private Limited. The company gets no fresh money.
- Promoters and the promoter group hold 95.58% before the issue, and the promoter group already sold 28,40,000 shares in a secondary deal after the DRHP was filed.
- Variable additional return was Rs 290.47 crore in FY2026, about 30% of total income. It depends on funds beating hurdle rates and on exits, so it can swing.
- GP income fell from Rs 102.14 crore in FY2025 to Rs 79.95 crore in FY2026, and other income was Rs 94.22 crore in FY2026.
- Operating cash flow was negative at Rs -120.17 crore in FY2025 and Rs -13.27 crore in FY2024 even though profit rose.
- The cost to income ratio was 68.52% in the quarter ended 30 June 2026, against 63.33% a year earlier.
- Institutional clients fell from 64.83% of AUM on 31 March 2024 to 47.84% on 31 March 2026, so the client mix has moved towards non-institutional investors.
- The Chief Executive Officer Subahoo Chordia resigned on 7 June 2026, an independent director resigned on 30 July 2026 and a senior management member resigned on 1 April 2026.
- Total borrowings were still Rs 441.03 crore on 31 March 2026, and current tax was a small part of the tax charge of Rs 73.44 crore, the rest being deferred tax.
Objects of the issue
- No fresh issue. The entire offer proceeds go to the selling shareholder
Promoters and shareholding
Edelweiss Financial Services Limited, Edelweiss Securities and Investments Private Limited, Edel Finance Company Limited and Edelweiss Global Wealth Management Limited
- Promoter holding, pre-issue
- 95.58%
- Promoter holding, post-issue
- 95.03%
Registrar, lead managers and documents
Lead managers
Company contact
Edelweiss House, Off C.S.T Road, Kalina, Mumbai 400 098, Maharashtra
+91 22 4019 4706
ipo@eaaa.inDocuments
EAAA India Alternatives IPO: common questions
1.When does the EAAA India Alternatives IPO open and close?
The EAAA India Alternatives IPO opens on 26 Oct 2026 and closes on 28 Oct 2026.
2.What is the size of the EAAA India Alternatives IPO?
The issue size is ₹1,200 Cr (Offer for sale only).
3.What is the GMP of the EAAA India Alternatives IPO?
The last reported grey market premium is ₹0 per share as of 21 Oct 2026, 09:36 AM IST. GMP is unofficial and changes frequently.
4.When is the EAAA India Alternatives IPO allotment?
The basis of allotment is expected on 29 Oct 2026. Allotment status can be checked with the registrar, MUFG Intime India Private Limited.
5.When will the EAAA India Alternatives IPO list?
The shares are expected to list on 2 Nov 2026 on BSE, NSE.
6.Who is the lead manager of the EAAA India Alternatives IPO?
The book running lead managers are Nuvama Wealth Management Ltd., Axis Capital, Motilal Oswal Investment Advisors, Jefferies India Private Limited, and the registrar is MUFG Intime India Private Limited.
7.What will the money raised in the EAAA India Alternatives IPO be used for?
As stated in the offer document, the proceeds are for: No fresh issue. The entire offer proceeds go to the selling shareholder.
8.How can my company launch an IPO like EAAA India Alternatives?
Start with an IPO readiness assessment: eligibility for the Main Board, audited financials, governance, conversion to a public limited company and an indicative valuation. Be IPO Ready advises promoters through each step, from readiness to listing day.
For business owners
Your company could be the next listing
Businesses like these raise growth capital on the public markets every week. Tell us about yours and our advisors will tell you, plainly, whether an IPO is within reach and what it would take.
- Eligibility check against NSE Emerge, BSE SME and Main Board norms
- Indicative valuation and issue size for your business
- A clear timeline from readiness to listing day
Check if your business can list
Fill in the eligibility form and get an assessment of where you stand. It takes about five minutes.
Prefer to talk? Call +91 95377 67203