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EAAA India Alternatives IPO

₹1,585.00 to ₹1,665.00Price band

Bidding opened on 26 October 2026 and closes on 28 October 2026, in 2 days.

Subscription and grey market figures refresh on a 30-minute cycle. Last synced 26 October 2026. Confirm current numbers on the exchange websites before you apply.

Issue size
₹1,200.00 Cr
Lot size
9 shares
Minimum investment
₹14,985.00
Face value
₹5.00
Fresh issue
Not announced
Offer for sale
₹1,200.00 Cr
Exchanges
NSE and BSE
Bidding dates
26 October 2026 to 28 October 2026

Subscription so far

How many times each investor category has bid against the shares reserved for it. A multiple of 1.00x means bids covered the category exactly; above that, the category is oversubscribed.

Subscription by investor category, bidding day 3
CategoryTimes subscribedRelative to the highest category
bNIINon-institutional (bids above ₹10 lakh)0.06x
NIINon-institutional investors0.04x
TotalTotal0.02x
sNIINon-institutional (bids up to ₹10 lakh)0.01x
RetailRetail individual investors0.01x
QIBQualified institutional buyers0.00x
Total0.02x

Figures from bidding day 3. A multiple of 1.00x means bids exactly covered the shares offered; above that the issue is oversubscribed. Source share counts are not published in this dataset, so only the multiple is shown.

The dates that matter

An Indian IPO runs on a fixed calendar. Bidding stays open for three working days, the allotment is finalised the next working day, and the shares begin trading the day after that.

    Issue dates

  1. Anchor investor biddingCompleted

    23 October 2026

    One day before the public window, for institutional anchors.

  2. Bidding opensNext

    26 October 2026 in today

  3. Bidding closes

    28 October 2026

  4. Basis of allotment

    29 October 2026

  5. Refunds initiated

    30 October 2026

  6. Shares credited to Demat

    30 October 2026

  7. Listing on the exchange

    2 November 2026

Grey market premium

Grey market premium is the price traders quote among themselves for shares that have not listed yet. Below is the full day-by-day record we hold for this issue, not only the latest figure, because the movement across the bidding window says more than any single day does.

-1523619813620 Oct26 Oct
Grey market premium per share over 7 recorded days. Hover or use the arrow keys to read any day.
Grey market premium history for EAAA India Alternatives
DatePremium per share
2026-10-200
2026-10-210
2026-10-220
2026-10-23121
2026-10-2445
2026-10-2533
2026-10-2635
Day by day, 7 records
DatePremium per shareImplied listing priceImplied gain
26 October 2026₹35.00₹1,700.002.10%
25 October 2026₹33.00₹1,698.001.98%
24 October 2026₹45.00₹1,710.002.70%
23 October 2026₹121.00₹1,786.007.27%
22 October 2026Not recorded₹1,665.000.00%
21 October 2026Not recorded₹1,665.000.00%
20 October 2026Not recordedNot recordedNot recorded

About EAAA India Alternatives

EAAA India Alternatives Ltd. runs an alternative investment management platform from Mumbai. It pools money from domestic and global institutional investors, high-net-worth individuals, ultra-high-net-worth individuals and family offices, then invests that money in two areas: real assets and private credit. The real assets arm buys equity, quasi-equity and debt in infrastructure, commercial real estate, perpetual capital and energy transition projects. The private credit arm lends across performing credit, special situations, real estate credit and investment-grade credit. The company also sells portfolio management services and co-investment opportunities. As of June 30, 2026 it ran 10 active real assets funds, two of them InvITs, and 16 active private credit funds. Its wholly owned subsidiary, Sekura India Management Limited, handles operations, maintenance and performance monitoring for portfolio assets. EAAA India Alternatives employed 277 people as of June 30, 2026.

Promoters

  • Edelweiss Financial Services Ltd.
  • Edelweiss Securities & Investments Pvt.Ltd.
  • Edel Finance Co.Ltd.
  • Edelweiss Global Wealth Management Ltd.axi

Financial highlights

The last three fiscal years as the offer document states them. Reading across a row shows whether the figure has grown, which is why the years run left to right.

Metric (₹ crore)Mar 2024Mar 2025Mar 2026Jun 2026
Assets1,769.662,085.072,170.282,101.84
Total Income584.25786.54963.76336.13
Profit After Tax175.16229.78265.2080.71
NET Worth729.48966.451,075.541,160.38
Reserves and Surplus480.64934.311,043.401,128.24
Total Borrowing444.83507.49441.03399.20

Figures are in ₹ crore and reproduced from the offer document, covering Mar 2024 to Jun 2026. A dash means the document does not state that figure for that period. A fiscal year ending March is labelled by its closing month, and where the document states a figure on a different basis the label here follows the document rather than normalising it.

Key ratios

Valuation and return ratios calculated from the issuer's financials. These are the figures the issue price is usually judged against, and the offer document carries the working behind each one.

RatioValueWhat it measures
Earnings per share₹41.02Profit after tax divided by the number of shares.
P/E at the cap price40.59xIssue price divided by earnings per share. Lower is cheaper, but only against the same industry.
P/E after the issue33.35xThe same ratio recalculated on the larger post-issue share count.
Price to book10.17xIssue price against net assets per share.
Net asset value per share₹163.69What the company owns, less what it owes, per share.
Return on equity25.97%Profit earned on shareholders’ money.
Return on net worth25.97%The offer document’s own name for return on shareholders’ funds.
Debt to equity0.41xBorrowings against shareholders’ funds. Higher means more leverage.
Profit margin27.52%Profit after tax as a share of income.
Market capitalisation₹10,765.10 CrValue of the company at the issue price.

Ratios are stated as published. A ratio that is absent here was not stated in the document, and is not the same as a ratio of zero.

Peer comparison

The offer document compares the issuer against listed companies in the same business, on earnings, book value and return on net worth. EAAA India Alternatives is the first row.

Peer comparison from the offer document. EAAA India Alternatives is the first row.
CompanyEPS (₹)P/ENAV per share (₹)RoNW
EAAA India Alternatives LtdThis issue41.26—₹163.6925.97%
360 One Wam Ltd.30.1635.67₹242.1714.39%
Aditya Birla Sun Life Amc Ltd.33.7629.84₹139.9425.10%
Anand Rathi Wealth Ltd.47.8790.69₹120.2347.54%
Gaja Alternative Asset Management Ltd.7.1716.47₹53.7316.47%
Hdfc Asset Management Co.Ltd.66.7733.76₹215.4232.93%
Icici Prudential Asset Management Co.Ltd.66.7345.95₹84.3985.80%
Nippon Life India Asset Management Ltd.24.0543.99₹73.0134.48%
Nuvama Wealth Management Ltd.57.5930.99₹226.3727.34%
Uti Asset Management Co.Ltd.31.5127.93₹350.5010.38%

Reproduced from the peer comparison in the offer document. A dash means the document does not state that figure for that company. It is absent, not zero. Ratios are reported on the basis named in the document, which is not always the same period for every company.

Who gets what share

SEBI fixes how much of a book-built issue each investor category can be allotted. This is the split for this issue as stated in the offer document.

Reservation by investor category
CategoryShare of issueAmount
Retail individual investors35.00%₹420.00 Cr
Qualified institutional buyers20.00%₹240.00 Cr
Non-institutional (bids above ₹10 lakh)10.00%₹120.00 Cr
Non-institutional (bids up to ₹10 lakh)5.00%₹60.00 Cr

Percentages are reproduced as text from the offer document. A dash means the document does not state an amount for that category. Categories are labelled using the document's own terms, which differ slightly between issues.

Questions people ask

One lot is 9 shares. The price band is ₹1,585.00 to ₹1,665.00, and the block is calculated at the top of it, ₹1,665.00. That comes to ₹14,985.00 held in your bank account until the allotment is finalised. If you are not allotted, the block is released and the money never leaves your account.

Bidding runs from 26 October 2026 to 28 October 2026. Applications can be revised or withdrawn while bidding is open. Once it closes, the registrar finalises the basis of allotment the next working day and shares are credited the day after.

The last recorded total is 0.02x. That figure is a snapshot refreshed every 30 minutes, so it can lag the exchange during a bidding day. A multiple above 1.00x means bids exceeded the shares offered.

The most recent recorded premium is ₹35.00 per share, against ₹121.00 when recording began on 23 October 2026. The movement across those days says more than either number on its own.

Retail applications run from 1 lot to 13 lots. The retail category caps an application at ₹2,00,000, so the upper limit is whichever comes first: the lot ceiling or the value ceiling.

Sources