<a href="https://www.mid-day.com/business/business-news/article/eaaa-india-alternatives-to-open-rs-1200-crore-ipo-on-october-26-23656058" target="_blank" rel="none noopener">EAAA India Alternatives</a> Ltd, an arm of Edelweiss Financial Services, has fixed a price band of Rs 1,585-1,665 per share for its Rs 1,200-crore Initial Public Offering (IPO), valuing the company at Rs 10,765 crore at the upper end.
The public issue will open for subscription on October 26 and close on October 28. Bidding by anchor investors is scheduled for October 23, according to a public announcement on Wednesday.
The IPO is entirely an Offer For Sale (OFS) by the Edelweiss Group, with no fresh issue component.
Consequently, the company will not receive any proceeds from the public offering, and the entire amount will go to the selling shareholder.
The issue size has been reduced to Rs 1,200 crore from the Rs 1,500 crore proposed in the <a href="https://www.mid-day.com/business/business-news/article/subway-restaurants-operator-everbrands-india-files-draft-papers-with-sebi-for-rs-600-crore-ipo-23652483" target="_blank" rel="none noopener">Draft Red Herring Prospectus (DRHP)</a> filed with the Securities and Exchange Board of India (Sebi) in January.
In March, Edelweiss Financial Services completed the sale of a 4.4 per cent stake in EAAA India Alternatives for Rs 375 crore.
At the upper end of the price band, the company has an implied market capitalisation of Rs 10,765 crore, while the valuation stands at Rs 10,248 crore at the lower end.
Shares are expected to list on the BSE and NSE on November 2.
Incorporated in 2008, EAAA India Alternatives is an alternative investment platform with over 15 years of experience in managing long-term capital.
The company operates a diversified, multi-strategy platform across alternative asset classes, focusing on income and yield solutions for clients.
Its investment portfolio spans real assets, including infrastructure assets in the energy and transportation sectors, commercial real estate and private credit, which offers financing solutions across the risk spectrum.
The company has offices in Mumbai, New Delhi, GIFT City and Singapore.
As per the IPO structure, the company has reserved 50 per cent of the offer for <a href="https://www.mid-day.com/business/business-news/article/jio-platforms-ipo-qib-portion-fully-subscribed-at-over-2x-demand-23656184" target="_blank" rel="none noopener">Qualified Institutional Buyers (QIBs)</a>, 15 per cent for Non-Institutional Investors (NIIs) and 35 per cent for retail investors.
Axis Capital, Jefferies India, Motilal Oswal and Nuvama Wealth are the book-running lead managers to the issue. MUFG Intime India is the registrar.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

The company aims to raise Rs 1,200 crore from the IPO, as against the Rs 1,500 crore proposed in the Draft Red Herring Prospectus

EAAA India Alternatives IPO: Price band fixed at Rs 1,585-1,665 

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The issue size has been reduced to Rs 1,200 crore from the Rs 1,500 crore proposed in the Draft Red Herring Prospectus filed with the Securities and Exchange Board of India in January

EAAA India Alternatives IPO: Price band fixed at Rs 1,585-1,665; to raise Rs 1200 crore

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