{"id":325215,"date":"2026-10-23T13:08:17","date_gmt":"2026-10-23T07:38:17","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=325215"},"modified":"2026-10-23T13:08:17","modified_gmt":"2026-10-23T07:38:17","slug":"eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/","title":{"rendered":"EAAA India Alternatives IPO to Open on 26 Oct: Price Band, GMP, Financials and Key Risks of the Edelweiss Unit&#8217;s Rs 1,200 Crore Issue"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>EAAA India Alternatives IPO opens on Monday, 26 Oct 2026 and closes on Wednesday, 28 Oct, with a price band of Rs 1,585 to Rs 1,665 per share and a lot of 9 shares. It is an offer for sale of up to Rs 1,200 crore by Edelweiss Securities and Investments, so the company receives no money. The anchor round is on 23 Oct and listing is expected on 2 Nov on NSE and BSE.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">EAAA India Alternatives IPO values the Edelweiss alternative asset manager at about Rs 10,765 crore at the upper band. That is about 40 times FY26 earnings per share and about 9.4 times the June 2026 net asset value per share (my calculation). The issue is entirely an offer for sale, so the proceeds go to the selling shareholder. The grey market premium was shown as zero on one tracking site, which is unofficial and may change once bidding opens.<\/p>\n<\/p><\/div>\n<p>EAAA India Alternatives IPO brings a rare alternative asset manager to the Indian market, since there are few listed alternative asset managers to compare it with. The company manages Rs 95,344.8 crore of assets across real assets and private credit, and it earns fees from managing money for institutions and wealthy families.<\/p>\n<p>This article on EAAA India Alternatives IPO covers the dates, price band, business, financials, valuation, GMP and risks. It is educational and not a recommendation to apply or avoid.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#EAAA_India_Alternatives_IPO_Key_Details\" title=\"EAAA India Alternatives IPO Key Details\">EAAA India Alternatives IPO Key Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#What_Does_EAAA_India_Alternatives_Do\" title=\"What Does EAAA India Alternatives Do?\">What Does EAAA India Alternatives Do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#EAAA_India_Alternatives_IPO_Financials\" title=\"EAAA India Alternatives IPO Financials\">EAAA India Alternatives IPO Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#Latest_Quarter_Behind_the_EAAA_India_Alternatives_IPO\" title=\"Latest Quarter Behind the EAAA India Alternatives IPO\">Latest Quarter Behind the EAAA India Alternatives IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#EAAA_India_Alternatives_IPO_Valuation\" title=\"EAAA India Alternatives IPO Valuation\">EAAA India Alternatives IPO Valuation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#EAAA_India_Alternatives_IPO_GMP\" title=\"EAAA India Alternatives IPO GMP\">EAAA India Alternatives IPO GMP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#Risks_Listed_for_the_EAAA_India_Alternatives_IPO\" title=\"Risks Listed for the EAAA India Alternatives IPO\">Risks Listed for the EAAA India Alternatives IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#What_to_Watch_Next_on_the_EAAA_India_Alternatives_IPO\" title=\"What to Watch Next on the EAAA India Alternatives IPO\">What to Watch Next on the EAAA India Alternatives IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#When_does_the_EAAA_India_Alternatives_IPO_open_and_close\" title=\"When does the EAAA India Alternatives IPO open and close?\">When does the EAAA India Alternatives IPO open and close?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#What_is_the_EAAA_India_Alternatives_IPO_price_band_and_lot_size\" title=\"What is the EAAA India Alternatives IPO price band and lot size?\">What is the EAAA India Alternatives IPO price band and lot size?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#Is_the_EAAA_India_Alternatives_IPO_a_fresh_issue_or_an_offer_for_sale\" title=\"Is the EAAA India Alternatives IPO a fresh issue or an offer for sale?\">Is the EAAA India Alternatives IPO a fresh issue or an offer for sale?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#What_is_the_EAAA_India_Alternatives_IPO_GMP_today\" title=\"What is the EAAA India Alternatives IPO GMP today?\">What is the EAAA India Alternatives IPO GMP today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#What_are_the_EAAA_India_Alternatives_financials\" title=\"What are the EAAA India Alternatives financials?\">What are the EAAA India Alternatives financials?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#Is_the_EAAA_India_Alternatives_IPO_expensive\" title=\"Is the EAAA India Alternatives IPO expensive?\">Is the EAAA India Alternatives IPO expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#What_are_the_risks_of_the_EAAA_India_Alternatives_IPO\" title=\"What are the risks of the EAAA India Alternatives IPO?\">What are the risks of the EAAA India Alternatives IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/eaaa-india-alternatives-ipo-opens-26-oct-price-band-1585-1665-gmp-financials-edelweiss-alternative-asset-manager\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"EAAA_India_Alternatives_IPO_Key_Details\"><\/span><strong>EAAA India Alternatives IPO Key Details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">EAAA India Alternatives IPO: detail<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Information<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Issue size<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up to Rs 1,200 crore, 72,07,207 shares of face value Rs 5<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Type of issue<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Book-built offer for sale only, no fresh issue<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Selling shareholder<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Edelweiss Securities and Investments, a subsidiary of Edelweiss Financial Services<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price band<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,585 to Rs 1,665 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lot size<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">9 shares, minimum investment Rs 14,985<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Maximum retail bid<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">117 shares, Rs 1,94,805 (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Anchor round<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">23 Oct 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bidding dates<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">26 Oct to 28 Oct 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Allotment and listing<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Allotment around 29 Oct; listing around 2 Nov (expected)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Valuation at the upper band<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 10,765 crore<\/td>\n<\/tr>\n<\/table>\n<p>The lead managers are Axis Capital, Jefferies India, Motilal Oswal Investment Advisors and Nuvama Wealth Management, and MUFG Intime India is the registrar. The sources I checked did not list the reservation split for retail, institutional and non-institutional investors, so check the red herring prospectus for the EAAA India Alternatives IPO quota. The offer equals about 11.2% of the post-issue equity (my calculation).<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Compare IPO details and track upcoming issues on the Univest IPO page<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Does_EAAA_India_Alternatives_Do\"><\/span><strong>What Does EAAA India Alternatives Do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The company behind the EAAA India Alternatives IPO was founded on 14 May 2008 and runs two broad businesses. Real assets invest in infrastructure and commercial real estate through equity, quasi-equity and debt, and private credit covers performing credit, special situations, real estate credit and investment-grade credit. It also offers portfolio management services with co-investment options.<\/p>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">EAAA India Alternatives IPO: business metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Assets under management (30 Jun 2026)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 95,344.8 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Fee-paying assets under management<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 48,623 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Client relationships<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">11,009<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Institutional clients&#8217; share of AUM<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">49.32%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Repeat clients<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">77%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Strategies<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Performing credit, special situations, real estate credit, infrastructure yield, energy transition<\/td>\n<\/tr>\n<\/table>\n<p>For the EAAA India Alternatives IPO, only about half of the assets pay a fee, which matters because revenue follows fee-paying assets and performance fees. A high share of repeat clients at 77% shows that investors come back, a useful sign for a business that depends on trust. Its subsidiary Sekura India Management works across 16 states.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"EAAA_India_Alternatives_IPO_Financials\"><\/span><strong>EAAA India Alternatives IPO Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">EAAA India Alternatives IPO: metric (Rs crore unless stated)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">FY24<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">FY25<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">FY26<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total income<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">584.3<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">786.5<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">963.8<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">162.9<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">228.4<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">313.4<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">175.2<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">229.8<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">265.2<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">29.98%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">29.21%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">27.52%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EPS (Rs)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">27.25<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">35.75<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">41.26<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">27.30%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">27.10%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">25.97%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt to equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.61<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.53<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.41<\/td>\n<\/tr>\n<\/table>\n<p>Total income grew about 35% in FY25 and 23% in FY26, while net profit rose about 31% and 15% (as reported by Paytm Money, and I have rounded the crore figures from million). Net profit growth slowed in FY26 and the margin has drifted down from 29.98% to 27.52%. Net profit above EBITDA in the first two years suggests income from other sources, so read the prospectus for how that profit is made up.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get IPO alerts and track GMP updates.<\/em><\/p>\n<p><strong>Data note:<\/strong> These figures come from the company&#8217;s offer documents as reported by IPO sites. A few sites show different numbers, so check the red herring prospectus on the SEBI or exchange website.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Latest_Quarter_Behind_the_EAAA_India_Alternatives_IPO\"><\/span><strong>Latest Quarter Behind the EAAA India Alternatives IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">EAAA India Alternatives IPO: Q1 FY27 (June 2026)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 275.5 crore, up 44.4% from Rs 190.8 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 80.7 crore, up 45% from Rs 55.7 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">28.96%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt to equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.34<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">24.01%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net asset value per share<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 176.67 (Rs 163.69 at March 2026)<\/td>\n<\/tr>\n<\/table>\n<p>Growth picked up in the June quarter before the EAAA India Alternatives IPO, with revenue up 44.4% and profit up 45%. The net profit margin of 24.01% is lower than in FY26, so profit is growing but the share of income kept as profit is not rising. Quarterly numbers in an asset manager can swing with performance fees, so one strong quarter is not a trend.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"EAAA_India_Alternatives_IPO_Valuation\"><\/span><strong>EAAA India Alternatives IPO Valuation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">EAAA India Alternatives IPO: valuation measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure (my calculation)<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to earnings on FY26 EPS of Rs 41.26<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 40 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to book on June 2026 net asset value<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 9.4 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market value at the upper band<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 10,765 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Post-issue share count<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 6.47 crore shares<\/td>\n<\/tr>\n<\/table>\n<p>At the upper band the EAAA India Alternatives IPO is priced at about 40 times trailing earnings, which is a high multiple for a business whose profit growth slowed to 15% in FY26. Annualising the June quarter profit lowers the multiple to roughly 33 times, but that is a rough estimate because quarterly profit can vary. Paytm Money&#8217;s blog shows the valuation as Rs 1.08 lakh crore, which looks like an error, since the share count and price give about Rs 10,765 crore.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"EAAA_India_Alternatives_IPO_GMP\"><\/span><strong>EAAA India Alternatives IPO GMP<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One tracking site, GMP IPO Watch, showed a grey market premium of zero on 22 Oct and 23 Oct, which implies an estimated listing price equal to the upper band of Rs 1,665. A zero reading often means that the grey market has not started trading in the stock yet. GMP is unofficial, unregulated and changes fast, so it should not be your main reason to apply or avoid.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_Listed_for_the_EAAA_India_Alternatives_IPO\"><\/span><strong>Risks Listed for the EAAA India Alternatives IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Variable additional return.<\/strong> A portion of income depends on performance fees whose size and timing are uncertain.<\/li>\n<li><strong>Market sensitivity.<\/strong> Fee income depends on fund performance and market conditions, which can change quickly.<\/li>\n<li><strong>Valuation estimates.<\/strong> Illiquid assets are valued using estimates, so reported values may differ from what the assets fetch on sale.<\/li>\n<li><strong>No direct listed peers.<\/strong> With few comparable listed Indian firms, judging fair value is harder.<\/li>\n<li><strong>Client capital commitments.<\/strong> Some clients may not fulfil the capital they have committed.<\/li>\n<li><strong>Client concentration and regulation.<\/strong> A few large clients and changes in rules can affect revenue.<\/li>\n<li><strong>Offer for sale.<\/strong> The company receives no proceeds, so the issue does not add growth capital.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_on_the_EAAA_India_Alternatives_IPO\"><\/span><strong>What to Watch Next on the EAAA India Alternatives IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The anchor round results on 23 Oct and the names of the investors<\/li>\n<li>The subscription numbers by category from 26 Oct to 28 Oct, especially on the last day<\/li>\n<li>The reservation quota and the final price band in the red herring prospectus<\/li>\n<li>The allotment status around 29 Oct on the MUFG Intime India website<\/li>\n<li>The listing price around 2 Nov against the upper band of Rs 1,665<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>EAAA India Alternatives IPO is a Rs 1,200 crore offer for sale from the Edelweiss group, an alternative asset manager, opening on 26 Oct at Rs 1,585 to Rs 1,665 per share. The business behind the EAAA India Alternatives IPO has strong return on equity and growing assets, but the valuation of about 40 times earnings, slowing FY26 profit growth and dependence on performance income deserve a careful look. Read the prospectus and decide on your own horizon.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_EAAA_India_Alternatives_IPO_open_and_close\"><\/span><strong>When does the EAAA India Alternatives IPO open and close?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bidding opens on Monday, 26 Oct 2026 and closes on Wednesday, 28 Oct. The anchor round is on 23 Oct, allotment is expected around 29 Oct and listing around 2 Nov on NSE and BSE.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_EAAA_India_Alternatives_IPO_price_band_and_lot_size\"><\/span><strong>What is the EAAA India Alternatives IPO price band and lot size?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The price band is Rs 1,585 to Rs 1,665 per share and the lot is 9 shares. The minimum investment is Rs 14,985 and the maximum retail bid of 117 shares costs Rs 1,94,805 at the upper band.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_EAAA_India_Alternatives_IPO_a_fresh_issue_or_an_offer_for_sale\"><\/span><strong>Is the EAAA India Alternatives IPO a fresh issue or an offer for sale?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is entirely an offer for sale of up to Rs 1,200 crore by Edelweiss Securities and Investments. The company does not receive any proceeds, which go to the selling shareholder.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_EAAA_India_Alternatives_IPO_GMP_today\"><\/span><strong>What is the EAAA India Alternatives IPO GMP today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> GMP IPO Watch showed a grey market premium of zero on 22 Oct and 23 Oct, implying a listing price at the upper band of Rs 1,665. GMP is unofficial and may change once bidding opens.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_EAAA_India_Alternatives_financials\"><\/span><strong>What are the EAAA India Alternatives financials?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> FY26 total income was Rs 963.8 crore and net profit was Rs 265.2 crore, with a return on equity of 25.97%. In the June 2026 quarter, revenue rose 44.4% to Rs 275.5 crore and profit rose 45% to Rs 80.7 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_EAAA_India_Alternatives_IPO_expensive\"><\/span><strong>Is the EAAA India Alternatives IPO expensive?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> At Rs 1,665 the price is about 40 times FY26 earnings per share and about 9.4 times June 2026 net asset value by my calculation. Profit growth slowed to 15% in FY26, so compare the multiple with growth and risks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_the_EAAA_India_Alternatives_IPO\"><\/span><strong>What are the risks of the EAAA India Alternatives IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Key risks include dependence on variable additional return, sensitivity of fees to market conditions, estimate-based valuation of illiquid assets, few listed peers and client commitments. Read the full risk section of the prospectus.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"When does the EAAA India Alternatives IPO open and close?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Bidding opens on Monday, 26 Oct 2026 and closes on Wednesday, 28 Oct. The anchor round is on 23 Oct, allotment is expected around 29 Oct and listing around 2 Nov on NSE and BSE.\"}},{\"@type\":\"Question\",\"name\":\"What is the EAAA India Alternatives IPO price band and lot size?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band is Rs 1,585 to Rs 1,665 per share and the lot is 9 shares. 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Profit growth slowed to 15% in FY26, so compare the multiple with growth and risks.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of the EAAA India Alternatives IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Key risks include dependence on variable additional return, sensitivity of fees to market conditions, estimate-based valuation of illiquid assets, few listed peers and client commitments. Read the full risk section of the prospectus.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EAAA India Alternatives IPO opens 26 Oct at Rs 1,585 to 1,665. Rs 1,200 crore offer for sale, GMP, dates, financials, valuation near 40x earnings and key risks.<\/p>\n","protected":false},"author":38,"featured_media":325214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[15212,2602,15213,15211,15207,15208,15210,15209,15215,15214],"class_list":["post-325215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-alternative-asset-manager-ipo","tag-eaaa-india-alternatives-ipo","tag-eaaa-ipo-allotment","tag-eaaa-ipo-date","tag-eaaa-ipo-gmp","tag-eaaa-ipo-price-band","tag-eaaa-ipo-review","tag-edelweiss-alternatives-ipo","tag-edelweiss-ipo","tag-upcoming-ipo-october-2026"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["325214"],"rank_math_title":["EAAA India Alternatives IPO: Price Band, GMP, Dates, Risks"],"rank_math_description":["EAAA India Alternatives IPO opens 26 Oct at Rs 1,585 to 1,665 per share. See the GMP, dates, financials, valuation, offer for sale details, anchor round and key risks."],"rank_math_focus_keyword":["EAAA India Alternatives IPO"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/eaaa-india-alternatives-ipo-to-open-on-26-oct-price-band-gmp-financials-and-key.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/325215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=325215"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/325215\/revisions"}],"predecessor-version":[{"id":325216,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/325215\/revisions\/325216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/325214"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=325215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=325215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=325215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}