EAAA India Alternatives, a private credit and real asset fund manager headquartered in Mumbai, is looking to raise Rs 1,200 crore ($127 million) through an initial public offering (IPO).
The company has filed its red herring prospectus (RHP) for the issue, which will comprise entirely an offer for sale (OFS) by its promoter entity, Edelweiss Securities and Investments. The company will not receive any proceeds from the issue. It is targeting a valuation of about Rs 10,765 crore.
The issue size has been cut from the earlier planned Rs 1,500 crore.
EAAA India Alternatives has 10 active funds, including two infrastructure investment trusts, besides 16 active private credit funds. It is said to have an AUM of over Rs 95,344.8 crore. Its IPO will open for subscription for two days starting October 26.
EAAA India Alternatives’ IPO comes amid growing interest among investment firms in India in tapping the public markets. Earlier this year, Gaja Capital went public, while Nisus Finance Services made its market debut in 2024.
The merchant bankers for the issue are Axis Capital, Jefferies India, Motilal Oswal Investment Advisors and Nuvama Wealth Management.
