EAAA India Alternatives IPO sets Rs 1,585–1,665 price band

EAAA India Alternatives has set a price band of Rs 1,585–1,665 per share for its Rs 1,200-crore initial public offering, with subscriptions opening on October 26, 2026, and closing on October 28, according to Economic Times Markets.

The offer consists entirely of 72.07 lakh existing equity shares being sold by promoter shareholder Edelweiss Securities & Investments Pvt. Ltd. The proceeds will go to the selling shareholder, not to EAAA India Alternatives. It is therefore a shareholder stake sale rather than a fresh capital raise for the business.

Bid size, valuation and listing schedule

Investors can apply for a minimum of nine shares and in multiples of nine thereafter. At the upper end of the price band, a minimum retail application amounts to Rs 14,985. Each share has a face value of Rs 5.

Using diluted earnings per share for FY26, the offer carries a price-to-earnings multiple of 39.27 times at the floor price and 41.25 times at the cap price. The reported FY26 average for the industry peer group is 39.89 times, placing the lower end below that benchmark and the upper end above it.

The basis of allotment is expected to be finalised on October 29. Listing on the NSE and BSE is tentatively scheduled for November 2; these dates remain subject to the issue timetable.

FY26 income and profit increased

The company reported total income of Rs 964 crore for FY26, up 23% from Rs 787 crore in FY25. Profit after tax increased 15% to Rs 265 crore from Rs 230 crore over the same period.

Its weighted average return on net worth across FY24, FY25 and FY26 was 26.57%. For the quarter ended June 30, 2026, return on net worth was reported at 28.96% on an annualised basis, rather than as a completed full-year outcome.

Real assets and private credit business

Incorporated on May 14, 2008, EAAA India Alternatives manages alternative investments focused on India’s real assets and private credit markets. Its clients include domestic and overseas institutions, high-net-worth and ultra-high-net-worth investors, and family offices. It also offers portfolio management services and other investment solutions.

At June 30, 2026, assets under management stood at Rs 95,344.88 crore, of which fee-paying assets under management were Rs 48,623.18 crore. Its portfolio included 10 active Real Assets funds, including two Infrastructure Investment Trusts, and 16 active Private Credit funds.

The business is supported by wholly owned subsidiary Sekura India Management Ltd. and has 277 employees across investment, asset management, coverage, legal, compliance and other functions.

Axis Capital, Jefferies India, Motilal Oswal Investment Advisors and Nuvama Wealth Management are the book-running lead managers. MUFG Intime India is the registrar.