Gaja Capital Raises ₹125 Crore in Pre-IPO Round; Set to Become India’s First Listed Private Equity Firm

Gaja Capital has raised ₹125 crore in a pre-initial public offering (pre-IPO) round from a group of long-term institutional investors, including

, , Enam Group, and veteran investor Jagdish Master. The round values the private equity (PE) firm at ₹1,625 crore, positioning it to become India’s first publicly listed standalone private equity firm. Details: According to sources familiar with the development, the funds will be deployed to seed upcoming investment vehicles, strengthen distribution capabilities, and pursue new strategies within the alternative asset management space. This pre IPO capital raise marks a significant milestone in Gaja Capital’s evolution and reflects the growing appetite among institutional investors for exposure to India’s maturing private equity landscape. The planned IPO is expected to provide liquidity to existing stakeholders while enhancing transparency and corporate governance in a sector historically dominated by privately held entities. Upon listing, Gaja Capital would become the first independent private equity firm in India to debut on the stock exchanges—potentially paving the way for other domestic players in the alternatives space to follow suit.