Gaja Alternative Asset Management IPO Day 3: Issue subscribed nearly 2.5 times; GMP at 11%. Should you subscribe?

Gaja Alternative Asset Management IPO entered its final bidding day with the issue subscribed 2.44 times on Day 2 and the grey market premium at 11%. With the company reporting strong FY26 profit growth and Anand Rathi Research recommending a “Subscribe – Long Term” rating, investors are weighing the IPO’s growth prospects against valuation and earnings concentration risks.