Gaza Alternative Asset Management IPO oversubscribed, shares settle above issue price

Gaza Alternative Asset Management’s initial public offering was met with massive investor response, achieving a subscription level of 31.33 times. The IPO, priced between INR 152 and INR 160, raised INR 550 crore, including a fresh issue of INR 450 crore and an OFS of INR 100 crore.

Even after a dip caused by profit‑booking, the shares closed at INR 168.67 on the NSE, staying 5.42% higher than the issue price. The proceeds will be directed towards clearing existing debt, establishing new investment funds, and financing routine corporate operations.