EAAA India Alternatives Ltd., a wholly-owned subsidiary of Edelweiss Financial Services Ltd., filed its preliminary papers with capital markets regulator SEBI on Thursday for an initial public offering. This development will set a precedent as an alternatives entity will get listed for the first time.
The public offer will only include an offer for sale of up to Rs 1,500 crore, according to the draft red herring prospectus.
Edelweiss Securities & Investments Pvt. Ltd. is the only promoter offloading shares in the OFS. The company will be listed on both the National Stock Exchange and the BSE, according to the draft red herring prospectus.
EAAA India Alternatives will not receive any proceeds from the IPO as it only includes an OFS.
Axis Capital Ltd., Jefferies India Pvt., Motilal Oswal Investment Advisors Ltd., and Nuvama Wealth Management Ltd. are the book-running lead managers for the issue and Link Intime India Pvt. Ltd. will be the registrar of the issue.
EAAA India Alternatives Business
EAAA India Alternatives is an alternative investment platform operating across Indian private debt and real assets. As of Sept. 30, 2024, the firm managed Rs 57,262 crore in assets under management. The platform operates a diversified approach, focusing on large, under-explored, and fast-growing alternative asset classes.
It offers a range of alternative investments products, primarily focused on income and yield sub-strategies, including performing credit, special situations, real estate credit, core credit, infrastructure yield, commercial real estate yield, perpetual capital, and energy transition.
Its business model revolves around providing income and yield solutions to global clients and domestic institutional investors. Over the past three fiscals and the six months ending Sept. 30, 2024, the company raised Rs 26,079 crore in capital commitments, deployed Rs 23,212 crore in investments, and realised Rs 22,977 crore in returns.
As of Sept. 30, 2024, the company's debt pile stood at Rs 404.89 crore.
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