Gaja Alternative's shares debut on exchanges at 16% premium

Gaja Alternative, which operates under the Gaja Capital brand, shares made a strong debut on Wednesday, listing at ₹185 on NSE, a 15.63% premium over the ₹160 IPO price. On BSE, shares listed at ₹185.20, up 15.75%, beating the grey-market expectations of around 12%. The company’s ₹550-crore IPO was subscribed 31.33 times during its three-day bidding period from August 19-21.