Only alternatives platform in India to have a diversified suite of Yield & Income Solutions to domestic and global investors with Asset Under Management (“AUM”) of ₹ 953.45 bn

Leading brokerage firms Anand Rathi, Bajaj Broking, GEPL Capital and Ventura Securities have given their “Subscribe” recommendation to EAAA India Alternatives Limited, which is one of the leading alternative platforms in India, in terms of assets under management (AUM) with more than 17 years of experience (Source – CARE Report) of managing long term patient capital with an AUM of Rs 953,448.78 million or Rs 95,344.8 crore, as of June 30, 2026.

Anand Rathi highlights the company is an alternative investment management platform focussed on Indias real assets and private credit markets. On the valuation front, at the upper price band, the company is valued at a PE of 40.6 times FY26 and 33.2 times FY26 EV / EBITDA. Given its leadership position in India’s alternatives market, diversified investment platform, strong growth in FPAUM, robust profitability metrics and favourable industry outlook Anand Rathi recommends subscribe for Long Term to the issue.

GEPL Capital highlights the company’s wholly owned subsidiary, Sekura India Management, supports asset operations, maintenance, monitoring, and efficiency improvement. On the valuation front, based on FY26 earnings, the issue is priced at a PE of 33. GEPL recommends subscribe to the issue.

Bajaj Broking highlights the company is an alternative investment management platform focussed on Indias real assets and private credit markets. On the valuation front, the company is valued at a PE of 40 based on FY26 earnings. Bajaj Broking recommends subscribe to the issue.

Ventura Securities Ltd giving subscribe recommendation to the IPO highlights, EAAA India Alternatives has delivered healthy growth in recent years, supported by rising alternative investment allocations and expansion in its fee-paying asset base. Revenue from operations increased from INR 492.6 crore in FY24 to INR 670.3 crore in FY25 and INR 869.5 crore in FY26, while PAT increased from INR 175.2 crore to INR 229.8 crore and INR 265.2 crore, respectively. Total AUM increased from INR 54,679 crore in FY24 to INR 59,629 crore in FY25 and INR 72,706 crore in FY26, before rising further to INR 95,345 crore as of June 2026. In FY26, EBITDA excluding other income stood at INR 323.3 crore, translating into an EBITDA margin of 37.2%, while PAT margin stood at 30.5%, reflecting the asset-light and fee-driven nature of the business.

EAAA India Alternatives IPO is open for subscription and closes on October 28, 2026. The price band is kept at Rs 1585 per equity share to Rs 1665 per equity share, and the Investors can bid for a minimum of 9 Equity Shares and in multiples of 9 Equity Shares thereafter.