EAAA India Alternatives, the alternative asset management arm of the Edelweiss group, said it has received an approval from the Securities and Exchange Board of India (SEBI) for an initial public offering.
The public issue comprises an offer for sale of up to Rs 1,500 crore (around $159 million) by Edelweiss Securities and Investments. Edelweiss Securities is a wholly-owned subsidiary of the Edelweiss group.
The firm had filed a draft IPO prospectus with SEBI in January. This is EAAA India’s second attempt to list on bourses, after its first was stalled when SEBI made certain observations about its financial disclosures. VCCircle had reported its plan to revive the IPO in December.
According to the company draft prospectus, the revenue rose to Rs 670.2 crore in FY25 from Rs 493 crore a year ago. The net profit rose to nearly Rs 230 crore in the financial year ended March 2025 from Rs 175.1 crore a year ago.
The company posted a revenue of nearly Rs 414 crore, and a bottomline of Rs 125.1 crore in April-December.
EAAA operates two business verticals – private credit and real assets. The private credit vertical largely invests in debt or convertible debt instruments. So far, EAAA has made 181 investments in the private credit vertical, and fully exited around 110 of them.
The real asset vertical, which invests in a mix of equity, quasi equity and debt instruments, has generated only three full exits, while a total of 36 investments have been made.
