Mutual funds got 65% of EAAA India Alternatives IPO anchor book: Which schemes will own shares of the Edelweiss company?
Edelweiss Group company EAAA India Alternatives’ IPO will open for subscription from October 26 to 28, 2026, allowing investors to bid for shares of the alternative investment company. However, before an IPO opens for public subscription, companies complete the anchor book allocation process.
According to the basis of allotment dated October 23, 2026, EAAA India Alternatives allotted around 21.62 lakh equity shares to anchor investors at ₹1,665 per share. Of these, 14.14 lakh shares (65.42% of the total anchor allocation) went to 13 schemes managed by 10 domestic mutual funds.
The IPO has a total offer size of ₹1,200 crore, consisting entirely of an Offer for Sale (OFS), with a price band of ₹1,585 to ₹1,665 per share.
Under the SEBI rules, up to 33.33% of the anchor investor portion is reserved for domestic mutual funds. This means that the mutual fund allocation in this IPO exceeded the specified limit.
However, EAAA India Alternatives should not be confused with Edelweiss Mutual Fund. According to its red herring prospectus (RHP), EAAA Alternatives and Edelweiss AMC are “fellow subsidiaries” under their ultimate holding company, Edelweiss Financial Services.
Here are the details of the mutual fund schemes that received the allocations in this IPO anchor book.
Which mutual funds received allocations in the EAAA India Alternatives IPO?
| Mutual Fund Scheme | No. of equity shares | Shares allocated as % of anchor investor portion | Total amount allocated ( ₹ crore) |
| SBI Midcap Fund | 228,231 | 10.56% | 38.00 |
| ICICI Prudential Smallcap Fund | 228,231 | 10.56% | 38.00 |
| HDFC Flexi Cap Fund | 190,188 | 8.80% | 31.67 |
| Nippon India Banking & Financial Services Fund | 114,111 | 5.28% | 18.99 |
| Nippon India Small Cap Fund | 114,120 | 5.28% | 19.00 |
| Bandhan Innovation Fund | 96,102 | 4.44% | 16.00 |
| HSBC Flexi Cap Fund | 96,102 | 4.44% | 16.00 |
| Abakkus Small Cap Fund | 96,102 | 4.44% | 16.00 |
| Kotak Mahindra Infinity Hybrid Long-Short Fund | 93,096 | 4.31% | 15.50 |
| DynasIF Equity Ex-Top 100 Long Short Fund | 60,066 | 2.78% | 10.00 |
| HDFC Large and Mid Cap Fund | 38,043 | 1.76% | 6.33 |
| Kotak Services Fund | 30,033 | 1.39% | 5.00 |
| TRUSTMF Multi Cap Fund | 30,033 | 1.39% | 5.00 |
*Source: EAAA India Alternatives IPO Anchor Allocation Report; Total 13 mutual funds/ SIFs; Anchor investor allocation price is ₹1,665; Issue price band of the IPO is ₹1,585 – ₹1,665.
Of the 13 schemes, 11 are mutual fund schemes, including active equity and sectoral funds, while two are specialised investment funds (SIFs).
SBI Midcap Fund received the highest allocation, with 2,28,231 shares worth approximately ₹38 crore, accounting for 10.56% of the anchor investor portion. ICICI Prudential Smallcap Fund received the same number of shares.
The two SIFs are Kotak Infinity Hybrid Long-Short Fund and DynasIF Equity Ex-Top 100 Long Short Fund.
Schemes receiving the allotment will hold EAAA India Alternatives shares in their portfolios on the listing day, which is proposed to be November 2, 2026.
Under the anchor investor lock-in rules, 50% of the allotted anchor shares are locked in for 30 days from the allotment date, while the remaining 50% are locked in for 90 days. During the respective lock-in periods, the shares cannot be sold or transferred to another scheme.
After the lock-in expires, fund managers of active schemes can decide whether to retain, sell, or add to their holdings. They may also purchase additional shares from the listing day.
What does EAAA India Alternatives do?
According to its RHP, EAAA India Alternatives is one of India’s leading alternative investment platforms, incorporated in May 2008. Its assets under management stood around ₹95,345 crore as of June 30, 2026.
Its managed funds have 11,009 client relationships across India and overseas, including institutional investors, ultra-high-net-worth individuals (UHNIs), high-net-worth individuals (HNIs) and family offices.
Its key business verticals are real assets and private credit. The real assets vertical had eight active funds and two InvITs, while the private credit vertical manages 16 active funds. The company also offers portfolio management services (PMS) and other services.
For mutual fund investors, the allotment provides indirect exposure to EAAA India Alternatives through the schemes they hold. However, whether a scheme retains or sells the shares after listing will depend on its fund manager’s investment decisions and the scheme’s mandate.
Disclaimer: This is purely for educational/informational purposes and should not be taken as any sort of investment advice. Always consult a SEBI-registered advisor before making any investment decisions.
