Gaja Alternative Asset Management Limited

• Investing towards our Sponsor Commitments to certain existing and new funds and for repayment of the Bridge Loan Amount₹372 Cr
• General corporate purposes₹44.2 Cr

Except as stated below, there are no outstanding (i) criminal proceedings, (ii) outstanding actions by regulatory authorities and statutory authorities, (iii) outstanding claims related to direct or indirect taxation matters, and (iv) litigation proceedings (including arbitration or other civil proceedings) that are otherwise material, in each case, involving the Company, Subsidiaries, Promoters and Directors. Further, except as disclosed below, there are no (a) disciplinary actions including penalty imposed by the SEBI or stock exchanges against the Promoters in the last five Fiscals, (b) criminal proceedings involving the Key Managerial Personnel and members of Senior Management, and (c) actions by regulatory authorities and statutory authorities involving the Key Managerial Personnel and members of Senior Management. Except as disclosed below, there are no outstanding legal proceedings involving any of the Group Companies that have a material impact on the Company.

• Our total income is dependent on the performance of the funds managed and advised by us. We derive a significant portion of our income from management fee that we receive in exchange for providing the funds managed and advised by us with management/advisory services. Poor performance of the funds managed and advised by us would cause a decline in our income from such funds and could therefore have a negative effect on our performance, cash flows and financial condition.(Revenue Concentration)

• Carried Interest and Income from Sponsor Commitment are contingent upon the successful realization of investment gains from a particular fund. The performance of the funds managed and advised by us may not necessarily result in positive returns. Additionally, there is a risk that the Management Fee and Carried Interest in the alternative asset management industry may decline, without regard to the historical performance of a manager.(Performance Contingency)

• Our Income from Sponsor Commitment was Nil in Fiscal 2025, primarily on account of a fair value loss. Such higher proportion of Sponsor Commitment has exposed us in past and continues to expose us to a higher risk of losing all or part of our investments across the funds managed and advised by us.(Investment Loss)

• The historical returns attributable to the funds managed and advised by us should not be considered as indicative of the future results of such funds or of our future results. The returns we may generate in the future may not be similar to what we may have generated historically and our future returns may be significantly lower than the historical returns.(Historical Performance)

• We commenced our initial investment management and advisory operations with a set of four investments made on a deal-by-deal basis between 2005 and 2007. As of March 31, 2026, all the Prior Investments have been fully realized with an MOIC of 5.61x. We cannot assure you that we would be successful in implementing our growth plans, as their successful implementation is subject to factors beyond our control.(Growth Execution)

• AIFs typically have a long-term investment horizon, with a minimum tenure typically of five years. The gestation period for returns and overall fund performance to materialize may be significantly prolonged. Accordingly, the funds managed and advised by us may require several years to fully realize their investment strategies, and returns may be limited or uncertain.(Liquidity)

• We may face a delay in realizing the expected return, which could cause a decline in the value of our investments in the Gaja Capital Funds.(Investment Realization)

• Our business could encounter challenges, including obtaining government or regulatory approvals, retaining relationships with third party investors (Limited Partners or LPs), and finding investment opportunities. Any of these challenges could adversely affect our business, financial condition, results of operations and prospects.(Operational)

Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

• Gaja Alternative Asset Management Limited - RHP18 Aug 2026