Eaaa India Alternatives IPO

Strength: Scaled and experienced player in the large and expanding Indian real assets and private credit market.

Strength: Diversified, multi-vertical platform offering a wide range of alternative investments products, with a consistent track record.

Strength: Diverse and longstanding client base with significant potential to scale their commitments.

Strength: Technology-enabled institutional platform.

Strength: Dedicated asset operating and management platform.

Strength: Comprehensive risk management systems.

Risk: Variable Additional Return forms a large share of Total Income and its timing and receipt are unpredictable, contributing to cash flow volatility.

Risk: Revenue and profit depend on Management and Advisory Fees, GP Income and Variable Additional Return, any adverse factor affecting them may reduce income and profit.

Risk: The Company has experienced negative operating cash flows in the past.

Risk: No directly comparable Indian listed peers, which may affect investor perception and valuation.

Risk: Clients may not honour capital calls and there is concentration of clients; top 10 clients contributed 26.20% of FPAUM.

Risk: Dependence on distributors; more than 33.75% of funds raised from domestic investors in the three months ended June 30, 2026 were raised through distributors.

Risk: Private Credit vertical exposed to borrower defaults, stressed asset and real estate credit risks.

Risk: Real Assets and infrastructure investments exposed to geographic concentration, construction and regulatory risks.