EAAA India Alternatives, an arm of Edelweiss Financial Services, has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 1,500 crore through an initial public offering (IPO).

The proposed issue will be entirely an offer-for-sale (OFS) by Edelweiss Group. As a result, the company will not receive any proceeds from the IPO, with the entire amount going to the selling shareholder. Axis Capital, Jefferies India, Motilal Oswal Investment Advisors and Nuvama Wealth Management are the book-running lead managers to the issue. The shares of the company are proposed to be listed on BSE and NSE.

EAAA India Alternatives is among India's leading alternatives platforms, with many years of experience in managing long-term, patient capital. It operates a diversified, multi-strategy platform across large, under-penetrated and fast-growing alternative asset classes, with a focus on delivering income and yield solutions to clients.