September 4, 2024
New Delhi, India
DAM Capital Advisors Limited, one of India’s leading investment banks, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an upcoming initial public offering (IPO). The firm plans to sell up to 3,20,64,010 equity shares through an offer-for-sale (OFS) by its promoters and existing shareholders.
Key Highlights:
- IPO Details:
- The IPO will consist entirely of an OFS, where promoter Dharmesh Anil Mehta aims to offload up to 42,41,160 equity shares. Other major shareholders participating in the OFS include Multiples Alternate Asset Management (up to 88,00,000 shares), Narotam Satyanarayan Sekhsaria (up to 70,68,600 shares), RBL Bank (up to 68,31,000 shares), and Easyaccess Financial Services (up to 51,23,250 shares).
- Strong Market Position:
- DAM Capital Advisors holds a 12.1% market share in IPOs and Qualified Institutional Placements (QIPs) in FY24, making it one of the prominent investment banks in India. It has the highest profit margin among its peers for fiscal 2024.
- Fastest Growing Investment Bank:
- The company is recognized as the fastest-growing investment bank in India by revenue Compound Annual Growth Rate (CAGR) from FY22 to FY24.
Also Read: Nvidia Shares Drop 9.5%, Wiping Out $279 Billion in Market Cap
Company Overview:
- Wide Range of Financial Solutions:
- DAM Capital provides a diverse suite of financial solutions, including investment banking (equity capital markets, mergers and acquisitions, private equity, and structured finance advisory) and institutional equities (broking and research).
- History and Team:
- Formerly known as IDFC Securities, DAM Capital was acquired by Dharmesh Anil Mehta and others after IDFC divested its stake. It rebranded to DAM Capital Advisors in July 2020 and currently operates with a team of 115 employees, experienced in executing transactions across various sectors.
Also Read: ECOS Mobility IPO Debut: Shares List at 17% Premium on NSE and BSE
Financial Performance:
- FY24 Financials:
- DAM Capital reported a total income of ₹182 crore with a net profit of ₹70.52 crore in FY24. In comparison, its revenue in FY23 was ₹85.04 crore with a net profit of ₹8.67 crore, and for FY22, revenue stood at ₹94.51 crore with a bottom line of ₹21.9 crore.
IPO Lead Manager and Listing Details:
- Lead Manager and Registrar:
- Nuvama Wealth Management is the sole book-running lead manager for the IPO, and Link Intime India has been appointed as the registrar to the issue.
- Listing on Stock Exchanges:
- Shares of DAM Capital Advisors will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
