December 27, 2024
New Delhi, India
DAM Capital Advisors IPO
DAM Capital Advisors, a prominent investment banking firm, delivered a robust stock market debut on December 27, 2024, listing at a 39% premium over its IPO price.
Listing Highlights:
- BSE Listing Price: ₹392.90, marking a premium of ₹109.90 (38.83%).
- NSE Listing Price: ₹393, reflecting a 38.87% premium over the issue price of ₹283.
- Grey Market Expectations: The shares were trading at ₹426 in the grey market, indicating a 50.53% premium, which exceeded the actual listing price.
IPO Overview:
- Issue Price Band: ₹269-₹283 per share.
- Subscription Period: December 19-23, 2024.
- IPO Size: ₹840 crore.
- Oversubscription:
- Qualified Institutional Buyers (QIBs): 166.33 times.
- Non-Institutional Investors (NIIs): 98.62 times.
- Retail Investors: 27.13 times.
The IPO, comprising an Offer-for-Sale (OFS), saw significant demand, with bids for over 1.70 billion shares against the offer of 2.08 million shares.
Company Overview:
DAM Capital Advisors is a leading investment bank in India, offering:
- Equity Capital Markets (ECM) solutions.
- Mergers and Acquisitions (M&A) advisory.
- Private Equity (PE) and structured finance consulting.
- Institutional Equities services, including broking and research.
Key Objective:
The IPO’s proceeds from the OFS will go entirely to the selling shareholders after deducting expenses and applicable taxes. DAM Capital Advisors intends to use the listing to enhance visibility and bolster its reputation in the financial services industry.
Outlook:
While the shares fell short of grey market expectations, the strong debut underscores the company’s robust investor demand and market potential. Investors are advised to remain cautious and evaluate long-term growth opportunities in India’s evolving financial services sector.
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