DAM Capital Advisors Limited, a prominent investment bank in India, recently launched its Initial Public Offering (IPO), which garnered significant attention from investors. Below are the key details of the IPO:
IPO Details:
- Price Band: The shares were offered at a price range of ₹269 to ₹283 per share.
- Issue Size: The total issue size was ₹840.25 crore, conducted entirely through an Offer for Sale (OFS) of 2,96,90,900 equity shares.
- Lot Size: Investors could bid for a minimum of 53 shares and in multiples thereof.
Subscription Status:
The IPO received an overwhelming response, with an overall subscription of 81.88 times by the end of the bidding process. The breakdown is as follows:
- Qualified Institutional Buyers (QIBs): Subscribed 166.33 times.
- Non-Institutional Investors (NIIs): Subscribed 98.47 times.
- Retail Individual Investors (RIIs): Subscribed 26.80 times.
Grey Market Premium (GMP):
As of December 23, 2024, the unlisted shares of DAM Capital Advisors were trading at a premium of ₹160 in the grey market, indicating a potential listing price of ₹443 per share, which is approximately 55% above the upper end of the IPO price band.
Analyst Recommendations:
Market analysts have shown optimism regarding the IPO, citing the company’s strong position in India’s expanding capital markets. At the upper price band, the company is valued at a price-to-earnings (PE) ratio of 22.8 times for FY25, which is considered reasonable. Analysts recommend subscribing to the issue for long-term gains.
Key Dates:
- IPO Opening Date: December 19, 2024.
- IPO Closing Date: December 23, 2024.
- Allotment Date: Expected on December 24, 2024.
- Listing Date: Shares are scheduled to list on December 27, 2024, on both BSE and NSE.
About DAM Capital Advisors:
DAM Capital Advisors Limited is a leading investment bank in India, offering a comprehensive suite of financial solutions, including investment banking services such as equity capital markets, mergers and acquisitions, private equity, and structured finance advisory. The company has demonstrated rapid growth, with total income growing at a compound annual growth rate (CAGR) of 38.77% to ₹182 crore over FY22-FY24.
Conclusion:
The strong subscription numbers and substantial grey market premium reflect robust investor confidence in DAM Capital Advisors. The company’s strategic position in the financial sector and consistent growth make it a noteworthy consideration for investors seeking long-term opportunities in India’s capital markets.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making investment decisions.
