DAM Capital Advisors Limited IPO Day 2 Live Updates: Key Highlights, Subscription Status, and Insights
DAM Capital Advisors Limited, originally established in 1993 as S.S. Kantilal Ishwarlal Share Brokers and Investors Pvt. Ltd., was rebranded in 1994 as S.S. Kantilal Ishwarlal Securities Pvt. Ltd. (SSKIPL). In 2006, Infrastructure Development Finance Company (IDFC) began acquiring SSKIPL, completing the process in 2008. In 2019, IDFC sold its entire stake to Dharmesh Anil Mehta and other investors, leading to a rebranding of the company as DAM Capital Advisors Ltd. in July 2020. The company’s initial public offering (IPO) opened on December 19, 2024, and will close on December 23, 2024.
IPO Details
- DAM Capital Advisors has launched its IPO worth ₹840.25 crores through a book-built process. The issue is a complete offer for sale (OFS) involving 2.97 crore shares.
- The IPO subscription window opened today, December 19, 2024, and will close on December 23, 2024.
- The allotment of shares is expected to be finalised on December 24, 2024 (Tuesday).
- The IPO will be listed on BSE and NSE, with a tentative listing date set for December 27, 2024 (Friday).
- The price band for the IPO is ₹269 to ₹283 per share.
- Retail investors can apply for a minimum lot size of 53 shares, with an investment of ₹14,999. For sNII, the minimum application is 14 lots (742 shares), totalling ₹2,09,986, while for bNII, the minimum application is 67 lots (3,551 shares), amounting to ₹10,04,933.
- Nuvama Wealth Management Ltd. is the book-running lead manager for the IPO, and Link Intime India Pvt. Ltd. is the registrar.
Use of Proceeds
The company will not receive any proceeds from the offer, as it will all go to the Selling Shareholders because it is an OFS.
IPO Day 2 Subscription Status
(December 20, 2024, 12:52:00 PM)
On the second day of bidding, the DAM Capital Advisors IPO was oversubscribed 4.66 times the total shares offered. Non-institutional investors (NIIs) subscribed 6.69 times their allotted portion, while retail investors subscribed 6.41 times the shares reserved for them. Qualified institutional buyers (QIBs) had a subscription rate of 0.02 times, and the Employees' Category was oversubscribed 9.55 times.
IPO Day 1 Subscription Status
(December 19, 2024, End of Day)
By the first day of bidding, the DAM Capital Advisors IPO was oversubscribed 2.79 times the total shares offered. NIIs subscribed 3.74 times their allotted portion, while retail ivestors subscribed 3.95 times the shares reserved for them. The QIBs had a subscription rate of 0.01 times, and the Employees' Category was oversubscribed 6.28 times.
DAM Capital Advisors Business Overview
DAM Capital Advisors Limited is recognised as one of India's fastest-growing investment banks, achieving a remarkable 12.1% market share in initial public offerings (IPOs) and Qualified Institutional Placements (QIPs) for the fiscal year 2024. Established after the acquisition of IDFC Securities in 2019, the company provides a comprehensive range of services, including investment banking—covering equity capital markets, mergers and acquisitions (M&A), and private equity advisory—and institutional equities, which encompasses broking and research. With a dedicated team of 115 employees, many of whom possess over 18 years of experience, DAM Capital has successfully executed numerous transactions, including 67 equity capital market deals and 20 advisory projects since its inception. Furthermore, it operates internationally through its subsidiary, DAM Capital (USA) Inc., catering to US institutional investors, thereby expanding its global footprint and client base.
Financial Highlights
- Revenue increased by 114% from Rs 85.04 crore in FY23 to Rs 182 crore in FY24.
- Profit after tax (PAT) rose by 713% between the financial year ending March 31, 2023 and March 31, 2024, from Rs 8.67 to Rs 70.52 crore crore.
Key Ratios
|
Years |
FY24 |
|
ROE |
54.72% |
|
ROCE |
72.70% |
|
EBITDA Margin |
56.60% |
|
PAT Margin |
38.75% |
|
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