DAM Capital Advisors IPO Day 3 Live Updates: Key Highlights, Subscription Status, and Insights

DAM Capital Advisors IPO Day 2 Subscription Status 

(December 20, 2024, End of Day)

On the second day of bidding, the DAM Capital Advisors IPO was subscribed to 17.1 times the total number of shares offered. 

• Non-institutional investors (NIIs) subscribed 11.56 times their allotted portion. 
• While Retail investors subscribed 9.16 times the shares reserved for them. 
• Qualified institutional buyers (QIBs) had a subscription rate of 0.07 times. 
• The Employees' Category was oversubscribed 13.42 times.

DAM Capital Advisors 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 on December 19, 2024, and is closing today 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.

DAM Capital Advisors Business Overview

DAM Capital Advisors is a leading investment bank in India, holding a 12.1% market share in Fiscal 2024 based on the number of IPOs and QIPs managed as a book-running lead manager. The company offers a comprehensive range of financial services, including equity capital markets (ECM), M&A, private equity, structured finance advisory, institutional equities, broking, and research.

Focusing on India’s dynamic capital markets, DAM Capital leverages extensive sector expertise and an experienced team to deliver strategic advisory and capital market solutions to corporates, institutional investors, and family offices. Between November 7, 2019, and October 31, 2024, the firm executed 72 ECM transactions, including IPOs, QIPs, OFS, buybacks, and REIT IPOs, along with 23 advisory transactions in M&A, private equity, and structured finance. 

Its institutional equities division, comprising 63 professionals in research and broking, serves 263 active clients, including FPIs, across India, the USA, the UK, Europe, and Asia-Pacific regions.

DAM Capital Advisors Financial Highlights

• Revenue increased by 111.85% from Rs 84.92 crore in FY23 to Rs 180.4 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.