DAM Capital Advisors Limited IPO Day 1 Live Updates: Key Highlights, Subscription Status, and Insights
DAM Capital Advisors Limited began its journey in the securities market in 1993 as S.S. Kantilal Ishwarlal Share Brokers and Investors Pvt. Ltd. It 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 acquisition in 2008. In 2019, IDFC sold its entire stake to Dharmesh Anil Mehta and other investors. The company rebranded as DAM Capital Advisors Ltd. in July 2020.
The company’s initial public offering (IPO) commenced today, December 19, 2024, and will remain open until December 23, 2024.
IPO Day 1 Subscription Status
(December 19, 2024, End of the Day)
On the first day of bidding for the DAM Capital Advisors IPO, the total subscription reached 2.78 times the total shares offered.
- Non-Institutional Investors (NIIs) subscribed 3.73 times their allocated portion.
- While Retail Investors subscribed to 3.93 times the shares reserved for them.
- Qualified Institutional Buyers (QIBs) subscription rate is 0.01 times.
- Employees' Category subscription rate is 6.26 times.
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 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 finalized 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 these will go to the Selling Shareholders because it is an offer for sale issue.
DAM Capital Advisors Business Overview
DAM Capital Advisors Limited is a leading investment bank in India, offering a broad range of financial services, including:
- Investment Banking – covering equity capital markets (ECM), mergers and acquisitions (M&A), private equity (PE), and structured finance advisory;
- Institutional Equities – including broking and research services.
Since its acquisition on November 7, 2019, the company has successfully completed 72 ECM transactions, which include 27 IPOs, 16 qualified institutional placements, 6 offers for sale, 6 preferential issues, 4 rights issues, 8 buybacks, 4 open offers, and 1 initial public offering of units by a real estate investment trust (as of October 31, 2024).
Additionally, DAM Capital Advisors has provided advisory services for 23 M&A, private equity, and structured finance transactions, and has executed several block trades since the acquisition.
The company serves 263 active clients, including registered FPIs, across a global footprint that includes India, the USA, the UK, Europe, Hong Kong, Singapore, Australia, Taiwan, South Korea, the Middle East, and South Africa.
DAM Capital Advisors also operates a wholly-owned subsidiary, DAM Capital (USA) Inc., which is based in New York and registered as a Broker-Dealer with the Securities and Exchange Commission.
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, 2024 and March 31, 2023, from Rs. 8.67 to Rs. 70.52 crore crore.
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