DAM Capital Advisors make robust debut

Shares of DAM Capital Advisors were currently trading at Rs 436.00 at 10:28 IST on the BSE, representing a premium of 54.06% as compared with the issue price of Rs 283.

The scrip was listed at Rs 392.90, exhibiting a premium of 38.83% to the issue price.

So far, the stock has hit a high of 456.90 and a low of 392.90. On the BSE, over 26.80 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of DAM Capital Advisors was subscribed 82.08 times. The issue opened for bidding on 19 December 2024 and closed on 23 December 2024. The price band of the IPO was fixed between Rs 269 and 283 per share.

The initial public offer (IPO) consisted only of an offer for sale (OFS) of 2.96 crore equity shares. The promoter, Dharmesh Anil Mehta, has offered 30.989 lakh equity shares for sale in OFS. Among other selling shareholders, Multiples Alternate Asset Management has offered to sell 87.144 lakh equity shares, Narotam Satyanarayan Sekhsaria 70.424 lakh equity shares, RBL Bank 57.710 lakh equity shares, and Easyaccess Financial Services 50.643 lakh equity shares.

The promoters shareholding in the company would decline to 41.5% post-IPO from 45.9% pre-IPO.

Ahead of the IPO, DAM Capital Advisors on Wednesday, 18 December 2024, raised Rs 251.48 crore from anchor investors. The board allotted 88.86 lakh shares at Rs 283 each to 33 anchor investors.

DAM Capital Advisors is a leading merchant banker providing a wide range of financial solutions in areas of (i) merchant banking comprising equity capital markets (ECM), mergers and acquisitions (M&A), private equity (PE), structured finance advisory, and (ii) institutional equities comprising broking and research. Merchant banks play a vital role in carrying out transactions that involve large institutions and huge funds.

The company commenced operations in the securities market in 1993 as S.S. Kantilal Ishwarlal Sharebrokers and Investors, which was acquired by IDFC in 2006 and became IDFC Securities. In 2019, IDFC Group divested its entire stake, which was acquired by Dharmesh Anil Mehta and other investors, and the name was changed to DAM Capital Advisors in July 2020.

The firm reported a consolidated net profit of Rs 43.78 crore and income from operations of Rs 107.75 crore for the six months ended on 30 June 2024.

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