DAM Capital Advisors IPO crosses halfway mark; Check latest GMP, review

DAM Capital Advisors IPO: The initial public offering (IPO) of investment banking services provider DAM Capital Advisors, which opened for public subscription today, has received an enthusiastic response from investors, crossing the halfway mark in less than two hours of opening.

 

DAM Capital Advisors IPO subscription status

The DAM Capital Advisors IPO has received bids for 1,12,92,127 shares against 2,08,04,632 on offer, resulting in a subscription of 0.54 times as of around 11:20 AM on Thursday, December 19. 

 

The public offering, as per data available on the National Stock Exchange (NSE), has so far received the highest demand from retail investors, who have subscribed to 0.88 times their reserved category, followed by Non-Institutional Investors (NIIs) at 0.28 times. Meanwhile, the quota reserved for Qualified Institutional Buyers (QIBs) has not received any bids so far.

 

The employee quota, on the other hand, has been oversubscribed by 1.28 times.   

 

DAM Capital Advisors IPO grey market premium (GMP) today

Meanwhile, the unlisted shares of DAM Capital Advisors continue to command a strong premium in the grey market on Thursday, December 19, 2024. Sources tracking unofficial markets revealed that DAM Capital Advisors’ unlisted shares were trading at Rs 431 apiece, reflecting a grey market premium (GMP) of Rs 148, or 52.3 per cent against the upper end of the IPO price of Rs 283.

 

DAM Capital Advisors IPO details

The Rs 840.25 crore offering of DAM Capital Advisors comprises an entirely offer-for-sale of 2,96,90,900 equity shares with a face value of Rs 2 apiece. The IPO is available at a price band of Rs 269-283 per share, and the lot size is 53 shares. Accordingly, investors can bid for a minimum of 53 shares and in multiples thereof.

 

A retail investor would require a minimum of Rs 14,999 to bid for one lot or 53 shares of DAM Capital Advisors, while Rs 1,94,987 is required to bid for a maximum of 134 lots or 689 shares.

 

Link Intime India is the registrar for DAM Capital Advisors IPO, while Nuvama Wealth Management is the sole book-running lead manager of the public issue.

 

DAM Capital Advisors IPO allotment, listing schedule

The DAM Capital Advisors IPO will remain open for public subscription until Monday, December 23, 2024.

 

After the closure of the subscription window, the basis of allotment of DAM Capital Advisors IPO shares is tentatively scheduled to be finalized on Tuesday, December 24, 2024. Subsequently, successful allottees will receive the company’s shares in their demat accounts by Thursday, December 26, 2024.

 

Shares of DAM Capital Advisors are expected to list on the BSE and NSE tentatively on Friday, December 27, 2024.

 

DAM Capital advisors IPO review

The company has received reviews from brokerages, including SBI Securities and Bajaj Broking. Market analysts have recommended that investors subscribe to the public issue with a long-term perspective. READ MORE

 

About DAM Capital Advisors 

DAM Capital Advisors (DAM Capital) is an investment bank in India. The company offers a wide range of financial solutions, including investment banking services such as equity capital markets, mergers and acquisitions (M&A), private equity (PE), and structured finance advisory. It also provides institutional equities services, including broking and research.