DAM Capital shares list at 39% premium; fall short of IPO GMP forecasts

DAM Capital Advisors IPO listing: DAM Capital Advisors shares listed at Rs 392.90 apiece on the BSE, and Rs 393 apiece on the NSE against the issue price of Rs 283

DAM Capital Advisors IPO listing today: Shares of investment bank DAM Capital Advisors made a bumper debut on the bourses on Friday, December 27, 2024, following the completion of its IPO rounds. DAM Capital Advisors shares listed at Rs 392.90 apiece on the BSE, reflecting a premium of Rs 109.90 or 38.83 per cent against the issue price of Rs 283.

 

On  the National Stock Exchange (NSE), DAM Capital Advisors shares listed at Rs 393 apiece, showing a slightly higher premium of Rs 110 or 38.87 per cent against the issue price. With the IPO listing, investors who were allotted the company's shares made a profit of around Rs 110 per share or over 38 per cent. 

 

  However, DAM Capital Advisors IPO listing was slightly below grey market expectations, as the company’s shares were trading at Rs 426 in the grey market, reflecting a premium of Rs 143 or 50.53 per cent over the IPO's upper price band of Rs 283.  Those who took part in the initial public offering (IPO), as per Shivani Nyati, head of wealth at Swastika Investmart, may book partial profit and choose to hold onto their shares while keeping a careful eye on the company's performance and the state of the market, as well as maintaining a stop loss at Rs 390. 

 

DAM Capital Advisors IPO details

DAM Capital Advisors IPO was available in a price band of Rs 269-283 per share, with a lot size of 53 shares. The public offering was open for subscription from Thursday, December 19, 2024, to Monday, December 23, 2024.

 

By the end of the subscription period, the Rs 840 crore offering of DAM Capital Advisors received bids for 1,70,76,86,129 shares against the 2,08,04,632 shares on offer, resulting in an oversubscription of 82.08 times, according to NSE data. Qualified Institutional Buyers (QIBs) placed the highest bids, oversubscribing their reserved quota by 166.33 times, followed by Non-Institutional Investors (NIIs) at 98.62 times and Retail Individual Investors (RIIs) at 27.13 times.

 

The basis of share allotment was finalised on Tuesday, December 24, 2024.

 

In its Red Herring Prospectus, DAM Capital Advisors stated that it would not receive any proceeds from the offer-for-sale by the selling shareholders. The selling shareholders will receive their respective portions of the proceeds after deducting their share of offer-related expenses and applicable taxes. 

About DAM Capital Advisors

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