DAM Capital Advisors IPO to Open on cember 19, Aiming to Raise ₹840.25 Crores
Price Band Set at ₹269-₹283; Minimum Investment of ₹14,999 for Retail Investors
Robust Financial Growth in FY2024 Sparks Optimism for Long-term Gains
BILKULONLINE
Ahmedabad, Dec 18: DAM Capital Advisors Ltd is set to launch its highly anticipated Initial Public Offering (IPO) on December 19, 2024. The IPO is expected to raise ₹840.25 crores, comprising a complete Offer-for-Sale (OFS) of 2.97 crore equity shares by existing shareholders. The price band for the issue has been fixed at ₹269-₹283 per share, with shares having a face value of ₹2 each.
Key Details of the IPO
Issue Type: Book Built Issue
IPO Open Date: December 19, 2024
IPO Close Date: December 23, 2024
Listing Date: December 27, 2024
Lot Size: Minimum of 53 shares (₹14,999), with retail investors allowed to apply for up to 13 lots (689 shares or ₹1,94,987).
Retail Quota: 35% | QIB: 50% | HNI: 15%
Market Listing: BSE and NSE
Promoters and Lead Managers
The company’s promoters include Dharmesh Anil Mehta, Sonali Dharmesh Mehta, and Boombucket Advisors Private Limited. The issue is being managed by Nuvama Wealth Management Limited.
Company Overview
DAM Capital Advisors Ltd is a prominent provider of investment banking solutions. Its services include:
Equity Capital Markets (ECM)
Mergers & Acquisitions (M&A)
Private Equity (PE) Advisory
Structured Finance Advisory
Institutional Equities, including broking and research
Financial Performance Highlights
DAM Capital Advisors has demonstrated robust growth in recent years:
Revenue: ₹180.04 crores in FY2024, up from ₹84.93 crores in FY2023
Profit: ₹70.52 crores in FY2024, a significant increase from ₹8.67 crores in FY2023
Although revenue dipped slightly from ₹933.68 million in March 2022 to ₹849.26 million in March 2023, the company has since rebounded strongly. Investors are optimistic about its long-term profitability.
IPO Objective
Since the IPO consists entirely of an Offer-for-Sale, the company will not receive proceeds from the issue.
Investor Outlook
Given DAM Capital Advisors’ impressive financial turnaround and growing prominence in the investment banking sector, market analysts recommend the IPO for long-term investment.
The allotment date for the IPO is scheduled for December 24, 2024, with trading set to commence on December 27, 2024. Retail and institutional investors can participate starting December 19, 2024.
