NE BUSINESS BUREAU
CHENNAI, AHMEDABAD, DEC 17
DAM Capital Advisors Limited, a fast-growing investment bank, on Tuesday announced its ₹840 crore initial public offering (IPO), priced in the range of ₹269-283 a share, will remain open for subscription from Thursday to Monday, December 19-23, and investors can bid for a minimum of 53 shares and and in multiples of 53 equity shares thereafter. The bidding for anchor book will be held on Wednesday, December 18.
The IPO is entirely through an offer for sale of up to 2.97 crore shares with up to 87 lakh shares being sold by Multiples Alternate Asset Management, up to 70 lakh shares by Narotam Satyanarayan Sekhsaria, up to 57.7 lakh shares by RBL Bank and other shareholders such as Easyaccess Financial Services and Dharmesh Anil Mehta. This means the company itself will not receive any funds from the IPO proceeds.
- Anchor Investor Bidding Date – Wednesday, December 18, 2024
- Bid /Offer Opening Date – Thursday, December 19, 2024, and Bid/ Offer Closing Date – Monday, December 23, 2024
- Bids can be made for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter
Dam Capital’s revenue has increased over 38 per cent annually from FY22 to FY24. It offers a range of services such as equity capital market, mergers and acquisitions, private equity and structure finance advisory.
It had over 12 per cent market share in IPOs and QIPs last fiscal year. Since inception it has executed 67 equity capital markets transactions and 20 advisory transactions.
The company successfully executed 72 ECM transactions, including 27 IPOs, 16 QIPs, 6 offers for sale (OFS), 6 preferential issues, 4 rights issues, 8 buybacks, 4 open offers, and 1 REIT IPO.
It also advised on 23 transactions, covering M&A, private equity, and structured finance advisory, and executed block trades. The company currently serves 263 active clients, including registered Foreign Portfolio Investors (FPIs), across key geographies such as India, the USA, the UK, Europe, Hong Kong, Singapore, Australia, Taiwan, South Korea, the Middle East, and South Africa.
The company has posted impressive growth over the past few years, with total income reaching ₹182 crore in FY24 from ₹94.51 crore in FY22, representing a compound annual growth rate (CAGR) of 38.77% during the same period. Profit after tax (PAT) also saw a remarkable increase to ₹70.52 crore, reflecting a strong CAGR of 79.46% between FY22 and FY24.
Promoter Dharmesh Mehta along with his wife and firm Boombucket Advisors hold 45.9 per cent stake in the company.
Overall, 50% of the DAM Capital IPO is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 35% for retail investors.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
Nuvama Wealth Management Limited is the sole book running lead to the Offer.
