DAM Capital Advisors Files for IPO with Sebi

Investment bank DAM Capital Advisors has filed preliminary papers with Sebi for an IPO, which is solely an offer-for-sale of 3.2 crore shares. The proceeds will go to the selling shareholders. The company aims to list shares on stock exchanges while Mehta leads operations with a significant market share.

DAM Capital Advisors, a prominent investment bank, has submitted initial documents to the Securities and Exchange Board of India (Sebi) to launch its Initial Public Offering (IPO).

The IPO will solely consist of an offer-for-sale (OFS) of 3.2 crore equity shares, with no new shares being issued, as per the draft red herring prospectus (DRHP) filed on Tuesday.

The key stakeholders offloading their shares in this OFS include promoter Dharmesh Anil Mehta and investors such as Multiples Alternate Asset Management, RBL Bank, Easyaccess Financial Services, and Narotam Satyanarayan Sekhsaria.

Being an exclusively OFS issue, the total proceeds from the IPO will be directed to the selling shareholders. The move to go public aims to benefit from listing equity shares on stock exchanges and facilitate the sell-off for current shareholders.

DAM Capital Advisors offers comprehensive financial services in investment banking, including equity capital markets, mergers and acquisitions, private equity, structured finance advisory, and institutional equities encompassing broking and research.

Under the leadership of Mehta, the company has shown a revenue growth rate of 38.77% CAGR from FY 2022 to FY 2024. The bank holds a market share of 12.1% for IPOs and qualified institutional placements as the book running lead manager in fiscal 2024, based on a CRISIL report.

Nuvama Wealth Management is serving as the sole merchant banker for this IPO.

(With inputs from agencies.)