DAM Capital Advisors Sets Stage for IPO Launch

DAM Capital Advisors, a leading investment bank, has set a price band for its initial public offering (IPO) from December 19-23. The offering will be for selling existing shares with no new issue. Proceeds will go to selling shareholders, and the market cap is estimated at Rs 2,000 crore.

DAM Capital Advisors announced Monday the price band for its upcoming initial public offering (IPO), set at Rs 269-283 per share. Public subscription will commence on December 19, following an anchor investor bidding session on December 18, with the IPO closing on December 23.

This IPO marks an offer-for-sale (OFS) of 2.97 crore equity shares, valued at Rs 840.25 crore, where existing stakeholders, including promoter Dharmesh Anil Mehta and several investors, will sell their holdings. Notably, all IPO proceeds will benefit the selling shareholders.

With CRISIL reports noting DAM's 38.77% revenue CAGR from 2022-2024, the company aims to enhance its market presence. Shares are slated for listing on December 27 on the BSE and NSE, with Nuvama Wealth Management as the sole merchant banker facilitating the process.

(With inputs from agencies.)