DAM Capital Advisors Raises Rs 251 Crore from Anchor Investors Ahead of IPO

DAM Capital Advisors has secured Rs 251 crore from anchor investors before its IPO opens. The share-sale is an offer-for-sale worth Rs 840.25 crore. Promoter Dharmesh Anil Mehta and investors are selling shares. Market capitalisation is pegged at Rs 2,000 crore.

DAM Capital Advisors announced on Wednesday that it has successfully raised Rs 251 crore from key anchor investors, just ahead of its initial public offering set to open for public subscription. Prominent investors such as Nomura and Goldman Sachs participated in this significant pre-IPO fundraising effort.

The investment bank has allotted 88.86 lakh shares to 33 funds at Rs 283 each, marking the higher end of its price range. The IPO, scheduled for December 19 to 23, aims to sell 2.97 crore equity shares in an offer-for-sale valued at Rs 840.25 crore, with the proceeds going to the selling shareholders.

The equity listing aims to enhance market visibility and provide liquidity for the selling shareholders. DAM Capital Advisors, led by Dharmesh Anil Mehta, boasts a market share of 12.1% in IPO and placements, and is managed by Nuvama Wealth Management for this issue. The shares will be listed on BSE and NSE on December 27.

(With inputs from agencies.)