DAM Capital Advisors IPO Fully Subscribed Within Hours of Launch

DAM Capital Advisors Ltd's Initial Public Offering was fully subscribed just hours after opening. The IPO, an Offer for Sale of 2.97 crore shares, attracted significant interest, being subscribed 1.71 times. The Rs 840.25 crore offering concluded on December 23 with no funds going to the company.

The initial public offering of DAM Capital Advisors Ltd saw a full subscription within hours of opening for bidding, showing strong market interest.

According to NSE data by 14:12 hours, bids were received for 3,56,70,484 shares against 2,08,04,632 available, marking a 1.71 times subscription rate.

Retail investors subscribed 2.61 times, while non-institutional investors subscribed 1.87 times.

DAM Capital raised Rs 251 crore from anchor investors prior to the IPO with shares priced between Rs 269-283 each, ending on December 23.

This IPO is an Offer For Sale worth Rs 840.25 crore by promoters and investors like Dharmesh Anil Mehta and RBL Bank, with no new equity being issued.

The funds from this OFS will directly benefit the selling shareholders.

The listing aims to benefit from stock exchange listings and enable share sales through the OFS, with Nuvama Wealth Management as the sole merchant banker.

The shares will be listed on BSE and NSE.

(With inputs from agencies.)