DAM Capital Advisors IPO Soars with 2.75 Times Subscription

DAM Capital Advisors Ltd's IPO got fully subscribed within hours and ended with a 2.75 times subscription. The IPO offered 2.97 crore equity shares via an offer for sale, with proceeds going to the selling shareholders. Retail and non-institutional investors showed strong interest.

The initial public offering (IPO) of DAM Capital Advisors Ltd was met with substantial investor interest, achieving full subscription within hours of opening and eventually culminating at a 2.75 times oversubscription, according to the National Stock Exchange (NSE) data.

Retail individual investors subscribed at 3.87 times, and the non-institutional investors' quota experienced a subscription rate of 3.72 times, while the segment designated for qualified institutional buyers saw minimal engagement with a mere 1 percent subscription.

The IPO, set in a price range of Rs 269-283 per share, is exclusively an offer for sale of 2.97 crore equity shares, aggregating Rs 840.25 crore at the upper price band. The promoters and select investors, including Dharmesh Anil Mehta and Multiples Alternate Asset Management, will receive all the proceeds.

(With inputs from agencies.)