DAM Capital Advisors IPO Receives Overwhelming Response on Day Two

DAM Capital Advisors Ltd's IPO achieved a 6.98 times subscription by the second day. The offer, entirely an offer for sale of equity, is expected to gather Rs 840.25 crore. The IPO closes on December 23 with securities to be listed on BSE and NSE.

The initial public offering (IPO) of DAM Capital Advisors Ltd witnessed significant investor interest, recording a 6.98 times subscription by the second day of its share sale on Friday. According to NSE data, the IPO attracted bids for 14.5 crore shares against the 2.08 crore shares available.

The offer saw notable enthusiasm from Non-Institutional Investors, garnering 11.49 times subscription. Retail Individual Investors too showed strong participation with an 8.96 times subscription, while Qualified Institutional Buyers contributed to 7% of the subscriptions.

The public issue, purely an offer for sale, is poised to raise Rs 840.25 crore at the upper range of the price band, priced between Rs 269 and Rs 283 per share. The IPO, which opened on Thursday, will close on December 23, and is listed on both BSE and NSE.

(With inputs from agencies.)