DAM Capital Advisors IPO: Triumph of Subscription

DAM Capital Advisors Ltd's IPO was massively oversubscribed, 81.88 times on its last bidding day. Institutional buyers showed significant interest with the share sale being fully booked shortly after launching. The IPO is an offer for sale entirely, where proceeds benefit the selling shareholder.

The initial public offering (IPO) of DAM Capital Advisors Ltd saw an overwhelming response, being subscribed 81.88 times by the close of bidding on Monday.

According to NSE data, the initials share sale attracted bids for 1,70,35,38,349 shares against the issued 2,08,04,632 shares, highlighting huge demand.

Qualified institutional buyers showed immense interest, subscribing to their portion 166.33 times, while non-institutional investors bid 98.47 times and retail investors 26.80 times. DAM Capital raised Rs 251 crore from anchor investors, and all IPO proceeds will go to the selling shareholder as it's an offer for sale.

(With inputs from agencies.)