DAM Capital's Stock Surges 47%: A Stellar Market Debut

Investment bank DAM Capital Advisors Ltd saw its shares soar by nearly 47% from the issue price. On its debut, the stock opened with a significant premium and achieved a market valuation of Rs 2,933.82 crore. The IPO was fully an offer for sale, with proceeds going to the selling shareholders.

DAM Capital Advisors Ltd witnessed an impressive stock market debut with a striking 47% rise from its issue price of Rs 283. Opening trades on the BSE at Rs 392.90, the stock momentum carried it to a peak of Rs 456.90 during the day, closing at Rs 415.05 apiece.

The IPO, offering purely an offer for sale format, was oversubscribed 81.88 times, reflecting strong investor interest. At the NSE, the shares also soared, listing at Rs 393, and closed at Rs 415.10 with substantial trading volumes.

The IPO's proceeds, totaling Rs 840.25 crore, will entirely benefit the selling shareholders, including a promoter and investors, as per the upper end of the prescribed price band.

(With inputs from agencies.)