The initial public offering of DAM Capital Advisors Ltd. is scheduled to open for subscription on Dec 19. Ahead of the much-awaited launch, the public issue garnered significant interest in the unlisted market. The grey market premium suggested a strong listing for the shares of the investment bank.
The DAM Capital Advisors IPO GMP stood at Rs 108 as per the last update at 8:00 a.m. on Dec. 18, indicating a possible listing gain of 38.16% over the issue price. According to InvestorGain, shares of DAM Capital Advisors Ltd. were likely to make market debut at Rs 391 in comparison to the IPO price band of Rs 269 to Rs 283 per share.
Notably, GMP or grey market price is not an official price quote for the stock and is based on speculation.
The application window for the Rs 840.25-crore public offer of DAM Capital Advisors Ltd. is set to open for subscription between Dec. 19 and Dec. 23. The allotment of shares is set to be finalised on Dec. 24. This will be followed by the credit of shares into the Demat account of successful bidders and initiation of refunds for the non-allottees in the IPO on Dec. 26.
Shares of the investment banking company are likely to make market debut on the NSE and BSE on Dec. 27.
DAM Capital Advisors IPO Price Band And Offer Size
DAM Capital Advisors IPO is a book-built issue consisting entirely of an offer for the sale of 2.97 crore shares worth Rs 840.25 crore. The company has set the issue price band in the range of Rs 269 to Rs 283 at the face value of Rs 2 per share. Retail investors can invest in the IPO with a minimum lot size of 53 shares totalling an investment of Rs 14,999.
Nuvama Wealth Management Ltd. has been appointed as the sole book-running lead manager for the issue, whereas Link Intime India Pvt. is its registrar.
Use Of Proceeds
Since DAM Capital Advisors IPO is an entire offer for sale, the net proceeds from the issue will go directly to the selling shareholders. Promoter Dharmesh Anil Mehta and four other investors, including Multiples Alternate Asset Management, Narotam Satyanarayan Sekhsaria, RBL Bank, and Easyaccess Financial Services, will offload their shares in the IPO.
About DAM Capital Advisors Ltd.
DAM Capital Advisors Ltd. is a SEBI registered stockbroker, catering only to institutional investors and HNIs. The company does not deal with retail investors. It offers a range of financial services, including private equity, merchant banking (equity capital markets, mergers and acquisitions, and structured finance advisory) and institutional equities (broking and research).
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.The DAM Capital Advisors IPO GMP stood at Rs 108 as per the last update at 8:00 a.m. on Dec. 18, indicating a possible listing gain of 38.16% over the issue price. Read MoreIPOs, Markets, Notifications
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