Thu Dec 19 20:54:42 UTC 2024: ## DAM Capital Advisors IPO Opens Thursday, Offers Rs 840 Crore in Sale

**Mumbai, India – December 18, 2023** – DAM Capital Advisors Ltd., a leading Indian merchant bank, is set to launch its initial public offering (IPO) on Thursday, December 20th. The IPO, entirely an offer for sale (OFS), will see existing shareholders offloading shares worth Rs 840.25 crore. The price band has been set at Rs 269 to Rs 283 per share, with a potential market capitalization of Rs 2,000 crore at the upper end.

The OFS will see significant share sales by several key shareholders, including Dharmesh Anil Mehta (42.41 lakh shares), Multiples Alternate Asset Management Pvt. (88 lakh shares), Narotam Satyanarayan Sekhsaria (70.69 lakh shares), RBL Bank Ltd. (68.31 lakh shares), and Easyaccess Financial Services Ltd. (51.24 lakh shares).

Nuvama Wealth Management Ltd. is the book-running lead manager, and Link Intime India Pvt. is the registrar. The IPO will close on December 23rd, with the anchor investment round scheduled for December 18th. A minimum investment of 53 shares is required.

DAM Capital, boasting a 12.1% market share in Indian merchant banking (based on Crisil data), offers a range of financial services including equity capital markets, M&A advisory, private equity, structured finance, broking, and research. The company serves 263 active clients globally. In the last fiscal year, DAM Capital reported a sixfold increase in net profit to Rs 70.52 crore and an 11% revenue increase to Rs 478 crore. The company plans to use the IPO proceeds to strengthen its operations and explore strategic partnerships.

While the company highlights its strong financial performance, the prospectus also outlines several risks, including dependence on IT systems, margin requirements, and potential errors in research and advice.

The grey market premium (GMP) is currently estimated at Rs 108, suggesting a potential listing price of Rs 391, a 38.16% premium to the upper end of the price band. Investors are cautioned that GMP is speculative and not an official price indicator. Potential investors are advised to consult with financial advisors and thoroughly review the red herring prospectus before investing.

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