Fri Dec 20 04:24:10 UTC 2024: ## DAM Capital Advisors IPO Oversubscribed on Day 1
**Mumbai, India –** The initial public offering (IPO) of DAM Capital Advisors, an investment banking firm, opened today and was fully subscribed within hours. By 1:20 PM, the IPO had received 1.36 times oversubscription, with bids for 281,98,279 shares against the offering of 2,08,04,632 shares. Retail investors showed strong interest, with 2.10 times oversubscription in their category. Employee bids were 2.92 times oversubscribed, and non-institutional investors showed 1.41 times oversubscription. Qualified institutional investor (QII) participation was yet to be finalized by the close of the day.
The IPO, priced between ₹269 and ₹283 per share, will run until December 23rd. It involves an offer for sale (OFS) of 2.97 crore equity shares worth ₹840.25 crore. No new shares are being issued by the company; all proceeds will go to existing shareholders, including promoters, investors like Multiples Alternate Asset Management, RBL Bank, and EGAxes Financial Services. At the upper price band, DAM Capital’s market capitalization is estimated at ₹2,000 crore.
Market expert Anil Singhvi has recommended the IPO for long-term investment, predicting potential doubling of the share price within 2-3 years, citing the company’s experienced promoters, strong financial track record, diversified business model, healthy cash flow, and debt-free status as positives. However, he also acknowledged potential risks, including reliance on capital market performance and the OFS structure.
First Piper 