Mon Dec 23 13:51:51 UTC 2024: ## DAM Capital Advisors IPO Oversubscribed 81 Times, Strong Grey Market Premium Signals Positive Listing

**Mumbai, December 23, 2023** – The initial public offering (IPO) of DAM Capital Advisors, a domestic investment bank, closed today significantly oversubscribed, exceeding expectations. The Rs 840.25 crore IPO garnered bids for 170,35,38,190 shares, a staggering 81.88 times oversubscription against the 2,08,04,632 shares on offer.

Strong demand was seen across all investor categories: retail investors subscribed 26.8 times, non-institutional investors (NII) 98.47 times, and qualified institutional buyers (QIB) a massive 166.33 times. The IPO’s price band was set at Rs 269 to Rs 283 per share.

The grey market is reflecting bullish sentiment, with unlisted shares trading at Rs 443, a premium of Rs 160 (56.54%) over the upper price band. This suggests a potentially strong listing on December 27th.

Analysts largely recommend subscribing to the IPO, though opinions diverge on the holding period. Mehta Equities highlighted DAM Capital’s market leadership in IPOs and QIPs, along with strong financial performance, recommending subscription for listing gains. Choice and Bajaj Broking also gave positive ratings, but advised a long-term hold, acknowledging the high valuation and potential risks associated with market volatility and competition.

The IPO consists entirely of an offer for sale of 2.97 crore shares. Minimum investment amounts are Rs 14,999 for retail investors, Rs 2,09,986 for small NIIs, and Rs 10,04,933 for large NIIs. Nuvama Wealth Management Limited acted as the book running lead manager, and Link Intime India Private Ltd is the registrar. The shares are expected to list on the BSE and NSE on December 27th.

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