Mon Dec 23 20:06:46 UTC 2024: ## DAM Capital Advisors IPO Oversubscribed by 81.88x on Final Day

**Mumbai, December 23, 2024** – The initial public offering (IPO) of DAM Capital Advisors Ltd., a leading merchant bank in India, concluded today with overwhelming investor response. The ₹840.25 crore IPO, entirely an offer for sale (OFS) of 2.97 crore shares, was oversubscribed a staggering 81.88 times by the close of bidding.

The IPO, priced between ₹269 and ₹283 per share, saw exceptionally strong demand across all investor categories. Qualified Institutional Buyers (QIBs) alone oversubscribed their portion by 166.33 times, while Non-Institutional Investors (NIIs) subscribed 98.47 times, and retail investors 26.80 times.

The grey market premium (GMP) for DAM Capital Advisors shares remained strong throughout the offering, reaching ₹160 per share on the final day. This suggests a potential listing price of around ₹443, representing a premium of 56.54% over the upper price band. Listing is expected on December 27th.

Several brokerage firms, including Anand Rathi and Hem Securities, issued positive recommendations for the IPO, citing DAM Capital’s strong growth trajectory, impressive financial turnaround, and strategic partnerships. Analysts highlighted the company’s market leadership and its potential to capitalize on the growing Indian capital market.

While the IPO is an OFS, meaning the company itself receives no proceeds, the strong demand reflects significant investor confidence in DAM Capital Advisors’ future prospects. The high level of oversubscription indicates a potentially successful listing and strong investor interest in the company’s shares.

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