Fri Dec 27 14:40:46 UTC 2024: ## DAM Capital Advisors Shares Soar on Stock Market Debut

**Mumbai, India (December 27)** – DAM Capital Advisors, a leading merchant bank, enjoyed a spectacular debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, with shares closing significantly above their issue price. The IPO, open from December 19th to 23rd, was oversubscribed by a staggering 82 times, indicating strong investor confidence.

The shares opened at ₹393 on the NSE, a premium of 38.87% over the issue price of ₹283, and reached an intraday high of ₹439, representing a 55.2% increase. By the end of the day, shares settled 5.64% higher at ₹415.05 on the BSE, a 46% increase from the issue price. This robust performance reflects DAM Capital Advisors’ strong financial position and market leadership.

The company, which derives 67% of its revenue from merchant banking, boasts an impressive track record. Since November 7, 2019, it has executed 72 ECM transactions, including numerous IPOs and QIPs, and consistently increased its market share, reaching 12.1% in FY24. Financial reports highlight strong growth in total income and EBITDA.

Analysts attribute the successful debut to reasonable valuations and positive market sentiment. Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., advised conservative investors to consider booking profits, while suggesting long-term investors hold their positions despite potential short-term volatility. He also recommended that non-allotted investors consider accumulating shares if prices dip due to profit-booking. Abhishek Pandya, Research Analyst at StoxBox, echoed a similar sentiment, emphasizing the company’s strong market presence and financial performance.

The strong grey market premium, estimated at ₹150 per share before the listing, further supported these expectations. The high subscription rate across all investor categories, particularly the significant oversubscription from Qualified Institutional Buyers (QIBs), solidified DAM Capital Advisors’ strong start on the stock market.

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