Fri Dec 27 13:25:43 UTC 2024: ## DAM Capital Advisors IPO Lists at 39% Premium, Overwhelming Investor Demand

**Mumbai, December 27** – DAM Capital Advisors, a prominent Indian investment bank, saw its Initial Public Offering (IPO) debut today on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with a resounding success. The IPO, which concluded on December 23, was oversubscribed by a staggering 81.88 times, with Qualified Institutional Buyers (QIBs) leading the charge at 166.33 times oversubscription. Retail investors also showed significant interest, subscribing 26.8 times.

The offer, entirely an Offer for Sale (OFS) raising ₹840.25 crore, saw shares list at a premium of 39% above the upper price band of ₹283, opening at ₹392.90 on the BSE and ₹393 on the NSE. Within minutes of listing, the share price surged further, reaching ₹438.35 on the BSE and ₹441.80 on the NSE, representing increases of 11.96% and 12.42% respectively. By midday, the shares were trading around ₹430. While the proceeds went to selling shareholders, not DAM Capital Advisors itself, the strong listing reflects confidence in the company’s future.

DAM Capital Advisors’ impressive financial performance, with a 114% revenue jump and 713% increase in profit after tax between March 2023 and March 2024, likely contributed to the enthusiastic investor response. The company holds a significant 12.1% market share in IPOs and QIPs in Fiscal 2024.

Nuvama Wealth Management acted as the book-running lead manager, while Link Intime India Private Ltd served as the registrar. Analysts, like Prashanth Tapse, Senior VP (Research) at Mehta Equities, advise conservative investors to book profits at these high levels, while suggesting long-term investors might consider holding, despite market volatility. He also recommends non-allotted investors consider accumulating shares if price dips occur due to profit-booking.

The grey market had already predicted strong listing gains, indicating a potential listing price of ₹426. The strong debut solidifies DAM Capital Advisors’ position in the Indian investment banking landscape.

Read More