DAM Capital Advisors IPO: Latest GMP hints at blockbuster listing
DAM Capital Advisors's initial public offering (IPO) received overwhelming response from investors, with an overall subscription of 81.88 times by the end of final day on December 23. The shares will make their market debut on December 27, following the strong response. The retail investor segment subscribed 26.8 times the shares reserved for them while QIB and NII categories were subscribed a whopping 166.33 and 98.47 times, respectively.
DAM Capital's IPO details and employee participation
The public issue, which opened for subscription on December 19, is a book-built issue worth ₹840.25 crore. It includes an Offer for Sale (OFS) of 2.97 crore shares by the selling shareholders, meaning the company won't receive any money from the offering. The IPO's price band was set between ₹269 and ₹283 per share. Notably, employees also showed strong interest in the issue, subscribing 40.09 times their reserved portion.
Anticipated gains and share allotment status
At the time of writing, the GMP was ₹165. Given the upper limit price of ₹283, the IPO is expected to list at around ₹448. This would mean an expected gain of 58.3% per share for investors. The shares were allotted on Tuesday and investors can check their allotment status via either the Bombay Stock Exchange (BSE) or Link Intime India Private Ltd's websites.
DAM Capital's market position and transaction history
Based on the number of initial public offerings and qualified institutional placements, DAM Capital is India's leading merchant bank with a 12.1% market share. From November 2019 (when Dharmesh Mehta acquired this business from IDFC) to October 2024, it has executed 72 ECM (equity capital markets) transactions. These include 27 IPOs, 16 QIPs, six OFS, six preferential issues, four rights issues, eight buybacks, four open offers, and one REIT IPO.
