DAM Capital Advisors Shares Surge on Debut, Listing at 38% Premium
Shares of DAM Capital Advisors made an impressive debut on the NSE today, listing at ₹393 apiece, a 38.8% premium over the issue price of ₹283. By 10:30 am, the share price had soared further, jumping 16% to reach a high of ₹436, delivering substantial gains to investors who participated in the IPO.
For those who secured shares during the public issue, the returns have been remarkable—around 61% gains from the IPO price of ₹283 per share.
A Strong Start Amid High Demand
The IPO was met with overwhelming interest, being oversubscribed 81.8 times on its final subscription day. The offer, which was entirely an offer-for-sale (OFS), had a price band set between ₹269 and ₹283. The issue raised ₹840.25 crore, with a total of 2.97 crore shares up for grabs.
Business Overview
DAM Capital Advisors is a SEBI-registered merchant banker and research analyst firm, offering a broad range of financial services. Its areas of expertise include:
- Merchant Banking: Focused on equity capital markets, mergers and acquisitions, private equity, and structured finance advisory.
- Institutional Equities: Providing services in broking and research.
The company commands a significant market share of 12.1% in fiscal 2024, based on the number of IPOs and qualified institutional placements (QIPs) where it acted as the book-running lead manager.
Impressive Track Record
In the past three fiscal years, DAM Capital has played a pivotal role in helping clients raise over ₹25,648 crore through IPOs and ₹10,534 crore through QIPs. Merchant banking contributes over 67% of the company’s revenue, while the broking business accounts for the remainder.
The company, which operates with 121 employees as of October 31, 2024, earns most of its income from fees and commissions.
Market Excitement Reflects Business Confidence
The strong listing and subsequent price surge underscore the market’s confidence in DAM Capital Advisors’ business model and growth potential. With its robust presence in the merchant banking space and its ability to execute high-profile deals, the company has become a trusted name in the financial sector.
Key Highlights of the IPO
- IPO Price Band: ₹269–₹283
- Offer Size: ₹840.25 crore (entirely OFS)
- Listing Price: ₹393 apiece (38.8% premium over issue price)
- Day’s High (10:30 am): ₹436 apiece (16% jump post-listing)
Looking Ahead
The successful listing of DAM Capital Advisors reflects its strong fundamentals and the high investor demand for its shares. With a history of delivering impactful financial solutions and a growing reputation in the capital markets, the company is well-positioned to capitalize on future opportunities.
