Strong Beginning for DAM Capital Advisors
Opening Day: 840 crore Initial Public Offering (IPO)n of DAM Capital Advisors is currently evhh seeing bright levels of over-subscription at 2.75 times. The IPO is being opened for subscription on December 19 with considerable share purchases by Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs) in attendance.
Important Highlights
- The issue’s bid saw 5.71 crore share subscription against the 2.08 crore shares reserved for subscription, as per NSE data.
- Retail investors oversubscribed their portion 3.87 times.
- Also, NII portion performed equally well with subscription nearing 3.72 times.
- The IPO raised ₹251 crore from anchor investors before public listing and gave strong opening momentum to the offering.
- A price range of ₹269-283 per share would give the firm a market capitalisation of ₹2,000 crore assuming it is priced at the higher point of that range.
Grey Market Buzz
Of course, the IPO has been really fantastic worth in the grey market from where the shares quoted a premium of ₹148, which would amount to a gain of around 52.3% on listing, according to market watchers.
Offer Details
Pure OFS: The IPO is a pure offer-for-sale of 2.97 crore equity shares aggregating to ₹840.25 crores. Shares are being offloaded by promoters and existing investors; there is no fresh equity issuance in this offer.
About DAM Capital Advisors
DAM Capital Advisors is a leading financial services firm, comprehensively serving various domains including: Investment Banking: Equity capital markets, mergers and acquisitions, private equity and structure
Disclaimer: The information provided here is based on publicly available data. Readers are advised to consult certified financial advisors before making investment decisions.
