DAM Capital Advisors Shares Experience Strong Opening Day

On its listing day, DAM Capital Advisors Ltd. saw its shares close significantly higher, marking a successful debut in the stock market. The share price ended at Rs 416 on the National Stock Exchange (NSE), which is an impressive gain of 46.99% over the issue price.

Performance on Listing Day

The shares of DAM Capital Advisors also performed well on the Bombay Stock Exchange (BSE), closing at Rs 415.40, representing a 46.78% premium from the issue price. The stock debuted on the NSE at Rs 393, which was 38.87% above the issue price of Rs 283. Similarly, it listed on the BSE at Rs 392.90, reflecting a premium of 38.83% on its first day. Throughout the trading session, the stock experienced a high of Rs 456.90, showing an intraday increase of 61.44%.

Details of the IPO

The initial public offering (IPO) for DAM Capital Advisors closed on December 23, 2024, and was met with overwhelming demand. It was subscribed 82.08 times, with a significant portion of interest coming from qualified institutional buyers. The IPO consisted of a pure offer-for-sale component amounting to Rs 840.25 crore.

Prior to the IPO opening for bidding, DAM Capital Advisors secured Rs 252 crore from anchor investors, allotting approximately 88.9 lakh shares at the price of Rs 283 to a total of 33 anchor investors. Domestic mutual funds claimed 38.86% of this allocation across ten funds involving 18 different schemes.

About DAM Capital Advisors

DAM Capital is recognized as one of India's leading merchant banks, holding a market share of 12.1% in terms of the number of initial public offerings (IPOs) and qualified institutional placements handled, according to Crisil. The company offers a wide array of financial solutions, including services in merchant banking, equity capital markets, mergers and acquisitions, private equity, and structured finance advisory. They also focus on institutional equities that comprise broking and research services.

DAM Capital Advisors currently serves 263 active clients that include registered foreign portfolio investors (FPIs) from various regions, such as India, the USA, the UK, Europe, Hong Kong, Singapore, Australia, Taiwan, South Korea, the Middle East, and South Africa.

This successful listing reflects DAM Capital Advisors' strong position in the market and highlights the growing interest in merchant banking services in India.

shares, market, IPO