DAM Capital Advisors shares list at 39% premium over issue price

The shares of DAM Capital Advisors listed at a premium of 38.87% on the exchanges on Friday. The stock debuted at Rs 393 on the NSE and Rs 392.90 on the BSE (up 38.83%), against an issue price of Rs 283.

Despite the offer being entirely an OFS, DAM Capital Advisors received very strong response from investors with an overall subscription of 81.88 times at close. Analysts believe the demand was on the back of reasonable valuations keeping good listing gains on table for new investors.

"We recommend conservative allotted investors can think of booking profits above our expectations. While long term investors should consider taking risk on the post listing trend on the company to 'Hold for Long Term' despite knowing short term volatility and risk in the markets. For non-allotted investors, we advise to accumulate if we get dips post listing due to profit booking attempts," said Prashanth Tapse, Sr VP Research – Research Analyst, Mehta Equities.


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Since the IPO is entirely an OFS, the proceeds from the offer will go to the selling shareholders.
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DAM Capital Advisors Limited (DAM capital) is one of the leading investment banks in India. The company offers a wide range of financial solutions in the areas of investment banking comprising equity capital markets (M&As, private equity (PE) and structured finance advisory and institutional equities comprising broking and research.

It has successfully executed 72 ECM transactions comprising 27 IPOs, 16 qualified institutions placements, 6 offers for sale, 6 preferential issues, 4 rights issues, 8 buybacks, 4 open offers and 1 initial public offer of units by a real estate investment trust (REITs).

The company has achieved rapid growth with the total income growing at a CAGR of 38.77% to Rs 182 crore over FY22-FY24.

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