DAM Capital Advisors Raises Rs 252 Crore From Anchor Investors Prior To IPO Launch
Ten domestic mutual funds have applied through 18 schemes, says DAM Capital.
DAM Capital Advisors Ltd. raised Rs 251.5 crore from anchor investors on Wednesday ahead of its initial public offering. The company allotted approximately 88.9 lakh shares at Rs 283 apiece to 33 anchor investors.
Five funds, including HDFC Mutual Fund-HDFC Dividend Yield Fund and Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund, got the highest allocation of 5.34% each. Malabar India Fund Ltd., Societe Generale-ODI and Aditya Birla Sun Life Insurance Co. got the second highest allotment of 3.98% each.
Ten domestic mutual funds have applied through 18 schemes. They have collectively netted 38.86% of the anchor portion, the investment bank said in an exchange filing.
HDFC, Kotak, Nippon, Edelweiss and Whiteoak Capital were among the top fund houses in this category. Nuvama Wealth Management Ltd. is the book-running lead manager to the issue.
The company will launch its initial public offering on Thursday to raise up to Rs 840.3 crore. The company has set a price band of Rs 269–283 per share for its three-day IPO, which only comprises an offer for sale of 2.97 crore shares. The minimum application lot size is 53 shares.
The offer, which concludes next Monday, is set to list on the BSE and the National Stock Exchange.
The company will not receive any proceeds from the IPO as the issue consists solely of an OFS. The entire proceeds will be received by the promoter of DAM Capital.
DAM Capital is one of the leading merchant banks in India with a market share of 12.1%, based on the number of IPOs and qualified institutional placements undertaken, as per Crisil.
The company provides a range of financial solutions in areas of merchant banking, comprising equity capital markets, mergers and acquisitions, private equity, and structured finance advisory and institutional equities comprising broking and research.
