Shares of DAM Capital Advisors Ltd. ended with gains of 5.85% over the listing price on the National Stock Exchange. The stock closed at a 5.73% premium on the BSE, at Rs 415.40 per share.
The company's shares had debuted on the NSE at Rs 393 apiece, at a premium of 38.87% over the issue price of Rs 283. The stock listed on the BSE at Rs 392.90 per share, marking a premium of 38.83%. Intraday, the stock rose as much as 61.44%, reaching Rs 456.90 per share.
DAM Capital Advisors' IPO, which closed on Dec. 23, was subscribed 82.08 times, with demand led by qualified institutional buyers. The IPO comprised a pure offer-for-sale component worth Rs 840.25 crore.
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 raised Rs 252 crore from anchor investors a day before its IPO opened for bidding. The lender allotted approximately 88.9 lakh shares at Rs 283 apiece to 33 anchor investors, with domestic mutual funds securing 38.86% of the total allocation through ten funds across 18 schemes.
Nuvama Wealth Management Ltd. is the book-running lead manager for the issue, whereas Link Intime India Pvt. is the registrar.
DAM Capital Advisors Business
DAM Capital is one of the leading merchant banks in India with a market share of 12.1%, based on the number of initial public offerings 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.
It services 263 active clients, including registered FPIs spread across geographies such as India, USA, UK, Europe, Hong Kong, Singapore, Australia, Taiwan, South Korea, Middle East and South Africa.
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