December 17, 2024
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DAM Capital Advisors IPO Review * by Paresh Gordhandas, CA & Research Analyst.
DAM Capital Advisors Limited is a leading Indian investment bank offering a wide array of financial services across two core segments: Investment Banking and Institutional Equities. As of July 31, 2024, the company has successfully completed 67 ECM transactions, including 26 IPOs, 15 Qualified Institutional Placements (QIPs), 5 Offers for Sale, 6 Preferential Issues, 3 Rights Issues, 7 Buybacks, 4 Open Offers, and 1 IPO of units for a Real Estate Investment Trust (REIT).
Its wholly owned subsidiary, DAM Capital (USA) Inc., based in New York, is registered as a Broker-Dealer with the U.S. Securities and Exchange Commission (SEC), enabling the company to expand its global footprint.
DAM Capital is a debt-free, cash-rich company, making it financially stable. The company is launching an Offer for Sale (OFS) IPO valued at Rs. 840.25 crore, with strong oversubscription expected. The retail portion is Rs. 294.09 crore, and the HNI portion is Rs. 126.03 crore.
While the company’s shares are priced at a slightly higher valuation compared to peers, its focus on merchant banking sets it apart from competitors that have a larger share of broking and securities business. The ratio of the grey market premium to the offer price is highly attractive, further enhancing the IPO’s appeal.
Given the strong potential for listing gains and solid long-term growth prospects, this IPO presents a compelling investment opportunity.
The IPO opens on 19 December 2024 and closes on 23 December 2024.
DAM Capital Advisors IPO Review
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