DAM Capital Advisors made an impressive entry into the stock market, with shares listing at a 39% premium.
On Friday, december 27, the company's shares began trading on the NSE at Rs 393 each, reflecting a 38.87% increase from the issue price of Rs 283 per share. On the BSE, trading started at Rs 392.90, indicating a premium of 38.83% relative to the issue price.
This launch met market anticipations, as analysts and the grey market premium (GMP) had forecasted a listing premium of around 40%-50%, spurred by positive sentiment and strong subscription numbers. The DAM capital Advisors IPO garnered an exceptional response, with an overall subscription rate of 81.88 times by the end of Day 3 on december 23, 2024.
The public offering was available for subscription starting december 19. The DAM capital Advisors IPO is a book-built issue valued at Rs 840.25 crore. It comprises an entirely Offer for Sale (OFS) of 2.97 crore shares from selling shareholders, indicating that the company will not receive any proceeds from this offering.
The set price band for the IPO lies between Rs 269 and Rs 283 per share, with the minimum lot data-size for applications being 53 shares, resulting in a minimum investment of Rs 14,999 for retail investors.
Share allotment was concluded on Tuesday. Investors can check the DAM capital Advisors IPO allotment status via the bombay Stock Exchange (BSE) website or through Link Intime india Private Ltd, which is the registrar for the issue. Nuvama Wealth Management Limited serves as the book-running lead manager for the IPO, while Link Intime india Private Ltd is the registrar for the offering.