DAM Capital Advisors IPO - Day 1 Subscription at 0.49 Times

The opening day of DAM Capital Advisors' initial public offering has demonstrated an encouraging start, with overall subscription reaching 0.49 times by 11:15 AM on December 19, 2024. What makes this initial response particularly noteworthy is the strong employee participation at 1.13 times, suggesting significant internal confidence in the company's growth trajectory as one of India's prominent investment banking institutions.

DAM Capital Advisors IPO subscription pattern reveals a balanced response across investor categories, with retail investors showing solid interest at 0.79 times subscription. The Non-Institutional Investors have demonstrated selective participation at 0.44 times, with smaller NIIs showing stronger conviction at 0.84 times compared to larger NIIs at 0.24 times. The QIB portion is yet to see participation, though this is typical for institutional investors who often take a measured approach during the initial hours, particularly given the substantial anchor book of ₹251.481 crores that provides a strong foundation.

Subscription Status of DAM Capital Advisors IPO:

*As of 11:15 AM

Here are the subscription details for DAM Capital Advisors IPO as of Day 1 (19th December 2024, 11:15 AM):
 

Total Applications: 1,50,605

Key Highlights:

• Overall subscription began at 0.49 times, demonstrating balanced initial market response
• Employee participation stands out at 1.13 times, indicating strong internal confidence
• Retail investors showed encouraging interest with 0.79 times subscription, worth ₹233.207 crores
• NII category began with 0.44 times subscription, with stronger sNII participation at 0.84 times
• Strong anchor book of ₹251.481 crores provides institutional backing
• Total bids received for 1.02 crore shares worth ₹290.994 crores
• Applications reached 1,50,605, showing broad market interest
• Opening day response reflects measured evaluation of investment banking sector

About DAM Capital Advisors Limited:

Established in 1993 and rebranded as DAM Capital Advisors in 2020, the company has evolved into a comprehensive investment banking institution. Their service portfolio spans two key segments: investment banking (including equity capital markets, M&A, private equity, and structured finance advisory) and institutional equities (comprising broking and research).

Their track record is impressive, having successfully executed 72 ECM transactions and 23 advisory transactions since November 2019. With 121 employees, including 29 in research and 34 in broking, they serve 263 active clients across major global financial centers. Their financial performance has been particularly strong, achieving 114% revenue growth and 713% PAT increase between FY2023 and FY2024, highlighting their growing market presence in India's financial services sector.

Highlights of the DAM Capital Advisors IPO:

• IPO type: Book Built Issue
• IPO size: ₹840.25 crores
• Offer for Sale: 2.97 crore shares
• Face value: ₹2 per share
• Price band: ₹269 to ₹283 per share
• Lot size: 53 shares
• Minimum investment for retail investors: ₹14,999
• Minimum investment for sNII: ₹2,09,986 (14 lots)
• Minimum investment for bNII: ₹10,04,933 (67 lots)
• Employee reservation: 70,000 shares
• Listing at: BSE, NSE
• IPO opens: December 19, 2024
• IPO closes: December 23, 2024
• Allotment date: December 24, 2024
• Refund initiation: December 26, 2024
• Credit of shares: December 26, 2024
• Listing date: December 27, 2024
• Lead Manager: Nuvama Wealth Management Limited
• Registrar: Link Intime India Private Ltd

The initial day's subscription pattern suggests a thoughtful market approach to evaluating DAM Capital's strong position in investment banking and its potential to capitalize on India's growing capital markets opportunities.