DAM Capital IPO Opens December 19, Price Band Set at ₹269-₹283

17 Dec 2024 , 06:01 AM

DAM Capital Advisors Ltd has announced that it had fixed the IPO price band at ₹269-₹283, with the face value per share set at ₹2. IPO will go live from December 19 and closes on December 23 thereby giving investors four working days for application. Anchor allocation will happen on December 18 in advance of the public issuance.

Investors can acquire shares in a minimum lot size of 53 and multiples of 65 thereafter. The IPO has retained 50% of its shares for QIBs, 15% for NIIs, and 35% for retail investors.

Critical dates for the IPO are:

Finalization of share allotment on December 24.
Refunds and credit of demat shares on December 26.
Expected listing on BSE and NSE on December 27.

Dharmesh Anil Mehta, Sonali Dharmesh Mehta, and Boombucket Advisors Private Limited are the promoters of DAM Capital.

Financial performance highlights:

Net profit in FY24 surged eight-fold to ₹70.5 crore against ₹8.6 crore reported in FY23.
Revenue growth was 112% at ₹180 crore for FY24 compared with ₹84.9 crore for the previous fiscal year.
For the first half of FY25, profit was ₹43.8 crore on a revenue of ₹107.8 crore.

It is strictly an offer-for-sale involving 2.96 crores of equity shares of the company with no new issue. The selling promoter is Dharmesh Anil Mehta and investors- Multiples Alternate Asset Management, Narotam Satyanarayan Sekhsaria, RBL Bank, Easyaccess Financial Services among others.

Dharmesh Anil Mehta, his wife and Boombucket Advisors with 45.88%. Rest being held by other investors with 54.12%. Nuvama Wealth Management will act as the sole book-running lead manager in the IPO while Link Intime India is responsible for the registrar requirements.