DAM Capital Advisors IPO Day 3 Highlights: Issue booked 81.88x on the final day; Check latest GMP, subscription status

DAM Capital Advisors IPO Live: As of December 23, the grey market premium (GMP) for the DAM Capital Advisors' public issue stands at ₹160 per share. With the upper price band at ₹283, the shares are expected to be listed on the stock market at ₹443 apiece, a premium of 56.54%. 

Grey market premium (GMP) is the investors' willingness to pay more for a public issue. The company's shares are expected to be listed on Friday, December 27. 

DAM Capital Advisors IPO Live: The public issue of DAM Capital Advisors was subscribed 81.88x on the final day. Investors subscribed for 1,70,35,38,349 shares, compared to the 2,08,04,632 shares on offer. 

The Qualified Institutional Buyers (QIBs) portion was booked 166.33x, and the Non Institutional Investors (NIIs) portion was subscribed 98.47x. The retail investors' portion was subscribed to 26.80x on the final day. 

DAM Capital Advisors IPO Live: The Qualified Institutional Buyers (QIBs) portion of the public issue is leading the bidding round on the final day, coming in at 166.33x the shares on offer. 

The overall public issue has been subscribed 80.04x the shares available on the last day. 

DAM Capital Advisors IPO Live: The Qualified Institutional Buyers (QIBs) portion of the public issue is leading the bidding round on the final day, coming in at 149.98x the shares on offer. 

The overall public issue has been subscribed 74.73x the shares available on Monday, December 23. 

DAM Capital Advisors IPO Live: The public issue of DAM Capital Advisors is receiving some last-mile booking surge as the subscription has reached 67.64x the shares on offer. 

Investors have subscribed 1,40,72,73,543 shares, compared to the 2,08,04,632 shares on offer. 

DAM Capital Advisors IPO Live: The public issue of DAM Capital Advisors public issue has received 62.02x subscription. Investors have bid for 1,29,02,65,231 shares, compared to the 2,08,04,632 shares on offer. 

DAM Capital Advisors IPO Live: As of December 23, the grey market premium (GMP) for the the public issue stands at ₹160. With the upper price band at ₹283, the shares are expected to be listed on the stock exchanges at ₹443, a premium of 56.54%, according to data collected from Investorgain.com. 

Grey market premium (GMP) is an indicator of investors' willingness to pay more for a public issue. 

DAM Capital Advisors IPO Live: The public issue of the DAM Capital Advisors public issue has received 34.20x subscription. Investors have bid for 71,14,94,790 shares, compared to the 2,08,04,632 shares on offer. 

NII portion is leading the bidding round on the final day with 66.82x subscription so far.

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO has been booked 30.93 times in total so far. The issue received bids for 64.35 crore shares as against 2.08 crore shares on the offer, as per NSE data till 2:15 PM on December 23, the third and the last day of the bidding process. 

The retail portion of the DAM Capital Advisors IPO has been subscribed 19.05 times, the Non-Institutional Investors (NII) segment has been booked 64.78 times, and the Qualified Institutional Buyers (QIBs) portion has been subscribed 26.36 times so far.

DAM Capital Advisors IPO Live: Brokerage firm Anand Rathi believes that DAM Capital Advisors is well-placed to leverage the growing capital market opportunities in India. As part of its growth strategy, the company plans to enter additional fee-based businesses to capitalize on emerging market trends. Additionally, a strategic partnership with a global merchant bank will strengthen its ability to handle cross-border transactions and broaden its international presence. Hence considering all parameters, it recommends the issue can be considered as “SUBSCRIBE for long term”. 

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO has been booked 24.46 times in total so far. The issue received bids for 50.89 crore shares as against 2.08 crore shares on the offer, as per NSE data till 1:40 PM on December 23, the third and the last day of the bidding process.

The retail portion of the DAM Capital Advisors IPO has been subscribed 17.79 times, the Non-Institutional Investors (NII) segment has been booked 51.62 times, and the Qualified Institutional Buyers (QIBs) portion has been subscribed 15.74 times so far.

DAM Capital Advisors IPO Live: DAM Capital Advisors delivered an impressive turnaround, with revenues growing by 112% in FY 2024 after a degrowth of 9% in FY 2023, while net profit surged by nearly 713% in FY 2024 compared to a decline of 60% in FY 2023. On valuation parse at the upper price band of ₹283, the DAM Capital Advisors IPO is asking for a Market cap of ₹2,000 crore. Based on annualized FY 2025 earnings and fully diluted post-IPO paid-up capital, the company is asking for a PE of 22.85x which seems reasonable considering the company’s sharp financial recovery and growth trajectory, says Rajan Shinde, Research Analyst, Mehta Equities Ltd.

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO GMP today is ₹161 per share, according to stock market observers. This shows that in the grey market, DAM Capital Advisors shares are trading higher by ₹161 apiece than their issue price. On what this DAM Capital Advisors IPO GMP means, market observers said that DAM Capital Advisors shares are trading at ₹444 apiece in the grey market, a premium of 57% to the IPO price of ₹283.00 per share.

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO has been booked 18.43 times in total so far. The issue received bids for 38.34 crore shares as against 2.08 crore shares on the offer, as per NSE data till 12:30 PM on December 23, the third and the last day of the bidding process.

The retail portion of the DAM Capital Advisors IPO has been subscribed 15.30 times, the Non-Institutional Investors (NII) segment has been booked 37.70 times, and the Qualified Institutional Buyers (QIBs) portion has been subscribed 9.42 times so far.

DAM Capital Advisors IPO Live: The ₹840.25-crore worth DAM Capital Advisors IPO is entirely an offer for sale (OFS) of 2.97 crore equity shares. Hence, the company will not receive any proceeds from the IPO and the amount raised will go to the selling shareholders in the OFS.

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO has been booked 12.22 times in total so far. The issue received bids for 25.43 crore shares as against 2.08 crore shares on the offer, as per NSE data till 11:15 AM on December 23, the third and the last day of the bidding process.

The retail portion of the DAM Capital Advisors IPO has been subscribed 12.67 times, the Non-Institutional Investors (NII) segment has been booked 25.64 times, and the Qualified Institutional Buyers (QIBs) portion has been subscribed 1.30 times so far.

DAM Capital Advisors IPO Live: The company is bringing the issue at price band of ₹269-283 per share at p/e multiple of 23x on post issue annualized H1FY25 PAT basis. The company is the fastest-growing merchant bank in India. It has proven execution with in-depth understanding of sectors and products. Its institutional equities platform with comprehensive research and execution capabilities has extensive coverage of corporates, financial sponsors and institutional investors, with repeat business. The company has experienced management and professionals, backed by a majority independent board. Also, the company has a strong track record of revenue growth and profitability. Hence, looking after all above , we recommend “Subscribe” on issue, said Hem Securities.

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO has been booked 9.63 times in total so far. The issue received bids for 20.02 crore shares as against 2.08 crore shares on the offer, as per NSE data till 10:30 AM on December 23, the third and the last day of the bidding process.

The retail portion of the DAM Capital Advisors IPO has been subscribed 10.71 times, the Non-Institutional Investors (NII) segment has been booked 18.15 times, and the Qualified Institutional Buyers (QIBs) portion has been subscribed 1.27 times so far.

DAM Capital Advisors IPO Live: The issue is valued at a price-to-earnings (P/E) ratio of 28.4x on the upper price band based on FY24 earnings, which is relatively expensive compared to its peers. However, considering the company’s improving financials, its rapidly growing merchant banking business, and favourable industry trends, we recommend a “SUBSCRIBE” rating for the issue. 

DAM Capital Advisors IPO Live: DAM Capital is the fastest-growing merchant bank in India by revenue CAGR from FY22 to FY24, with the highest profit margin in FY24 among the peers considered. DAM Capital achieved a market share of 12.1% in FY24, based on the number of initial public offerings (IPOs) and qualified institutional placements (QIPs) undertaken as the book-running lead manager.

As of FY24, 67% of revenue comes from merchant banking, followed by stock broking at 28.3%. From the date of acquisition on November 7, 2019, to October 31, 2024, DAM Capital successfully executed 72 ECM transactions, comprising 27 IPOs, 16 QIPs, 6 OFS, 6 preferential issues, 4 rights issues, 8 buybacks, 4 open offers, and 1 IPOs of units by a REIT. Additionally, 23 advisory transactions were completed, including M&A advisory, private equity advisory, and structured finance advisory, along with the execution of block trades during this period.

Further, in the six months ended September 30, 2024, and Fiscal 2024, DAM Capital served as book-running lead manager to 5 and 17 IPOs and QIPs, respectively. Since the acquisition, market share has consistently improved from 8.2% in FY21 to 12.1% in FY24, based on the number of IPOs and QIPs undertaken as the book-running lead manager.

DAM Capital Advisors IPO Live: DAM Capital Advisors shares are showing a positive trend in the unlisted market with a strong grey market premium today. DAM Capital Advisors IPO GMP today is ₹161 per share, according to stock market observers. This shows that the shares of the company are available at a premium of ₹161 in the grey market today. On what this DAM Capital Advisors IPO GMP means, market observers said that DAM Capital Advisors shares are trading at ₹444 apiece in the grey market, a premium of 57% to the IPO price of ₹283.00 per share. After two days of bidding, DAM Capital Advisors IPO GMP signals that allottees may get around 57% return on their money.

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO has been subscribed 6.98 times so far, as per NSE data till December 20, the second day of the bidding process. The retail portion has been subscribed 8.96 times, the Non Institutional Investors (NII) segment has been filled 11.49 times, and the Qualified Institutional Buyers (QIBs) portion is subscribed 7%.

DAM Capital Advisors IPO Live: DAM Capital Advisors IPO price band is set at ₹269 to ₹283 per share. The IPO lot size is 53 shares and the minimum investment amount required by retail investors is ₹14,999.  The ₹840.25-crore worth DAM Capital Advisors IPO is entirely an offer for sale (OFS) of 2.97 crore shares

DAM Capital Advisors IPO Live: The initial public offering (IPO) of Dam Capital Advisors Ltd enters its third and the last day of bidding today. DAM Capital Advisors IPO opened for public subscription on December 19 and closes today, December 23. During the first two days of the bidding process, the issue received decent demand and has been oversubscribed, while now only one day is left to apply for the DAM Capital Advisors IPO.