The IPO of DAM Capital Advisors, formerly known as IDFC Securities, is set to open today, offering 2.97 crore equity shares in a price band of ₹269-283. The initial public offering, which will run for three days until December 23, consists solely of an offer-for-sale by existing shareholders, aiming to raise ₹840.25 crore.
The IPO allocation reserves 50% for qualified institutional buyers, 35% for retail investors, 15% for non-institutional investors, and 70,000 shares for eligible employees. The company raised ₹251.48 crore from anchor investors, including Nomura, Goldman Sachs, and other prominent names in the industry.
DAM Capital Advisors, a leading investment bank in India, offers a wide range of financial solutions in investment banking, private equity, and institutional equities. The company aims to leverage the IPO to list its equity shares on stock exchanges and facilitate shareholders’ exits through the offer-for-sale.
The IPO’s lead manager, Nuvama Wealth Management, will oversee the listing of DAM Capital Advisors on the BSE and NSE. With a market share of 12.1% in IPOs and qualified institutional placements, the company is poised for a successful public debut.
Investors and market participants are closely watching the IPO of DAM Capital Advisors, expecting strong demand given the company’s track record and reputation in the financial services industry. Stay tuned for updates on the IPO’s performance and market reception as it unfolds in the coming days.
