The IPO of DAM Capital Advisors has created quite a buzz in the market with the stock closing almost 46% higher than its issue price on its market debut. This signifies strong investor interest in the company and its prospects.
The IPO, which raised ₹840 crores, saw a huge oversubscription from various investor categories. The QIB portion was oversubscribed 166 times, NII 98 times, and Retail Investors 27 times, indicating a high level of demand for the shares.
DAM Capital Advisors’ IPO was entirely an offer-for-sale by existing shareholders, including promoter Dharmesh Anil Mehta and investors like Multiples Alternate Asset Management, RBL Bank, and Easyaccess Financial Services. This means that the funds raised through the IPO will not go towards the company’s operations but will instead provide an exit opportunity for the existing shareholders.
The strong listing performance of DAM Capital Advisors indicates that investors have confidence in the company’s future growth prospects and are willing to pay a premium for its shares. It will be interesting to see how the stock performs in the coming days and whether it can sustain its initial momentum.
Overall, the success of DAM Capital Advisors’ IPO reflects the positive sentiment in the market and highlights the attractiveness of the company to investors. It will be worth keeping an eye on this stock to see how it progresses in the future.
