Dam Capital Advisors sets IPO price band at ₹269-283 a share

DAM Capital Advisors’ ₹840 crore initial public offer, priced in the range of ₹269-283 a share, will be open for subscription from December 19-23, and investors can bid for a minimum of 53 shares.

The IPO is entirely through an offer for sale of up to 2.97 crore shares with up to 87 lakh shares being sold by Multiples Alternate Asset Management, up to 70 lakh shares by Narotam Satyanarayan Sekhsaria, up to 57.7 lakh shares by RBL Bank and other shareholders such as Easyaccess Financial Services and Dharmesh Anil Mehta.

The bidding for anchor book will be held on Wednesday.

Dam Capital is a fast-growing investment bank whose revenue has increased over 38 per cent annually from FY22 to FY24. It offers a range of services such as equity capital market, mergers and acquisitions, private equity and structure finance advisory.

It had over 12 per cent market share in IPOs and QIPs last fiscal year. Since inception it has executed 67 equity capital markets transactions and 20 advisory transactions.

Promoter Dharmesh Mehta along with his wife and firm Boombucket Advisors hold 45.9 per cent stake in the company.