4 days Ago
New Delhi, December 16: Investment bank DAM Capital Advisors on Monday fixed a price band of Rs 269-283 per share for its initial share sale, which will open for public subscription on December 19. The initial public offering (IPO) is scheduled to close on December 23 and the bidding for anchor investors will open for a day on December 18, the company announced. The IPO is solely an offer-for-sale (OFS) of 2.
97 crore equity shares worth Rs 840.25 crore, by a promoter and investors at the upper end of the price band, with no fresh issue component. Those selling shares in the OFS are promoter Dharmesh Anil Mehta, investors Multiples Alternate Asset Management, RBL Bank, Easyaccess Financial Services and Narotam Satyanarayan Sekhsaria.
Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than to the company. In its draft papers, the company stated that it plans to go public in a bid to achieve the benefit of listing equity shares on the stock exchanges and allow selling shareholders to sell their shares through the OFS. Vishal Mega Mart Share Price Today, December 18: Gurugram-Based Supermarket Chain Makes Stellar Debut on NSE, Listing at INR 104 per Share, Delivers 33% Premium to Its IPO Price .
At the upper end of the price band, the company's market capitalisation has been pegged at Rs 2,000 crore. Half of the issue has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. DAM Capital Advisors provides a wide range of financial solutions in areas of (i) investment banking comprising equity capital markets (ECM), mergers and acquisitions (M&A), private equity (PE), and structured finance advisory; and institutional equities comprising broking and research.
Headed by Mehta, DAM Capital Advisors is a fastest growing investment bank in India by revenue CAGR (compound annual growth rate) of 38.77 per cent from fiscals 2022 to 2024. It is one of the leading investment banks in India with a market share of 12.
1 per cent based on the number of IPOs and qualified institutional placements undertaken by it as the book-running lead manager in fiscal 2024, according to a CRISIL report. Concord Enviro IPO: GMP, Opening Date, Price Band – Here’s All You Need To Know . Nuvama Wealth Management is the sole merchant banker for the issue.
The equity shares of the company are expected to be listed on December 27 on the BSE and NSE..
