Day 3 of Dam Capital Advisors IPO: Issue Booked by 12 Times, All You Need to Know

The initial public offering (IPO) of Dam Capital Advisors Ltd enters its final phase today as the entire IPO has been subscribed by 12.22 times so far. Priced between ₹269 to ₹283 apiece, the IPO is valued at ₹840.25 crore.

While the portion of Non-Institutional Investors (NII) segment and Retail Individual Investors have been subscribed by 25.64 times and 12.67 times respectively, Qualified Institutional Buyers (QIBs) have booked the lot by 1.30 times so far.

The issue is entirely an offer for sale (OFS) of 2.08 crore shares. Under this arrangement, promoters offload their stake and sell their shares to the public via the exchange platform.

Hem Securities has recommended a ‘subscribe’ on the issue. The stock broker said that the company has an in-depth understanding of sectors and products. Backed by a majority independent board, the company has experienced management professionals. In the past the company has reported strong revenue growth and profitability.

Founded in 1993, DAM Capital Advisors Limited (DAM Capital) is a capital markets company that offers a wide range of financial solutions in investment banking.