DAM Capital files DRHP

New Delhi: Investment bank DAM Capital Advisors has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO). The IPO is solely an offer-for-sale (OFS) of 3.2 crore equity shares, with no fresh issue component, according to the draft red herring prospectus (DRHP) filed on Tuesday.

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.