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DAM Capital Advisors IPO

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IPO Details

Bidding Dates

19 Dec '24 - 23 Dec '24

Minimum Investment

₹14,999 / 1 Lot (53 Shares)

Price Range

₹269 - ₹283

Maximum Investment

₹1,94,987 / 13 Lot (689 Shares)

Retail Discount

To be announced

Issue Size

₹840.25 crore

Investor category and sub category

Retail Individual Investors (RII)  |  Non-institutional Investors (NII)  |  Qualified Institutional Buyers (QIB)  |  Eligible Employees

DAM Capital Advisors IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Dec 19, 24

IPO Closing Date

Dec 23, 24

Basis of Allotment

Dec 24, 24

Initiation of Refunds

Dec 26, 24

IPO Listing Date

Dec 27, 24

DAM Capital Advisors IPO Subscription Details (times)

DateQIBEMPNIIRetailTotal

Day 12024-12-19

0.016.283.743.952.79

About DAM Capital Advisors IPO

DAM Capital Advisors IPO is a book-built issue worth ₹840.25 crore, consisting entirely of an offer for sale of 2.97 crore shares. The IPO subscription period has started today, and will close on December 23, 2024. The allotment is expected to be finalised on December 24, 2024, with the listing scheduled for December 27, 2024, on both BSE and NSE.

The price band for the IPO is fixed between ₹269 and ₹283 per share. Retail investors are required to apply for a minimum lot size of 53 shares, amounting to an investment of ₹14,999. For sNII investors, the minimum application size is 14 lots (742 shares), which equals ₹2,09,986, while bNII investors must apply for at least 67 lots (3,551 shares), requiring an investment of ₹10,04,933.

Nuvama Wealth Management Limited serves as the book-running lead manager for the IPO, ensuring smooth execution. Link Intime India Private Ltd is the registrar responsible for managing the allotment process. DAM Capital Advisors’ IPO offers investors an opportunity to participate in a notable capital market listing.

Industry Outlook

  1. While physical assets accounted for 71% of household savings in FY23, financial assets are expected to gain share in the next 5 years as investors look for higher-yielding options amid inflation.
  2. The NSE’s market capitalisation grew at a CAGR of 14.4% from FY11 to FY24, while NIFTY 50 recorded a 10.9% CAGR during the same period, showcasing the capital market's dynamic growth.

DAM Capital Advisors IPO Objectives 

The proceeds from the Offer for Sale will not go to the company, as they will be received by the selling shareholders. Each selling shareholder will receive their proportionate share of the proceeds after deducting Offer-related expenses and applicable taxes.

About DAM Capital Advisors Limited 

DAM Capital Advisors Limited is one of India’s fastest-growing merchant banks, with a revenue CAGR of 38.77% from Fiscals 2022 to 2024 and the highest profit margin among peers in Fiscal 2024 (Source: CRISIL Report). It holds a market share of 12.1% as the book-running lead manager in IPOs and qualified institutional placements during Fiscal 2024.

The company provides comprehensive financial solutions, including merchant banking services like equity capital markets (ECM), mergers and acquisitions (M&A), private equity (PE), and structured finance advisory. Additionally, its institutional equities business delivers broking and research services to 263 active clients across global markets, including India, the USA, UK, Europe, and Asia.

Since its acquisition in 2019, DAM Capital has executed 72 ECM transactions and 23 advisory deals, demonstrating its strong execution capabilities. Under the leadership of Dharmesh Anil Mehta, with over 25 years of experience, the company achieved significant financial growth. For Fiscal 2024, total income reached ₹1,820.00 million, while profit after tax stood at ₹705.23 million.

Backed by seasoned professionals, with 54 employees having over 18 years of experience, the company remains strategically positioned to capitalise on India’s economic growth. With India’s equity markets achieving record levels, DAM Capital Advisors is well-poised to deliver innovative and tailored financial solutions.

How To Check the Allotment Status of the DAM Capital Advisors IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for a DAM Capital Advisors IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the DAM Capital Advisors IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of DAM Capital Advisors Limited 

Registered office: PG-1, Ground Floor, Rotunda Building, Dalal Street, Fort, Mumbai 400 001, Maharashtra, India

Phone: +91 22 4202 2500

E-mail: compliance@damcapital.in 

 

DAM Capital Advisors IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not more than 50% of the offer

Retail Shares Offered

Not less than 35% of the offer

NII (HNI) Shares Offered

Not less than 15% of the offer

 

DAM Capital Advisors IPO Category Reservation Table

Application Category

Maximum Bidding Limits

Bidding at Cut-off Price Allowed

Only RII

Up to ₹2 lakh

Yes

Only sNII

₹2 lakh to ₹10 lakh

No

Only bNII

₹10 lakh to NII Reservation Portion

No

Only employee

Up to ₹5 lakh

Yes

Employee + RII/NII

Employee limit: Up to ₹5 lakh (In certain cases, employees are given discount if bidding amount is up to ₹2 lakh)

If applying as RII: Up to ₹2 lakh

If applying as NII: sNII > ₹2 lakh and up to ₹10 lakh and bNII > ₹10 lakh

Yes for shareholder/RII

 

DAM Capital Advisors IPO Lot Size Details

Application

Lots

Shares

Amount

Retail (Min)

1

53

₹14,999

Retail (Max)

13

689

₹1,94,987

S-HNI (Min)

14

742

₹2,09,986

S-HNI (Max)

66

3,498

₹9,89,934

B-HNI (Min)

67

3,551

₹10,04,933

 

DAM Capital Advisors IPO Promoter Holding

The company's Promoters are Dharmesh Anil Mehta, Sonali Dharmesh Mehta and Boombucket Advisors Private Limited.

Share Holding Pre Issue

45.88%

Share Holding Post Issue

-

 

Key Performance Indicators for DAM Capital Advisors IPO

As of March 31, 2024, the KPIs of DAM Capital Advisors

KPI

Values

ROE

54.72%

RoNW

44.98%

PAT Margin

38.75

Price to Book Value

12.76

Price Metrics

Metric

Pre-IPO

Post-IPO

P/E (x)

28.37

28.37

EPS (₹)

9.98

9.98

 

DAM Capital Advisors IPO Prospectus

DAM Capital Advisors IPO Registrar and Lead Managers

DAM Capital Advisors IPO Lead Managers

Nuvama Wealth Management Limited

Registrar for DAM Capital Advisors IPO

 Link Intime India Private Ltd

Website: DAM Capital Advisors IPO Registrar

Financial Performance of DAM Capital Advisors Limited

Particulars Year ending on March 31, 2024Year ending on March 31, 2023
Revenue from Operation (in ₹ million)1,800.42 849.26
Profit After Tax (PAT) (in ₹ million)705.23 86.74
Total Borrowings (in ₹ million)49.29 32.94
Net Worth (in ₹ million)1,567.86 876.77
Return on Net Worth (%)44.98 9.89
EBITDA (in ₹ million)1,010.59 182.28
Earning Per Share (EPS)-in absolute ₹9.98 1.23

Know before investing

Strengths

8
  1. DAM Capital achieved a revenue CAGR of 38.77% from FY22-FY24.

  2. Highest profit margin in Fiscal 2024 among peers as per CRISIL.

  3. Market share grew from 8.2% in FY21 to 12.1% in FY24.

  4. Strong merchant banking team with 40 employees, 9 having 18+ years’ experience.

  5. Completed 17 IPOs and QIPs as book running lead managers in FY24.

  6. The company aims to expand into InvITs, offshore listings, venture fundraising, and M&A.

  7. Targeting asset management with AUM growth projected at 17-18% CAGR.

  8. Leveraging expertise in emerging sectors like clean energy and semiconductors.

Risks

8
  1. Changes in laws and delayed licenses may disrupt business operations and negatively affect financial performance.

  2. The company’s revenue is primarily dependent on two income sources—advisory fees and brokerage.

  3. Adverse market conditions or economic downturns can severely affect the company's performance in its merchant banking and institutional equities businesses.

  4. International operations in the USA are subject to inspections by regulatory authorities, which could lead to penalties or adverse regulatory actions.

  5. The company faces potential liabilities in case of legal claims arising from misleading statements, inaccurate advice, or unauthorised trading.

  6. In Fiscal Year 2024, DAM Capital's total income from advisory fees and brokerage reached ₹1,738.35 million, highlighting the reliance on these two income streams.

  7. The success and growth of DAM Capital are closely tied to the leadership team, particularly the promoter, managing director, and senior management.

  8. The company has faced challenges in retrieving certain corporate records from before 2019, including details about capital structure, company filings, and other important documents.

Peer Comparison of DAM Capital Advisors Limited

CompetitorEPS (Basic)EPS (Diluted)NAV (per share) (₹)RoNW (%)
DAM Capital Advisors Limited9.989.9823.0043.37
Icici Securities Ltd52.5152.22121.4043.25
Iifl Securities Ltd16.7316.4058.0928.71
Jm Financial Ltd.4.294.29115.700.25
Motilal Oswal Financial Services Ltd.41.1640.73147.1227.89
  • How to Apply in IPO
  • How to Check IPO Allotment Status
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Login to Angel One App / Website & click on IPO

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Select desired IPO & tap on "Apply"

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Enter UPI ID, set quantity/price & submit

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Accept mandate on the UPI app to complete the process

DAM Capital Advisors IPO FAQs

DAM Capital Advisors IPO is a book-built issue IPO. It will be open from December 19, 2024, to December 23, 2024.
The Basis of Allotment will happen on Tuesday, December 24, 2024.
The IPO subscription window will open on December 19, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 53 shares.
The listing date for DAM Capital Advisors Limited is Friday, December 27, 2024.
The issue size of the DAM Capital Advisors IPO is up to ₹840.25 crore, with an offer for sale of ₹840.25 crore.
The open and close dates for DAM Capital Advisors IPO are from December 19, 2024, to December 23, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read DAM Capital Advisors's financial statements, download the IPO’s  RHP document.
Pre-apply allows investors to apply for the  DAM Capital Advisors  IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Link Intime India Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
The DAM Capital Advisors Limited IPO is proposed to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
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