SEBI Gave Green Light For DAM Capital Advisors IPO

DAM Capital Advisors, a boutique investment bank led by seasoned banker Dharmesh Mehta, has received approval from market regulator SEBI for its initial public offering (IPO, announced on Tuesday.

Structure of the Offer

The public issue will consist entirely of an offer-for-sale (OFS) of 3.2 crore equity shares, with all proceeds going to the selling shareholders. According to the Draft Red Herring Prospectus (DRHP), Dharmesh Mehta is offloading 42.41 lakh shares as part of the offering.

Notable investors selling their shares in the OFS include:

• Multiples Alternate Asset Management
• Narotam Satyanarayan Sekhsaria
• RBL Bank
• Easyaccess Financial Services
• Company promoter Dharmesh Mehta

Nuvama Wealth Management is serving as the sole merchant banker for the IPO, while Link Intime India will act as the registrar. DAM Capital IPO marks a significant milestone as India’s first public offering by a pure-play boutique investment bank.

DAM Capital Financial Performance

DAM Capital has demonstrated robust financial growth, posting a revenue compound annual growth rate (CAGR) of 38.77% between FY22-24. The firm also achieved the highest profit margin in FY24 among its peers. In the last fiscal year, DAM held a 12.1% market share in IPOs and Qualified Institutional Placements (QIPs), based on company data.

About DAM Capital 

Founded in November 2019 by Dharmesh Mehta, DAM Capital has executed 67 equity market transactions, including IPOs and QIPs, and 20 advisory transactions in areas such as mergers and acquisitions, private equity, and structured finance. Mehta, who previously served as the MD & CEO of Axis Capital, brings over three decades of experience in the capital markets to the firm.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.