DAM Capital IPO: Price band set at ₹269-283 per share; check issue details, key dates, more

DAM Capital IPO price band: The DAM Capital Advisors Limited IPO price band has been fixed in the range of ₹269 to ₹283 per equity share of the face value of ₹2. The DAM Capital IPO date of subscription is scheduled for Thursday, December 19, and will close on Monday, December 23. The allocation to anchor investors for the DAM Capital IPO is scheduled to take place on Wednesday, December18. The DAM Capital IPO lot size is 53 equity shares and in multiples of 65 equity shares thereafter.

DAM Capital IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Tentatively, DAM Capital IPO basis of allotment of shares will be finalised on Tuesday, December 24, and the company will initiate refunds on Thursday, December 26, while the shares will be credited to the demat account of allottees on the same day following refund. DAM Capital share price is likely to be listed on BSE and NSE on Friday, December 27.

Dharmesh Anil Mehta, Sonali Dharmesh Mehta, and Boombucket Advisors Private Limited serve as the promoters of the company.

DAM Capital is recognized as the fastest growing merchant bank in India, based on revenue CAGR from Fiscal years 2022 to 2024, and achieved the highest profit margin in Fiscal 2024 among its peers, as stated in the CRISIL Report. The company ranks as one of the top merchant banks in India, holding a market share of 12.1% in Fiscal 2024, measured by the volume of initial public offerings and qualified institutional placements where we acted as the book running lead manager.

The firm offers a comprehensive range of financial services that include (i) merchant banking services such as equity capital markets (ECM), mergers and acquisitions (M&A), private equity (PE), and structured finance advisory; and (ii) institutional equities which cover broking and research.

As per the red herring prospectus (RHP), the company’s listed peer are ICICI Securities Ltd (with a P/E of 16.96), IIFL Capital Services Ltd (with a P/E of 20.56), JM Financial Ltd (with a P/E of 32.66), Motilal Oswal Financial Services Ltd (with a P/E of 23.57).

The firm achieved strong financial results in the previous financial year (FY24), with its net profit increasing more than eight times to ₹70.5 crore in comparison to the prior fiscal year 2023, while revenue surged by 112% to ₹180 crore from ₹84.9 crore during the same timeframe. In the first half of the current fiscal year 2025, profit reached ₹43.8 crore on a revenue of ₹107.8 crore.

DAM Capital IPO details

The IPO consists entirely of an offer-for-sale of 2.96 crore equity shares, with no component for fresh issue. The selling shareholders in this offering include promoter Dharmesh Anil Mehta and four investors—Multiples Alternate Asset Management, Narotam Satyanarayan Sekhsaria, RBL Bank, and Easyaccess Financial Services.

At present, Mehta, along with his wife and their firm Boombucket Advisors, holds a combined stake of 45.88% in DAM Capital Advisors, while the remaining 54.12% is held by other investors. Nuvama Wealth Management is acting as the sole book-running lead manager for the issue, while Link Intime India serves as the registrar for the offering.

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