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DAM Capital Advisors Set to Make History with India’s First Boutique Investment Bank IPO

DAM Capital Advisors, led by Dharmesh Mehta, is set to file for India's first pure-play boutique investment bank IPO, marking a landmark moment in the capital markets.
DAM Capital Advisors Set to Make History with India’s First Boutique Investment Bank IPO

DAM Capital Advisors Limited, led by veteran dealmaker Dharmesh Mehta, is preparing to file draft papers with SEBI for its IPO. If successful, it will be India’s first IPO by a pure-play boutique investment bank on the mainboard, marking a significant milestone in the capital markets.

Founded in November 2019, DAM Capital was established by Dharmesh Mehta, who previously served as MD & CEO at Axis Capital. With over three decades of experience in capital markets, Mehta has positioned DAM Capital as a key player in investment banking, focusing on equity capital markets and institutional equities.

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Originally incorporated as SS Kantilal Ishwarlal (SSKI) in 1992, DAM Capital became part of the IDFC Group in 2006. The ownership and management shifted to Dharmesh Mehta and a group of investors in 2019, transforming the firm into its current structure under Mehta’s leadership.

DAM Capital has advised on notable IPOs, including JSW Infra, IRFC, Mazagon Dock Shipbuilders, and Metro Brands. The firm has also played a significant role in QIPs for companies like DMart, Sterling Wilson & Solar, and Ujjivan SFB. 

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