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Upcoming IPO: DAM Capital Advisors Files 3.2 Crore Share OFS with SEBI – Find Out More

Upcoming IPO: The DAM Capital IPO, set for 2024, is an offer-for-sale of 3.2 crore equity shares, featuring key investors like Dharmesh Mehta and Multiples Alternate Asset Management, with proceeds going to the selling shareholders.
Upcoming IPO: DAM Capital Advisors Files 3.2 Crore Share OFS with SEBI – Find Out More

Upcoming IPOs in 2024 are generating significant buzz on Dalal Street, with DAM Capital Advisors recently filing its draft red herring prospectus (DRHP) with SEBI. The DAM Capital IPO will be an offer-for-sale (OFS) of 3.2 crore equity shares, with no new shares being issued, as stated in the DRHP.

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The selling shareholders in this IPO include promoter Dharmesh Anil Mehta, along with investors like Multiples Alternate Asset Management, RBL Bank, Easyaccess Financial Services, and Narotam Satyanarayan Sekhsaria. Since the DAM Capital IPO is fully an OFS, all proceeds will go directly to these selling shareholders. 

DAM Capital Advisors is a prominent investment bank in India, offering services in investment banking, equity capital markets, mergers and acquisitions, private equity, and institutional equities. Led by Mehta, the company has seen its revenue grow at a CAGR of 38.77% from FY22 to FY24, capturing a 12.1% market share in IPOs and qualified institutional placements.

Nuvama Wealth Management is the sole merchant banker for the DAM Capital IPO. SEBI’s recent report highlighted the strong activity in the IPO market from FY22 to FY24, driven by robust retail participation and positive market sentiments. Of the 144 IPOs listed from April 2021 to December 2023, 75% delivered positive returns, with 26 IPOs yielding over 50% on listing day.

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