DAM Capital Advisors files DRHP with Sebi to launch IPO

DAM Capital Advisors has filed its draft red herring prospectus (DRHP) with the capital market regulator Sebi to launch its initial public offering (IPO). DAM Capital Advisors is among the leading investment banks in India with a market share of 12.1 per cent based on the number of IPOs and QIPs in FY24.
 

According to the DRHP, DAM Capital Advisors will sell up to 3,20,64,010 equity shares through its IPO, which is entirely an offer-for-sale (OFS) by its promoters and existing shareholders of the company.
 

Promoter Dharmesh Anil Mehta is eyeing to offload up to 42,41,160 equity shares in the IPO, while other shareholders including Multiples Alternate Asset Management (up to 88,00,000 shares), Narotam Satyanarayan Sekhsaria (up to 70,68,600 shares), RBL Bank (up to 68,31,000 shares) and Easyaccess Financial Services (up to 51,23,250 shares) will also participate in OFS.
 

DAM Capital is the fastest growing investment bank in India by revenue CAGR from financial year 2021-22 to 2023-24 with the highest profit margin among its peers.
 

DAM Capital provides a wide range of financial solutions including investment banking comprising equity capital markets, mergers and acquisitions, private equity and structured finance advisory; institutional equities (broking and research).
 

Formerly known as IDFC Securities, the group divested its entire stake and it was acquired by Dharmesh Anil Mehta and others. Subsequently, in July 2020, it changed its name to DAM Capital Advisors. It has a team of 115 employees across businesses comprising seasoned personnel with experience in executing transactions across product lines and sectors, as of July 31, 2024.
 

DAM Capital reported a total income of Rs 182 crore with a net profit of Rs 70.52 crore in FY24, while its revenue in FY23 stood at Rs 85.04 crore with a profit of Rs 8.67 crore. Its revenue stood at Rs 94.51 crore with a bottomline of Rs 21.9 crore in FY22.
 

Nuvama Wealth Management is the sole book running lead manager to the IPO of DAM Capital Advisors, while Link Intime India has been appointed as the registrar to the issue. Shares of the company shall be listed on both BSE and NSE.