DAM Capital Advisors IPO GMP surges to 50% ahead of subscription on Thursday

DAM Capital Advisors share share listing is proposed to take place on December 27.

DAM Capital Advisors IPO GMP has surged to nearly 50 percent a day ahead of the beginning of public subscription in the primary market.

Investment bank DAM Capital Advisors offers a wide range of financial solutions in areas of investment banking comprising equity capital markets (ECM), mergers and acquisitions (M&A), private equity (PE), and structured finance advisory; and institutional equities comprising broking and research.

A grey market premium as high as 50 percent ahead of the issue signals interests among investors who may be willing to pay a significant premium over the IPO's issue price to secure a stake in DAM Capital Advisors.

A grey market premium is just an indication of the actual listing price in the unofficial market. It may vary on the exchanges when shares finally list.

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However, GMP trends indicates the interest surrounding an IPO. Investorgain quoted a GMP of Rs 135 for the shares of the company, indicating a listing gain of 47.7 percent.

At the upper end of the price band, the company's market capitalisation has been pegged at Rs 2,000 crore.

The company has fixed a price band of Rs 269-283 per share for its initial share sale, which will open for public subscription on December 19.

The initial public offering (IPO) is scheduled to close on December 23 and the bidding for anchor investors will open for a day on December 18.

DAM Capital sets price band at Rs 269-283 per share: Listing timeline and IPO details

The IPO is solely an offer-for-sale (OFS) of 2.97 crore equity shares worth Rs 840.25 crore, by a promoter and investors at the upper end of the price band, with no fresh issue component.

DAM Capital Advisors share allotment is likely to take place on December 23, while the share listing is proposed to take place on December 27.

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