NEW DELHI: Investment financial institution DAM Capital Advisors on Wednesday mentioned it has raised Rs 251 crore from anchor investorsa day earlier than opening of its preliminary share sale for public subscription. Nomura, Goldman Sachs, HSBC, Societe Generale, Nippon India Mutual Fund (MF), HDFC MF, Kotak MF, and Aditya Birla Sun Life MF are among the many anchor investors, in keeping with a round uploaded on the BSE web site.
As per the round, DAM Capital has allotted 88.86 lakh shares to 33 funds at Rs 283 apiece, which can also be the higher finish of the worth band. This aggregates the transaction dimension to Rs 251.48 crore.
The preliminary share-sale, with a value band of Rs 269-283 per share, will open for public subscription on December 19 and conclude on December 23.
The IPO is solely a proposal-for-sale (OFS) of 2.97 crore fairness shares price Rs 840.25 crore, by a promoter and investors on the higher finish of the worth band, with no contemporary subject element.
Those promoting shares within the OFS are promoter Dharmesh Anil Mehta, investors Multiples Alternate Asset Management, RBL Bank, Easyaccess Financial Services, and Narotam Satyanarayan Sekhsaria.
Since your entire subject is an OFS, all of the proceeds from the IPO will go on to the promoting shareholder, slightly than to the corporate.
In its draft papers, the corporate acknowledged it plans to go public to attain the profit of itemizing fairness shares on the inventory exchanges and permit promoting shareholders to promote their shares by means of the OFS.
At the higher finish of the worth band, the corporate’s market capitalization has been pegged at Rs 2,000 crore.
Half of the problem has been reserved for certified institutional consumers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
DAM Capital Advisors offers a variety of monetary options in areas of (i) funding banking comprising fairness capital markets (ECM), mergers and acquisitions (M&A), non-public fairness (PE), and structured finance advisory; and institutional equities comprising broking and analysis.
Headed by Mehta, DAM Capital Advisors is a number one funding financial institution within the nation with a market share of 12.1 per cent based mostly on the quantity of IPOs and certified institutional placements undertaken by it because the ebook-operating lead supervisor in FY24, in keeping with a Crisil report.
Nuvama Wealth Management is the only service provider banker for the problem. The fairness shares of the corporate are anticipated to be listed on December 27 on the BSE and the NSE.
