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The public issue will consist entirely of an offer-for-sale (OFS) of 3.2 crore equity shares, with all proceeds going to the selling shareholders. As per the DRHP, Mehta is offloading 42.41 lakh shares.
Prominent investors selling shares in the OFS include Multiples Alternate Asset Management, Narotam Satyanarayan Sekhsaria, RBL Bank, Easyaccess Financial Services, and the company’s promoter, Dharmesh Mehta.
Nuvama Wealth Management is acting as the sole merchant banker, while Link Intime India serves as the registrar for the IPO. The issue marks a significant milestone as it is India’s first public offering by a pure-play boutique investment bank.
Also read: Vishal Mega Mart IPO — Key risk factors involving the ₹8,000 crore issue
DAM Capital has posted an impressive revenue CAGR of 38.77% between FY22-24, achieving the highest profit margin in FY24 among its peers. In the last fiscal year, DAM held a 12.1% market share in IPOs and Qualified Institutional Placements (QIPs), according to company data.
Since its inception in 2019, DAM has executed 67 equity market transactions, including IPOs and QIPs, and 20 advisory transactions covering mergers and acquisitions, private equity, and structured finance.
Dharmesh Mehta, who previously served as the MD & CEO of Axis Capital, founded DAM Capital in November 2019. He brings over three decades of capital market experience to the firm.
