DAM Capital Advisors IPO Last Day Today, Check GMP Before The Subscription Window Closes

The final allotment for the maiden listing is scheduled to be finalised on December 24, 2024, following which, the shares of the company will make their debut in the stock market on December 27, 2024

On Monday, the unlisted shares of Dam Capital Advisors were trading in the grey market at a strong premium.

Source : Groww

The initial public offering (IPO) of DAM Capital Advisors will close for the public on December 23, 2024. The issue opened its subscription window on December 19, 2024, and since then has been getting strong interest from investors.

The issue has so far received 13.11 times subscriptions, reported The Economic Times. The retail investors subscribed 13.40 times their quota, while the non-institutional investors placed 28.01 times their bidding portion. 

The final allotment for the maiden listing is scheduled to be finalised on December 24, 2024, following which, the shares of the company will make their debut in the stock market on December 27, 2024.

The issue has been priced in the range of Rs 269-283 per share. Investors can place their bids for a minimum of 53 shares per lot and in multiples of thereafter.

The IPO comprises entirely of an offer-for-sale (OFS) of 2.97 crore shares by the selling shareholders. This means that the firm will not receive any of the funds raised from the issue. Nuvama Wealth Management is the book-running lead manager of the listing, while Link Intime India Private Ltd is acting as the registrar for the issue.

Grey Market Premium

On Monday, the unlisted shares of Dam Capital Advisors were trading in the grey market at a strong premium. The stock touched Rd 160 per share, clocking a grey market premium of 55 per cent in comparison to the upper end of the price range of the IPO.

The grey market is an unofficial trading market that runs parallel to the stock market. It allows investors and traders to place bets on the shares of a firm before they make their official debut on the stock exchanges. A grey market premium indicates that investors are optimistic about the company's performance on its listing debut, while the shares trading at a discount in the grey market show that the sentiment towards the listing is weak and muted.

Investors can check the final status of their subscription bid for the issue on Tuesday at the website of the stock exchange, BSE, or the registrar, Link Intime.

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