DAM Capital Advisors Shares Slip Below IPO Price; Closes over 10% Down on December 30

DAM Capital Advisors share price came under significant pressure on December 30, 2024, hitting a 52-week low and falling below its IPO listing price. The stock ended the day down 10.30%, closing at ₹372.30, compared to the previous day’s close of ₹415.10 on the National Stock Exchange (NSE).

DAM Capital Advisors share price reached an intraday low of ₹368.60, marking its 52-week low. This sharp drop came amid a broader market decline, with the BSE benchmark Sensex plunging by 450.93 points to 78,248.14.

Stock Performance

However, after the initial surge, the stock reversed course and faced a sharp decline on December 30. The total traded volume for DAM Capital shares stood at 6.28 lakh, resulting in a turnover of ₹24.64 crore. As of the close of trading on December 30, the stock was trading at a price-to-earnings (P/E) ratio of 25.4x based on its trailing 12-month earnings.

Shareholding Structure

As of September 30, 2024, DAM Capital Advisors’ promoters held a 40% stake in the company, while Foreign Institutional Investors (FIIs) owned 5.71%, and Domestic Institutional Investors (DIIs) held 21.75%.

IPO Listing and Performance Overview

DAM Capital Advisors, which engages in stock broking and allied services, made a strong debut on the NSE and BSE on December 27, 2024. The stock is listed at a premium of nearly 39% over the issue price of ₹283, opening at ₹392.90 on BSE, representing a 38.83% jump.

At NSE, it opened at ₹393, up 38.86% from the issue price. Following a positive listing, DAM Capital shares surged further, reaching a high of ₹456.90, a 61.44% gain from the IPO price.

IPO Subscription and Offer Details

The DAM Capital IPO, which was solely an Offer for Sale (OFS), was subscribed 81.88 times. The price band for the IPO was set between ₹269 and ₹283. Since the entire IPO was an OFS, all proceeds from the issue went to the selling shareholder, not the company itself. The IPO raised ₹840.25 crore from the sale of 2.97 crore equity shares.

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