RBL Financial institution has divested its complete 8.16% stake in DAM Capital by way of an OFS in the course of the public subject that was open between December 19-23 for a sum of ₹163.32 crore, excluding taxes, the corporate mentioned in an change submitting on December 26. The financial institution mentioned it now doesn’t maintain any fairness stake within the funding financial institution after the transaction.
The preliminary public provide of funding financial institution DAM Capital Advisors Ltd acquired 6.98 instances subscription on the second day of share sale on Friday.
The IPO received bids for 14,52,54,503 shares in opposition to 2,08,04,632 shares on provide, as per information accessible with the NSE.
Non-Institutional Traders half acquired 11.49 instances subscription whereas the class for Retail Particular person Traders (RIIs) received subscribed 8.96 instances. Certified Institutional Patrons (QIBs) garnered 7 per cent subscription.
The preliminary share sale of DAM Capital Advisors Ltd received totally subscribed hours after opening for bidding on Thursday.
DAM Capital Advisors on Wednesday mentioned it has raised ₹251 crore from anchor buyers.
The preliminary share sale, with a worth band of ₹269-283 per share, will conclude on December 23.
The IPO is solely a suggestion on the market (OFS) of two.97 crore fairness shares value ₹840.25 crore, by a promoter and buyers on the higher finish of the worth band.
These promoting shares within the OFS are promoter Dharmesh Anil Mehta, buyers Multiples Alternate Asset Administration, RBL Financial institution, Easyaccess Monetary Providers, and Narotam Satyanarayan Sekhsaria.
Because the complete subject is an OFS, all of the proceeds from the IPO will go on to the promoting shareholder, relatively than to the corporate.
In its draft papers, the corporate acknowledged it plans to go public to attain the advantage of itemizing fairness shares on the inventory exchanges and permit shareholders to promote their shares by way of the OFS.
DAM Capital Advisors offers a variety of economic options in areas of funding banking comprising fairness capital markets (ECM), mergers and acquisitions (M&A), personal fairness (PE), and structured finance advisory; and institutional equities comprising broking and analysis.
Nuvama Wealth Administration is the only real service provider banker for the problem.
