National | December 16, 2024: DAM Capital Advisors Limited (the “Company”), proposes to open its initial public offering (the “Offer”) on Thursday, December 19, 2024. Bid/ Offer Closing Date will be Monday, December 23, 2024. Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, Wednesday, December 18, 2024.
The Price Band of the Offer has been fixed from ₹ 269/- per Equity Share to ₹ 283/- per Equity Share. Bids can be made for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter.
The initial public offering of up to 29,690,900 Equity Shares of face value of ₹2 each (“equity shares”) of the Company. The Offer comprises of an offer for sale of up to 8,714,400 Equity Shares of face value of ₹2 each aggregating up to ₹ [●] million by Multiples Alternate Asset Management Private Limited (“MAAMPL”), up to 7,042,400 Equity Shares of face value of ₹2 each aggregating up to ₹ [●] million by Narotam Satyanarayan Sekhsaria (“NSS”), up to 5,771,000 Equity Shares of face value of ₹2 each aggregating up to ₹[●] million by RBL Bank Limited (“RBL”), up to 5,064,250 Equity Shares of face value of ₹2 each aggregating up to ₹[●] million by Easyaccess Financial Services Limited (“EFSL”, together with MAAMPL, NSS and RBL, the “Investor Selling Shareholders”) and up to 3,098,850 Equity Shares of face value of ₹2 each aggregating up to ₹[●] million by Dharmesh Anil Mehta (the “Promoter Selling Shareholder”, together with the Investor Selling Shareholders, the “Selling Shareholders” and such offer by the Selling Shareholders, the “Offer for Sale”).
The Offer includes a reservation of up to 70,000 Equity Shares of face value ₹2 each, aggregating up to ₹[●] million (constituting up to [●]% of the post-offer paid-up Equity Share capital, for subscription by eligible employees (“Employee Reservation Portion”). The Offer less the Employee Reservation Portion is hereinafter referred to as the “Net Offer”. The Offer and the Net Offer shall constitute [●]% and [●]%, respectively, of the post-offer paid-up Equity Share capital of our Company.
The Equity Shares offered through the Red Herring Prospectus (“RHP”) are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).
The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”), read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in accordance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the
“QIB Category”), provided that our Company in consultation with the BRLM, may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares are allocated to Anchor Investors. In the event of under-subscription or non-allocation
in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Category (excluding the Anchor Investor Portion) (the “Net QIB Category”). Further, 5% of the Net QIB Category shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Category shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the
Offer Price. Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors (“NIIs”) (“Non-Institutional Category”), in accordance with the SEBI ICDR Regulations, of which one-third of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than ₹200,000 and up to ₹1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with a Bid
size of more than ₹1,000,000 and under-subscription in either of these two sub-categories of the Non-Institutional Category may be allocated to Bidders in the other sub-category of the Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors (“RIIs”) (“Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID in case of UPI Bidders (defined hereinafter)) in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or the Sponsor Bank(s), as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, see “Offer Procedure” beginning on page 341 of the RHP.
Nuvama Wealth Management Limited is the sole book running lead manager (“Book Running Lead Manager” or “BRLM”) to the Offer.
Disclaimer: DAM CAPITAL ADVISORS LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with RoC and the Stock Exchanges on December 14, 2024. The RHP shall be available on the website of SEBI at www.sebi.gov.in, the websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, the website of the Company at www.damcapital.in and on the website of the Book Running Lead Manager (“BRLM”), i.e. Nuvama Wealth Management Limited at www.nuvama.com. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see ‘‘Risk Factors’’ beginning on page 28 of the RHP. Potential investors should not rely on the DRHP filed with SEBI and the Stock Exchanges, and should instead rely on the RHP and their own examination of our Company and the Offer, including the risks involved, for making any investment decision.
This announcement is not an offer of securities for sale in the United States or elsewhere. This announcement has been prepared for publication in India only and is not for publication or distribution, directly or indirectly, in or into the United States. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold only outside the United States in “offshore transactions” as defined in, and in reliance on, Regulation S under the U.S. Securities Act and applicable laws of the jurisdictions where such offers and sales occur. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management, as well as financial statements. No public offering or sale of securities in the United States is contemplated. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be issued or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.