Veteran dealmaker Dharmesh Mehta’s DAM Capital Advisors Limited is on the verge of making history by filing draft papers with SEBI for its own IPO, according to sources who spoke to Moneycontrol. If successful, this would be the first IPO by a pure-play boutique investment bank on India’s mainboard.
The draft red herring prospectus is likely to be filed in the coming few days, possibly even next week. It would be a pure offer for sale (ofs) to mobiliseRs 800 crore to Rs 1,200 crore, subject to valuations. This IPO will provide an opportunity to strategic financial investors in DAM Capital to make partial or full exits.
Nuvama Wealth Management will act as the sole book-running lead manager for the IPO. It intends to use the money raised from the initial public offering to enter new businesses like wealth management and expansion beyond the investment banking and institutional equities businesses.
Founded by Dharmesh Mehta in 2019, DAM Capital has built up quite a good track record of advising several Marquee IPOs and mergers and acquisitions, including the recent Nirma-Glenmark Lifesciences buyout.
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Source: Moneycontrol
News Desk
