DAM Capital Advisors shares closed about 46% higher than its issue price on its market debut on Friday. The stock closed at ₹415.05 in the BSE and at ₹415.40 in the NSE against IPO price of ₹283.

The ₹840-crore IPO of DAM Capital Advisors closed on December 23 that came out with a price band of ₹269-283. The stocks were listed on Friday on the BSE at ₹392.90 and on the NSE at ₹393, a premium of about 38 per cent over IPO price.

The IPO witnessed strong investor interest, with the Qualified Institutional Buyers (QIB) portion oversubscribed 166 times, Non-Institutional Investors (NII) 98 times, and Retail Investors 27 times. The employee portion was also well-subscribed at 40 times. 

DAM Capital Advisors’ initial public offering (IPO) was entirely an offer-for-sale (OFS) by existing shareholders, including promoter Dharmesh Anil Mehta and investors like Multiples Alternate Asset Management, RBL Bank, and Easyaccess Financial Services.