DAM Capital IPO sees 5.25x subscription by Day 2, driven by strong demand from retail investors and NIIs; GMP rises sharply. -

DAM Capital IPO sees 5.25x subscription by Day 2, driven by strong demand from retail investors and NIIs; GMP rises sharply.

December 22, 2024December 20, 2024 by Pintu Malakar

The IPO of DAM Capital Advisors continued to see strong demand on the second day of its share sale, with robust participation from retail and non-institutional investors. The offering, which was fully subscribed within hours of opening on Thursday, ended the day with a 2.75x subscription.

By 2:15 PM on Day 2, the IPO had received bids for 10.92 crore shares against the 2.08 crore shares available, marking a 5.25x overall subscription, according to NSE data. The retail investor category saw 7.20x subscription, while the non-institutional investor segment was subscribed 7.60x. Meanwhile, the qualified institutional buyer (QIB) category recorded a 2% subscription level.