Mumbai: Boutique Indian dealmaker DAM Capital Advisors is considering a public float, demonstrating Mumbai’s rapid emergence as a top investment-banking hub that’s feeding the massive funding appetite in Asia’s third-largest economy through numerous public issues, qualified institutional placements (QIPs), and secondary-market block deals by promoters and long-term investors.
Veteran investment banker Dharmesh Mehta’s DAM Capital, which has executed dozens of public issues and stake sales in the past three and a half years, is likely to launch its own public issue within six months and has appointed a banker, according to sources. The IPO will be a mix of fresh capital and an offer for sale, with Nuvama Investment Banking handling the IPO process, said one of the sources.
DAM Capital is likely to venture into the wealth management business, PMS, AIF, and retail broking with the fresh capital to compete with the likes of ICICI Securities, IIFL Securities, Nuvama, Motilal Oswal, and JM Financial.
