Mumbai, January 24, 2025 – DAM Capital Advisors Ltd (BSE: 544316, NSE: DAMCAPITAL) has reported robust financial results for the third quarter (Q3) and nine months ending December 31, 2024, showcasing strong revenue growth and profitability.
Unallocated Income: ₹3.19 crore, up from ₹1.42 crore in Q3 FY24.
Corporate Announcements
IPO and Market Listing: The company completed its IPO – Offer for Sale (OFS) during Q3 FY25, raising ₹840.25 crore via the sale of 29.69 million equity shares. DAM Capital is now listed on both NSE and BSE as of December 27, 2024.
Stock Option Grant: The Board granted 530,145 stock options at an exercise price of ₹255 per option.
New Subsidiary: DAM Capital incorporated DAM Asset Management Limited on July 8, 2024.
Management Commentary
Dharmendra Mehta, CEO, DAM Capital Advisors Ltd, stated: "Our strong financial performance reflects our strategic focus on expanding our investment banking services and strengthening our stock broking operations. With a successful IPO and robust growth in our key segments, we are well-positioned for future expansion and value creation for our stakeholders."
Strategic Outlook
DAM Capital expects continued growth in investment banking, driven by increasing deal flow and corporate advisory mandates.
Digital transformation initiatives are being pursued to enhance operational efficiency and client experience.
Expansion plans include strengthening its asset management vertical through DAM Asset Management Ltd.
Conclusion
With a strong Q3 performance, a successful IPO, and strategic growth initiatives, DAM Capital Advisors Ltd is poised for sustained profitability and market expansion. Investors and stakeholders can expect continued momentum in FY25 and beyond.