DAM Capital Advisors: IPO Track Record
Mid-sized mainboard issues (median INR 805.31 crore). Its IPOs opened a median 4.51 percentage points below same-year listings, and median subscription fell from 32.61x before 2025 to 8.34x since.
Listed IPOs
46
46 mainboard
Amount raised
INR 1,05,398.78 crore
2020 to 2026
Median gain at open
+4.33%
listing day, vs issue price
Median gain at close
+5.05%
listing day, vs issue price
Opened above issue price
60.87%
share of listings
Closed below issue price
32.61%
on listing day
Median subscription
22.32x
total, final day
Vs same-year IPOs
-4.51
percentage points; median gap at open
Best listing: Go Fashion (+89.86% at open, 30 November 2021). Weakest: Metro Brands (-12.60% at open, 22 December 2021).
An IPO with several lead managers counts towards each of them.
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 6 | +9.41% | +20.86% | 66.67% | 14.64x |
| 2025 | 11 | +4.42% | +3.02% | 63.64% | 8.34x |
| 2024 | 8 | +14.61% | +11.70% | 50% | 25.74x |
| 2023 | 6 | +2.58% | +6% | 66.67% | 34.50x |
| 2022 | 4 | +8.91% | +5.54% | 50% | 28.96x |
| 2021 | 10 | +3.05% | +3.71% | 60% | 33.30x |
| 2020 | 1 | +48.21% | +18.59% | 100% | 157.41x |
All 46 IPOs Managed
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Jio Platforms | 28 October 2026 | Mainboard | 1,119 | 30,187.65 | 22.19x | 1,358 | 1,417.50 | +21.36% | +26.68% |
| National Stock Exchange | 24 September 2026 | Mainboard | 1,785 | 22,561.57 | 5.71x | 1,800 | 1,818 | +0.84% | +1.85% |
| Hero Motors | 23 September 2026 | Mainboard | 84 | 1,000 | 7.08x | 82 | 98.40 | -2.38% | +17.14% |
| Prasol Chemicals | 16 September 2026 | Mainboard | 676 | 500 | 3.47x | 610 | 671 | -9.76% | -0.74% |
| ESDS Software | 4 September 2026 | Mainboard | 429 | 720 | 142.88x | 757 | 908.40 | +76.46% | +111.75% |
| Caliber Mining | 24 July 2026 | Mainboard | 424 | 450 | 154.66x | 500.25 | 528.20 | +17.98% | +24.58% |
| Park Medi World | 17 December 2025 | Mainboard | 162 | 920 | 8.10x | 158.80 | 147.95 | -1.98% | -8.67% |
| Midwest | 24 October 2025 | Mainboard | 1,065 | 451 | 87.86x | 1,165 | 1,140.50 | +9.39% | +7.09% |
| TruAlt Bioenergy | 3 October 2025 | Mainboard | 496 | 839.28 | 71.92x | 545.40 | 530.95 | +9.96% | +7.05% |
| Jain Resource Recycling | 1 October 2025 | Mainboard | 232 | 1,250 | 15.90x | 265.05 | 318.06 | +14.25% | +37.09% |
| Anand Rathi Share and Stock Brokers | 30 September 2025 | Mainboard | 414 | 745 | 20.66x | 432 | 445.55 | +4.35% | +7.62% |
| Ganesh Consumer Products | 29 September 2025 | Mainboard | 322 | 408.80 | 2.67x | 296.05 | 294.30 | -8.06% | -8.60% |
| Saatvik Green Energy | 26 September 2025 | Mainboard | 465 | 900 | 6.57x | 465 | 440.70 | 0% | -5.23% |
| Euro Pratik Sales | 23 September 2025 | Mainboard | 247 | 451.32 | 1.34x | 272.10 | 248.38 | +10.16% | +0.56% |
| JSW Cement | 14 August 2025 | Mainboard | 147 | 3,600 | 7.77x | 153.50 | 146.07 | +4.42% | -0.63% |
| All Time Plastics | 14 August 2025 | Mainboard | 275 | 400.60 | 8.34x | 311.30 | 283.30 | +13.20% | +3.02% |
| M&B Engineering | 6 August 2025 | Mainboard | 385 | 650 | 36.20x | 385 | 408.65 | 0% | +6.14% |
| Sanathan Textiles | 27 December 2024 | Mainboard | 321 | 550 | 35.12x | 422.30 | 388.35 | +31.56% | +20.98% |
| One Mobikwik Systems | 18 December 2024 | Mainboard | 279 | 572 | 119.38x | 440 | 528 | +57.71% | +89.25% |
| Afcons Infrastructure | 4 November 2024 | Mainboard | 463 | 5,430 | 2.63x | 426 | 474.20 | -7.99% | +2.42% |
| Bansal Wire | 10 July 2024 | Mainboard | 256 | 745 | 59.57x | 356 | 350.35 | +39.06% | +36.86% |
| Le Travenues Technology | 18 June 2024 | Mainboard | 93 | 740.10 | 98.10x | 138.10 | 165.72 | +48.49% | +78.19% |
| Entero Healthcare | 16 February 2024 | Mainboard | 1,258 | 1,600 | 1.53x | 1,228.70 | 1,149.55 | -2.33% | -8.62% |
| Capital Small Finance Bank | 14 February 2024 | Mainboard | 468 | 523.07 | 4x | 430.25 | 435 | -8.07% | -7.05% |
| EPACK Durable | 30 January 2024 | Mainboard | 230 | 640.05 | 16.37x | 221 | 207.60 | -3.91% | -9.74% |
| Credo Brands | 27 December 2023 | Mainboard | 280 | 549.78 | 51.85x | 282.35 | 312.20 | +0.84% | +11.50% |
| ESAF Small Finance Bank | 10 November 2023 | Mainboard | 60 | 463 | 73.14x | 71 | 69.05 | +18.33% | +15.08% |
| JSW Infra | 3 October 2023 | Mainboard | 119 | 2,800 | 37.37x | 143 | 157.30 | +20.17% | +32.18% |
| Yatra Online | 28 September 2023 | Mainboard | 142 | 775 | 1.61x | 127.50 | 135.90 | -10.21% | -4.30% |
| Rishabh Instruments | 11 September 2023 | Mainboard | 441 | 490.78 | 31.63x | 460.05 | 443.15 | +4.32% | +0.49% |
| Avalon Technologies | 18 April 2023 | Mainboard | 436 | 865 | 2.21x | 436 | 398 | 0% | -8.72% |
| Uniparts India | 12 December 2022 | Mainboard | 577 | 835.61 | 25.32x | 575 | 539.65 | -0.35% | -6.47% |
| Inox Green Energy | 23 November 2022 | Mainboard | 65 | 740 | 1.55x | 60 | 59.10 | -7.69% | -9.08% |
| Kaynes Technology | 22 November 2022 | Mainboard | 587 | 857.82 | 34.16x | 778 | 689.95 | +32.54% | +17.54% |
| Syrma SGS | 26 August 2022 | Mainboard | 220 | 840.13 | 32.61x | 260 | 310.50 | +18.18% | +41.14% |
| CMS Infosystems | 31 December 2021 | Mainboard | 216 | 1,100 | 1.95x | 220.20 | 238.20 | +1.94% | +10.28% |
| Metro Brands | 22 December 2021 | Mainboard | 500 | 1,367.51 | 3.64x | 437 | 493.35 | -12.60% | -1.33% |
| CE Infosystems (MapMyIndia) | 21 December 2021 | Mainboard | 1,033 | 1,039.61 | 154.71x | 1,565 | 1,393.65 | +51.50% | +34.91% |
| Star Health | 10 December 2021 | Mainboard | 900 | 6,018.68 | 0.79x | 845 | 906.85 | -6.11% | +0.76% |
| Go Fashion | 30 November 2021 | Mainboard | 690 | 1,013.61 | 135.46x | 1,310 | 1,253.70 | +89.86% | +81.70% |
| Windlas Biotech | 16 August 2021 | Mainboard | 460 | 401.54 | 22.44x | 437 | 407.15 | -5% | -11.49% |
| Krsnaa Diagnostics | 16 August 2021 | Mainboard | 954 | 1,214.60 | 64.38x | 1,005.55 | 987 | +5.40% | +3.46% |
| Glenmark Life Sciences | 6 August 2021 | Mainboard | 720 | 1,513.60 | 44.17x | 750 | 748.50 | +4.17% | +3.96% |
| Laxmi Organic | 25 March 2021 | Mainboard | 130 | 600 | 106.81x | 155.50 | 164.45 | +19.62% | +26.50% |
| IRFC | 29 January 2021 | Mainboard | 26 | 4,633.38 | 3.49x | 24.90 | 24.80 | -4.23% | -4.62% |
| Mazagon Dock Shipbuilders | 12 October 2020 | Mainboard | 145 | 443.69 | 157.41x | 214.90 | 171.95 | +48.21% | +18.59% |