Dam Capital Advisors Ltd IPO

The Company is a fastest-growing merchant bank in India.

Proven execution with in-depth understanding of sectors and products.

Institutional equities platform with comprehensive research and execution capabilities.

Extensive coverage of corporates, financial sponsors and institutional investors, with repeat business.

Experienced management and professionals, backed by a majority independent board.

Strong track record of revenue growth and profitability.

The company operates in a highly regulated environment which is subject to changes in laws and, regulations and government policies. Further, the company is required to maintain various licences and permits for its business from time to time. Any failures or delay in obtaining or renewing licences or permits or non-compliance to the changing laws may adversely affect its business, financial condition and results of operations.

Its merchant banking and institutional equities business is highly dependent on market and economic conditions. Adverse market or economic conditions could have a significant economic and financial impact on its business.

The Company and Subsidiary, DAM USA, are subject to periodic inspections by various statutory andregulatory authorities and its international operations increase the risks that the company faces in the USA and from regulators of USA. Non-compliance with the observations made during any such inspections could lead to penalties, adverse regulatory actions or issue of warning letters which may adversely impact its reputation, financial condition and results of operations.

The company has incurred losses in the stock broking segment in the past. Any further reduction in its brokerage fee could have a material adverse effect on the company business, financial condition, cash flows and results of operations.

A significant portion of its revenue is from only two income streams, namely, advisory fee income and brokerage, which are highly dependent on general macro-economic conditions, and their continued success is necessary for its business prospects.

The company has had negative cash flow from operating activities Fiscal 2024 and may continue to have negative cash flows in the future.

The success of its business operations is dependent on the company Promoter and Managing Director, and on Directors, Key Managerial Personnel and Senior Management as well as its ability to attract, train and retain employees.

The company faces various risks in relation to its merchant banking business, such as ability to attract and retain clients, investors and employees, execution of the transaction in timely manner, unfavourable market conditions and regulatory environment and its may not be able to sustain the company growth or expand its client base in light of competitive pressure or failures to implement business strategies.

The Company is unable to trace certain corporate and statutory records pertaining to historicalsecretarial information in respect of its capital structure build-up and certain records from the filings with the RoC.

There are operational risks associated with the merchant banking and institutional equities industry including potential errors in research disseminated or advice provided by us which, if realised, may have a material adverse effect on its business, financial condition, cash flows, results of operations and prospects.