RBL Bank has sold its 8.16% stake in DAM Capital through Offer for Sale (OFS). The bank has given this information in its exchange filing on December 26. The public issue of DAM Capital was opened between 19-23. The bank says that after this transaction it no longer has any stake in this investment bank. This sale of shares took place for Rs 163.32 crore.
“RBL Bank participated in the IPO of DAM Capital Advisors through Offer for Sale (OFS) and sold 57,71,000 equity shares of face value of Rs 2 each,” the company filing said. This is a total stake of 8.16 percent. After this transaction the bank does not hold any stake in DAM Capital. ,
Earlier, RBL Bank had sold 10.60 lakh shares of DAM Capital in the secondary market, which is 1.5% of the total stake. This secondary market transaction was below the threshold limit that requires disclosure as per SEBI regulations. DAM Capital’s Rs 840 crore IPO closed on December 23 and was subscribed 81.88 times. Qualified Institutional Buyers (QIB) played an important role in increasing the subscription figures and got subscription of 166.33 times against the allotted quota. After this, subscription by non-institutional investors was 98.47 times.