DAM Capital: Navigating Market Dynamics with Robust Merchant Banking and Strategic Vision in Q3 FY26

For the nine months ended December 31, 2025 (9MFY26), DAM Capital reported a total income of INR 208 Cr and a profit after tax of INR 72 Cr.

Total income for 9MFY26 decreased by 2.7% year-on-year compared to INR 214 Cr in 9MFY25. Profit after tax saw a more significant decline of 24% year-on-year from INR 95 Cr in 9MFY25.

For 9MFY26, Merchant Banking Revenue accounted for INR 143.7 Cr (69.1% of total income), while Broking Revenue was INR 53.0 Cr (25.5% of total income).

DAM Capital has a robust IPO pipeline of 22 IPOs, with 3 new IPOs added in Q3 FY26. Of these, 13 IPOs are where DAM Capital is the Left Lead Banker, and 7 are Sole Banker IPOs.

From November 2019 to December 2025, DAM Capital executed 96 ECM transactions, raising over INR 1,60,000+ Cr. In Q3 FY26 alone, they executed 4 ECM transactions and 1 M&A advisory, raising INR 4,370+ Cr.

DAM Capital maintains a debt-free structure. As of December 31, 2025, the company had net cash available of INR 309 Cr.

DAM Capital's market share in terms of the number of IPOs executed in 9MFY26 was 12%.