DreamFolks Services IPO: Airport service aggregator platform DreamFolks Rs 562-crore IPO will open for subscription on Wednesday, August 24. The company will sell its shares in the range of Rs 308-326 in its initial stake sale. The proposed primary offering is open for subscription till August 26 (Friday). The IPO is entirely an offer for sale (OFS) of up to 1,72,42,368 equity shares with a face value of Rs 2 each by its promoters Liberatha Peter Kallat, Dinesh Nagpal, and Mukesh Yadav.
DreamFolks Services IPO: Subscription Date
As per the information available on BSE website, Dreamfolks Services Limited IPO will open on 24th August 2022 and it will remain open for subscription till 26th August 2022.
DreamFolks Services IPO: Price Band
As per the BSE website, Dreamfolks IPO price band has been fixed at Rs 308 to Rs 326 per equity share.
DreamFolks Services IPO: Lot Size
Investors can make bids for a minimum of 46 equity shares, and in multiples thereafter. Up to 75 per cent of the total offer is reserved for qualified institutional buyers, and 15 per cent for non-institutional investors. The remaining 10 per cent stake is allocated to the retail investors. The company will not receive any proceeds from the offer.
DreamFolks Services IPO: IPO Proceeds
The book build issue is 100 per cent offer for sale (OFS) in nature that means Dreamfolks IPO proceeds will go to the pocket of promoters. The public issue will constitute 33 per cent of the post offer paid-up equity share capital of the company.
DreamFolks Services IPO: Share Allotment & Listing
The tentative date for Dreamfolks IPO allotment is 1st September 2022. The public issue is proposed for listing on both NSE and BSE. The tentative date for IPO listing is 6th September 2022.
DreamFolks Services IPO: Financials
DreamFolks’ revenue from operations increased from Rs 98.7 crore during fiscal 2017 to Rs 367.04 crore in fiscal 2020, at a compound annual growth rate of 55 per cent.
For the year ended on March 31, 2022, the company had reported total revenue of Rs 283.99 crore with a net profit of Rs 16.25 crore. In the previous fiscal, it had clocked a revenue of Rs 108.11 with a net loss of Rs 1.45 crore.
DreamFolks Services IPO: Book Running Managers
Equirus Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the offer, whereas Link Intime India is the registrar to the issue.
DreamFolks Services IPO: GMP
The grey market premium (GMP) of the firm was trading at Rs 80 today. This implies that the stock will likely be listed at Rs 406, a rise of 24.54 per cent against the issue price of Rs 326. A portion of not less than 75 per cent of the net offer has been reserved for qualified institutional buyers.
DreamFolks Services IPO: About the Company
Dreamfolks facilitates an enhanced airport experience for passengers, leveraging its technology-driven platform. As per the company’s RHP, the total number of operational airports is expected to reach 295 by 2040; these are a combination of a second airport within the same city and new Greenfield projects. The initial regulations that hindered the development of a second airport within the same city have been removed. Navi Mumbai airports and similar projects are key growth drivers for DreamFolks. As of FY 2022, there were around 5 airports that handled more than 10 million passengers, compared to 3 airports in FY 2021. This is expected to be nearly 7X and reach 47 by 2040. This is expected to be a key opportunity with the possibilities of multiple lounge options at these airports.
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