Shares of airport service aggregator platform Dreamfolx Services made a positive start in the stock market on Tuesday. 508 each on NSE, a premium of over 56% over its IPO issue price 326 per share. On BSE, shares of Dreamfolx Services started trading at 505 each.
Three-day Initial Public Offering (IPO) was subscribed 56.68 times on the last day of subscription to Dreamfolx Services which closed on 26 August. As per exchange data, the issue received bids for 53,74,97,212 shares as against 94,83,302 shares.
The initial share sale was an offer for sale (OFS) of 1,72,42,368 equity shares by the entire promoters Libertha Peter Kalat, Dinesh Nagpal and Mukesh Yadav. The post offer paid-up equity of the Public Issue Company is 33% of the share capital.
Dreamfolks Services had picked up 253 crores from anchor investors before its public offering that opened on August 24, 2022, and is priced at . was in the range of 308-326 per share.
DreamFolks facilitates an enhanced airport experience for travelers, leveraging its technology-driven platform. The company’s asset-light business model integrates global and domestic networks, credit card and debit card issuers and other corporate customers including airline companies with various airport lounge operators and other airport-related service providers on a single integrated technology platform.
Dreamfox is a leading player and India’s largest airport service aggregator platform (with over 80% share in the domestic lounge access market) to provide travelers with the convenience of an enhanced airport experience that leverages a technology driven platform. Is.
As of March 31, 2022, DreamFork had 50 customers including the card network and several major card issuers in India. From the financial year 2020 to March 31, 2022, 9.79 million PACS had cumulatively availed their services.
As per the Axis Capital report, given Dreamfolx Services’ dominant position in the industry enables them to create interdependence for their service offerings through their unique value proposition, enabling them to attract new customers and operators. Which helps them to further strengthen their position in the market.
Equirus Capital and Motilal Oswal Investment Advisors were the book running lead managers of the public issue. Link Intime India Pvt Ltd was the registrar of the initial share sale.
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