Dreamfolks shares are available at a premium of 30 per cent in the grey market, indicating a strong debut on bourses on September 6. Earlier, the issue, which was open for subscription from August 24 to August 26, got a robust response from investors with an oversubscription of 56.68 times. The company had fixed a price band of Rs 308 to Rs 326.
According to IPOWatch.in, the grey market premium for Dreamfolks was around 105, or 32 per cent, over the issue price of Rs 326.
Abhay Doshi, Founder, UnlistedArena said, “The primary markets have gained traction following the commendable listing of Syrma SGS. Strong subscriptions for the Dreamfolks IPO were recorded in all categories. An attractive business concept despite aggressive pricing arouses investor interest. Considering the strong interest accompanied by stable broader market conditions, we can expect a very strong listing at a premium of over 25-30 per cent.”
Dreamfolks is a dominant player and India’s largest airport service aggregator platform having a unique, asset-light, capital-efficient business model. Dreamfolks provides services to all the card networks operating in India including Visa, MasterCard, Diners/Discover and RuPay and many of India’s prominent card issuers including ICICI Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank and SBI Cards.
DreamFolks has 50 clients as of March 2022. It has a global footprint extending to 1,416 touchpoints in 121 countries across the world out of which 244 touchpoints are in India and 1,172 touchpoints overseas. With 100% coverage across all 54 airport lounges operational in India, DreamFolks has gained a market share of over 95 per cent of all India-issued card-based access to domestic lounges in India. In FY22, DreamFolks facilitated access to 35.3 lakh out of 52 lakh passengers accessing lounges in India (around 68 per cent total share).
The category reserved for qualified institutional buyers (QIBs) got subscribed 70.53 times. On the other hand, the portion reserved for non-institutional investors and retail individual investors got oversubscribed 37.66 times and 43.66 times, respectively.
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