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Dreamfolks Services IPO to open on August 24: GMP, lot size, price band and more

Dreamfolks Services IPO to open on August 24: GMP, lot size, price band and more

Dreamfolks Services IPO: The firm, which is India's largest airport service aggregator platform, plans to raise Rs 562 crore through the share sale.

 Dreamfolks Services is offering its shares in a price band of Rs 308 to Rs 326 per share. Dreamfolks Services is offering its shares in a price band of Rs 308 to Rs 326 per share.

Dreamfolks Services IPO: The initial public offer (IPO) of Dreamfolks Services will open on August 24 (Wednesday). The firm, which is India's largest airport service aggregator platform, plans to raise Rs 562 crore. The IPO will close on August 26. The company is offering its shares in a price band of Rs 308 to Rs 326 per share. The lot size of Dreamfolks Services IPO is 46 shares for which one will have to spend Rs 14,996.

A retail individual investor can submit bids for up to 13 lots or 598 shares by spending Rs 1,94,948. Equirus Capital Private Limited and Motilal Oswal Investment Advisors Pvt Ltd are the lead managers of the IPO. The allotment of shares will be done on September 1 and they are likely to be listed on BSE and NSE on September 6.

The company will not directly receive any proceeds from the offer and the entire proceeds of the IPO will be received by the selling shareholders.

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Link Intime India Private Ltd is the registrar to the IPO.

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.

Retail investors will get to bid for not more than 10 per cent of the net offer.

DreamFolks is a dominant player and India's largest airport service aggregator platform, an incubator of the industry with its 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 Limited, Axis Bank Limited, Kotak Mahindra Bank Limited, HDFC Bank Limited (in respect of debit card lounge program) and SBI Cards and Payment Services Limited.

Published on: Aug 22, 2022, 3:07 PM IST
Posted by: Aseem Thapliyal, Aug 22, 2022, 3:00 PM IST