dreamfolks services IPO price range: DreamFolks Services IPO opening on August 24; fixed price range

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New Delhi: The initial public offering (IPO) of airport services aggregation platform DreamFolks Services is set to hit Dalal Street for subscription on Wednesday, August 24.

The company will sell its shares in the range of Rs 308-326 during its initial sale. The proposed primary offering is open for subscription until August 26 (Friday).

The IPO is entirely an offer for sale (OFS) of up to 1,72,42,368 shares with a par value of Rs 2 each by its promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav.

Investors can bid on a minimum of 46 shares and on multiples thereafter. The anchor book will open on Tuesday, August 23.

The company will not directly receive any proceeds from the issue and all of the proceeds will go to the selling shareholders, in proportion to the offered shares sold by them.

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DreamFolks facilitates an enhanced airport experience for passengers, leveraging its technology-driven platform. It has no peers listed so far.

The company’s asset-based business model integrates global card networks operating in India, credit and debit card issuers and other corporate customers, including airlines, with various lounge operators. ‘airport.

It facilitates consumer access to airport-related services such as lounges, food and beverage, spa, meeting and airport transfer assistance, transit hotels or access to nap rooms and baggage transfer services.

DreamFolks’ operating revenue grew from Rs 98.7 crore in FY 2017 to Rs 367.04 crore in FY 2020, at a compound annual growth rate of 55%.

For the financial year ended March 31, 2022, the company had reported total revenue of Rs 283.99 crore with net profit of Rs 16.25 crore. In the previous financial year, it recorded an income of Rs 108.11 with a net loss of Rs 1.45 crore.

Up to 75% of the total supply is reserved for qualified institutional buyers and 15% for non-institutional investors. The remaining 10% stake is allocated to retail investors.

Equirus Capital and

The Investment Advisors are the lead managers of the offering, while Link Intime India is the registrar of the issuance.

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