DreamFolks Service IPO Subscription Last Day: Dreamfolks Services’ initial public offer (IPO) was booked 6.09 times on the second day of bidding, receiving good support from retail investors. DreamFolks Services is looking to raise Rs 562 crore through the issue, an offer for sale in its entirety, at the upper end of the price band of Rs 308-326 a share. The Dreamfolks IPO will close on Friday, August 26. Dreamfolks provides an enhanced airport experience for passengers, leveraging its technology-driven platform and assisting customers with airport-related services such as lounges, food and beverage, spa, meet and airport transfers. Transit hotel, or nap room access, and luggage transfer services.
DreamFolks Service IPO: Subscription Status
The retail portion of the DreamFolks Services IPO was oversubscribed 19.1 times. The total issue size was reduced from 1.72 crore shares to 94.83 lakh shares after Dreamfolks raised Rs 253 crore through its anchor book on August 23. Non-institutional investors bid for 8.4 times the shares allotted to them, while the share of eligible institutional buyers was booked at 60 per cent.
DreamFolks Services IPO: IPO Details
Investors can make a minimum bid of 46 equity shares and thereafter bid in multiples of 46 equity shares. DreamFolks public issue is proposed to be listed on both NSE and BSE and the tentative DreamFolks IPO listing date is September 6, 2022.
The issue is an offer for sale (OFS) of up to 1,72,42,368 equity shares of face value of Rs 2 each by promoters Libertha Peter Kallat, Mukesh Yadav and Dinesh Nagpal.
DreamFolks Services IPO: Valuation
In terms of valuation, the post-issue P/E works out to 104.8x FY22 EPS (at the upper end of the issue price band). However, lower profitability due to pandemic-led problems shows higher multiples, Angel One said.
Dreamfox Services IPO: GMP Today
According to market watchers, the DreamFolks IPO gray market premium (GMP) rose from Rs 60 to Rs 83 in just one day, following a strong response from retail investors to the public issue. They said that since the mood of the secondary market was positive for the last two days, it also affected the gray market. However, stock market investors said that GMP is not an ideal index for listing premium from a public issue as it has nothing to do with the financials of the company.
DreamFolks Service IPO: Should You Subscribe?
Anand Rathi Securities has subscribed it to a long-term rating, saying the company’s unique (corporate-cum-consumer) business proposition and aspirational brand image augur well for the company in the long term. Plus, it’s the first step into the space, giving the company an added advantage and putting it in a sweet spot.
Based on FY22, the company’s valuation shows expansion, but full business recovery will be visible from FY23, ICICI Securities said.
“The company enjoys over 95 per cent market share in card-based lounge access with its asset-light business model and the exclusive nature of the business and further growth potential in the air travel and credit card segments, the brokerage firm recommends a ‘Subscribe’ rating on the issue for listed earnings, it said. said in a note.
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