DreamFolks Services IPO share allotment date: Check GMP, listing and other key details

Airport service aggregator DreamFolks Services' Initial Public Offer (IPO) bagged a strong response during the bidding period. The IPO was subscribed 56.68 times on the last day of subscription on August 26, Friday.

The offer, which has set a price band of Rs 308-326 a share, received bids for 53,74,97,212 equity shares against 94,83,302 shares on offer. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 70.53 times, the category for non-institutional investors was subscribed 37.66 times, and Retail Individual Investors (RIIs) 43.66 times.

The IPO is entirely an Offer-For-Sale (OFS) of up to 1.72 crore equity shares by promoters Liberatha Peter Kallat, Mukesh Yadav, and Dinesh Nagpal.

DreamFolks Services IPO share allotment, listing date & other details

• DreamFolks Services share price: Price band Rs 308-326 per equity share.
• DreamFolks Services share allotment: September 1 (Thursday)
• IPO size: The IPO is entirely an Offer-For-Sale (OFS) of 1,72,42,368 equity shares.
• DreamFolks Services IPO Listing on BSE and NSE: Likely on September 6

DreamFolks Services GMP: What to expect?

The shares of DreamFolks Services in the unofficial grey market on Sunday were trading at a premium. The GMP (Grey Market premium) was around Rs 80 which suggests gaon on listing on NSE and BSE. 

The airport service aggregator has already raised Rs 253 crore from anchor investors.

It facilitates consumers' access to airport-related services like lounges, spas, food, and beverages, meet and assist airport transfers, transit hotels or nap rooms, and baggage transfer services. According to the company's website, it has 1,416 Touch-points in 121 countries, including 244 touch-points in India. 

The firm's revenue from operations grew from Rs 98.7 crore during fiscal 2017 to Rs 367.04 crore in fiscal 2020 at a compounded annual growth rate of 55 percent.

Motilal Oswal Investment Advisors and Equirus Capital are the managers of the offer.